Japanese industrial finance at the close of the 19th century: Trade credit and financial intermediation

In a series of recent studies, several economic historians (most prominently Richard Sylla) argue that successful economies experience “financial revolutions” before undergoing rapid growth. In the U.S., they suggest Hamilton masterminded the financial revolution by putting the public finance in order and facilitating private banks. Might Matsukata, they continue, have done the same in Japan? Japan did indeed experience a financial revolution in the late 19th century. Matsukata, however, did not mastermind the revolution in advance of private-sector demand. Instead, private investors created much of the financial infrastructure in response to demand from industrial firms. What is more, most firms (at least in the pivotal silk industry) raised the funds they needed through trade credit rather than securities markets or banks.     

云南省昭通市蚕桑产业发展探讨

昭通市地处云南省北部山区,蚕桑产业作为当地农特产品支柱产业之一,有着非常广阔的发展前景。该文介绍了昭通市蚕桑产业的发展现状,分析了其现存的问题,提出了发展的基本思路。在此基础上,对产业的发展方向以及产品的市场前景作了深入的探讨。