Over the last decade, it has been said that deregulation and the transformation of the financial system are key issues for the revitalization of the Japanese economy. But when, how, and why did the regulations which are in operation today begin? The answers to these questions should help us to understand the meaning and potential results of deregulation now. This was the topic selected as the common theme of the sixty-ninth annual conference of the Socio-economic History Society. We examined the beginning of regulation in five countries (the United States, Germany, France, the United Kingdom, and Japan) during the interwar period, with special reference to the relationship with what is known as the great depression. The following conclusions were drawn about the U.S., Germany and Japan, which all experienced severe economic and finansial difficulties: In the U.S., regulation was uniform and transparent. In Germany and Japan, however, administrative control of financial affairs was strengthened, and the role of the government in the economy grew. In France and the U.K., however, the financial crisis was less severe, with the collapse of some banks in the former, but none in the latter. This was not so much the result of a skillful response from the central banks and governments of the two countries, but because of historical differences in their financial structure.
抄録全体を表示