Credit Business of an Agricultural Cooperative in Modern Japan: The Case of the Takedate Cooperative
AbstractThis study examines the well-known Takedate Cooperativefs credit activities from 1907 until the 1930s. This cooperative established its credit division in 1914 because its members had difficulty raising money from the financial market after poor rice harvests. Additionally, the another purpose was to controlled member behavior by providing preferential financing terms to frequent users of its production and marketing activities and to those who obeyed its rules. This lending practice allowed cooperative members to grow apples as well as rice until the early 1920s. However, in the wake of poor business conditions after World War I, the cooperative reduced loan amounts, lent money only to cover living expenses, and pressed members to save money. The cooperativefs loan rate rose above that of the Aomori prefecturefs financial market, leading many competent members to withdraw their memberships. However, this action did not result in the stagnation of the cooperative. In Takedate village, the central area of the cooperative, peasants could still borrow money without security, and thus, 80% of farm households continued to grow apples, leading to greater affluence in the 1930s.
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Bibliographic InfoPaper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 12-14.
Length: 25 pages
Date of creation: Jul 2012
Date of revision:
Japanese economic history; Japanese business history; agricultural cooperative; credit business;
Find related papers by JEL classification:
- N55 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Asia including Middle East
- N85 - Economic History - - Micro-Business History - - - Asia including Middle East
This paper has been announced in the following NEP Reports:
- NEP-AGR-2012-08-23 (Agricultural Economics)
- NEP-ALL-2012-08-23 (All new papers)
- NEP-HIS-2012-08-23 (Business, Economic & Financial History)
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