Znaczenie rolnictwa, polityki finansowej oraz instytucji finansowych w stymulowaniu wzrostu i rozwoju gospodarczego Japonii w latach 1868–1914

Zbigniew Klimiuk

doi:10.18778/1506-6541.28.01

Authors

Zbigniew Klimiuk Instytut Pracy i Spraw Socjalnych w Warszawie https://orcid.org/0000-0002-8555-3522

DOI:

https://doi.org/10.18778/1506-6541.28.01

Keywords:

Japan, Meiji Restaurant, financing economic growth and development, capital accumulation, land tax, banking and non-banking institutions, internal and external sources of financing, industrialization process, changes in the economic structure, support and expansion of exports

Abstract

The modern history of the Japanese economy began with a landmark event, the Meiji Restaurant in 1868, which initiated profound social, political and economic changes. The subject of the analysis in the article are the sources of financing economic growth and development in Japan in the period 1868–1914 and the role of specialized banking and non-banking institutions which, by mobilizing capital and its resources, jointly supported development processes. In line with generally accepted principles, the sources of financing economic growth have been divided into internal (domestic) and external (foreign). The aim of the study is to show the importance of both sources of financing for the economic growth of Japan, while discussing the former, the role of agriculture and land tax effectively serving public accumulation are emphasized. One should also remember about the creation of the Bank of Japan. Japan’s central bank was founded much earlier than many central banks in Europe. It started operating as early as October 1882. Its statute contains provisions concerning the control, support of the credit system and regulation of the currency system. Until the outbreak of World War I, a strong industrial foundation had been established in Japan, based on the growing import of modern technologies and the use of knowledge and qualifications of foreign specialists. The cotton and energy industry developed particularly dynamically, along with the increasing share of the private sector. Still, agriculture, which provided food to the growing number of people and the increasing population living in cities, was still dominant in the economic structure in this period.

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