An : the Banque Nationale de Belgique as a model for the Bank of Japan
AbstractIt is established historical knowledge that the Bank of Japan (1882) was modelled upon the Banque Nationale de Belgique (1850). In this article, I point out how Japan s recurrent frustration with foreign dependence nurtured a social Darwinist view of international politics and finance: Japan s capability to survive in the world was believed to be dependent on its capability to assimilate foreign knowledge and institutions. In the field of finance, Matsukata Masayoshi, Japan s most enlightened financial policy maker at the time, turned to Belgium. I explain that Matsukata was dedicated to the emulation of Belgium s financial infrastructure, in which several public institutions would each be responsible for a specific area of the credit system. I indicate how efforts to adopt Belgian institutions and banking ideas proceeded meticuluously; yet, in the end, Japanese and Belgian finance developed along quite distinct pathways.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal Financial History Review.
Volume (Year): 13 (2006)
Issue (Month): 02 (October)
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