Advanced Search
MyIDEAS: Login to save this article or follow this journal

The Bank of Japan Network and Financial Market Integration: From the Establishment of the Bank of Japan to the Early 20th Century

Contents:

Author Info

  • Mari Ohnuki

    (Institute for Monetary and Economic Studies, Bank of Japan (E-mail: mari.oonuki@boj.or.jp))

Registered author(s):

    Abstract

    One of the purposes cited for establishing the Bank of Japan (BOJ) was to gfacilitate financeh by promoting the nationwide integration of the regional financial markets, which until that point had been divided and functioned independently. Nonetheless, much remains unknown about Japanese financial transactions and the operations of the BOJ during the Meiji Period, and the role the BOJ played in the process of domestic financial market integration is still not sufficiently clear. The purpose of this paper is to examine, using interest rate data and documentary evidence of financial transactions, the role played by the BOJ in the process of financial market integration in Meiji Period Japan. The analysis finds that, from the perspective of reducing inter-regional interest rate differences, there was indeed significant progress toward financial market integration in the latter half of the 1890s. It also finds that the BOJ may have played a role in promoting financial market integration because the expansion of its networks (a correspondent network with privatesector banks and a branch office network) served to facilitate the movement of funds between regions through the funds transfer services it provided.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.imes.boj.or.jp/research/papers/english/me25-1-5.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by Institute for Monetary and Economic Studies, Bank of Japan in its journal Monetary and Economic Studies.

    Volume (Year): 25 (2007)
    Issue (Month): 1 (March)
    Pages: 95-128

    as in new window
    Handle: RePEc:ime:imemes:v:25:y:2007:i:1:p:95-128

    Contact details of provider:
    Postal: 2-1-1 Nihonbashi, Hongoku-cho, Chuo-ku, Tokyo 103
    Phone: +81-3-3279-111
    Fax: +81-3-3510-1265
    Email:
    Web page: http://www.imes.boj.or.jp/
    More information through EDIRC

    Related research

    Keywords: Financial market integration; Payments network; Bank of Japan; Correspondent network funds transfers; Movement of funds;

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ime:imemes:v:25:y:2007:i:1:p:95-128. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kinken).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.