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'Money markets and trade’ defining provincial financial agents in England and Japan

Ishizu, Mina (2020) 'Money markets and trade’ defining provincial financial agents in England and Japan. Economic History Working Papers (WP 305). London School of Economics and Political Science, Economic History Department, London.

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Abstract

The paper aims to offer an introduction to provincial financial agents as the key components in provincial-metropolitan integration of money markets. It establishes that PFAs engaged in de facto banking and played an important role in local money markets. Both in England and in Tokugawa Japan, they were responsible for making decisions whether or not to establish a connection with financial agents in the commercial centres. The paper also considers some of the financial services facilitated by the existence of financial connections between metropolitan and provincial financial agents. In both countries, remittances and (particularly in England) investment were important financial activities facilitated by such connections, while bill-rediscounting appears to have been relevant only in the English case. On the other hand, in Japan domain-related business activity forged financial links with the commercial centres, links in which provincial financial agents played a major role. Also the expansion of inter-domainal private trade may have further stimulated the inter-regional financial linkages in the late Tokugawa period.

Item Type: Monograph (Working Paper)
Official URL: http://www.lse.ac.uk/Economic-History/Working-Pape...
Additional Information: © 2020 The Author
Divisions: Economic History
Subjects: H Social Sciences > HC Economic History and Conditions
JEL classification: N - Economic History > N2 - Financial Markets and Institutions > N20 - General, International, or Comparative
N - Economic History > N2 - Financial Markets and Institutions > N23 - Europe: Pre-1913
N - Economic History > N2 - Financial Markets and Institutions > N25 - Asia including Middle East
Date Deposited: 22 Jan 2020 16:33
Last Modified: 29 Feb 2020 00:42
URI: http://eprints.lse.ac.uk/id/eprint/103159

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