The Development of a Credit System in Seventeenth-Century Japan

1961 ◽  
Vol 21 (3) ◽  
pp. 342-360 ◽  
Author(s):  
Sydney Crawcour
Keyword(s):  
Economic Development ◽  
Seventeenth Century ◽  
Economic Life ◽  
Credit System ◽  
Commercial Development ◽  
Financial Innovations ◽  
Long Period ◽  
Credit Institutions

At the beginning of the seventeenth century, Japan was just emerging from a long period of internal strife and was beginning to settle down under a centralized feudal system introduced by the newly established Tokugawa government. In the following period of peace, economic development was very rapid. Along with commercial development and the monetization of important sections of the economy, a system of credit institutions evolved, notably in Osaka, which by the end of the century was not inferior to those existing in Europe at that time. The financial innovations and developments of the first half of the century were systematized in the latter half, and the resulting credit system became an indispensable part of Japan's economic life. In particular it played an important part in facilitating the spurt in Japan's economic development which occurred roughly between 1690 and 1740.

Prinsip Dasar Ekonomi Dan Bisnis Dalam Islam

AKADEMIKA ◽  
2015 ◽  
Vol 9 (1) ◽  
pp. 69-77
Author(s):  
Misbahul Khoir
Keyword(s):  
Economic Development ◽  
Economic System ◽  
Human Behavior ◽  
Business Performance ◽  
Positive Impact ◽  
Economic Life ◽  
Universal Values ◽  
The Government ◽  
Islamic Economic ◽  
And Behavior

In order for humans could reach the so-called falah (goodness), human behavior needs to be colored with the spirit and norms of Islamic economics reflected in its values. The principles and values of Islamic economics are considerably two inseparable things. The implementation of economic principles without being colored with values or values without being based on principles could keep people far away from their purpose, namely falah. The implementation of values not based on principles will tend to bring with it the normative economics, which would cause it trapped into injustice. While the implementation of values on the Islamic economic development is based on the five universal values, namely akidah (belief), 'adl (justice), nubuwwah (prophetic), khilafah (the government), and ma'ad (results). The five principles are used as the basis for building theories of Islamic economics. But strong and adequate theories not applied into a system will make the Islamic economics just as the study of science without giving positive impact on the economic life. Therefore, based on the five universal values, the three derivative principles should be built into the characteristics and the forerunner of the Islamic economic system. The Islamic economic system makes sure that there are no economic transactions that are contrary to the Shari'a. But business performance depends on the man behind the gun. For that reason, the economic actors within this framework could be held by non-Muslims. The Islamic economics could only be developed if the mindset and behavior of Muslims are already itqan (diligent) and ihsan (professional). It "may be" one of the secrets of the Prophet's statement, saying "Truly I was sent to perfect good character". Because good character could be an indicator of knowing good or bad behavior in determining both the success and the failure of business itself.

De-development Revisited: Palestinian Economy and Society Since Oslo

1999 ◽  
Vol 28 (3) ◽  
pp. 64-82 ◽  
Author(s):  
Sara Roy
Keyword(s):  
Economic Development ◽  
Development Process ◽  
Economic Life ◽  
The West ◽  
Physical Separation ◽  
Economic Relations ◽  
West Bank And Gaza ◽  
Palestinian Economy ◽  
Key Features ◽  
Emerging Pattern

The years since the Oslo agreement have seen a marked deterioration in Palestinian economic life and an accelerated de-development process. The key features of this process have been heightened by the effects of closure, the defining economic feature of the post-Oslo period. Among its results are enclavization, seen in the physical separation of the West Bank and Gaza; the weakening of economic relations between the Palestinian and Israeli economies; and growing divisions within the Palestinian labor market, with the related, emerging pattern of economic autarky. In the circumstances described, the prospects for sustained economic development are nonexistent and will remain so as long as closure continues.

scholarly journals Credit Accessibility to Vulnerable Sections: Management Perspective

2007 ◽  
Vol 6 (1) ◽  
pp. 86-101
Author(s):  
Veerashekharappa .
Keyword(s):  
Asymmetric Information ◽  
Participatory Approach ◽  
Rural Poor ◽  
Mutual Trust ◽  
Credit System ◽  
Informal Credit ◽  
Management Perspective ◽  
Resource Poor ◽  
Banking Relationship ◽  
Credit Institutions

Despite the vast expansion of the formal credit system in India, the dependence of the rural poor on informal credit institutions continues in some areas especially for meeting the emergency credit requirements. Such dependence is pronounced in the case of marginal farmers, landless labourers, petty traders and rural artisans, etc., particularly in the resource-poor areas. And credit needs of these sections determined in a complex socio-economic milieu, where it is difficult to adopt project lending approach as followed by banks and where the dividing line between credit for "consumption" and "productive" purposes is blurred (NABARD 1999). It is in this context, peoples' management in making credit to poor assumes significance. The participatory approach bring out the mutual trust and over comes the asymmetric information between the members, which is necessary for initiating banking relationship based on trust and confidence.

scholarly journals Innovative Approach to Measuring the Impact of FDI on Some Macroeconomic Indicators in B&H

ECONOMICS ◽  
2018 ◽  
Vol 6 (1) ◽  
pp. 7-15
Author(s):  
Slobodan Subotić ◽  
Živko Erceg ◽  
Vladimir Marković ◽  
Goran Mitrović
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
National Economy ◽  
Direct Investment ◽  
Economic Life ◽  
Capital Export ◽  
Economic Surplus ◽  
Macroeconomic Indicators ◽  
Relationship Of ◽  
The Impact

SUMMARY The necessity of economic life and economic development of every economy is the free movement of capital. The international movement of capital has its balance of payment when capital export represents economic surplus in relation to consumption of the national economy and the import of capital represents an increase of consumption in regard to the output of a national economy. Analysis of the influence of foreign direct investment (FDI) on economic growth of the host country, among other things, is emphasized in the function of the achieved phase of its economic development. Taking all this into consideration, the aim of this paper refers to an attempt to indicate the significance and the role of FDI as well as the importance of attracting foreign direct investment in B&H and the determination of the effects of FDI on the economy of B&H. In this regard, we will try to determine the level of FDI’s impact on some macroeconomic indicators in B&H (GDP, import, export, unemployment) by using contemporary SPSS statistical analysis program (model) and applying the methods (calculating coefficients) of correlation and regression analysis. In other words, we will determine the analytical expression used to describe a statistical relationship of these macroeconomic categories.

scholarly journals THE WAYS TO IMPROVE THE FUNCTIONING OF INFRASTRUCTURE IN UKRAINE

2021 ◽  
Author(s):  
Kristina Stelmakh ◽  
Keyword(s):  
Economic Development ◽  
Regional Integration ◽  
Agricultural Sector ◽  
Economic Life ◽  
Internet Survey ◽  
Transport Sector ◽  
The European Union ◽  
Logistics System ◽  
Transport Services ◽  
Legislative Framework

The research stipulates that the infrastructure is a certain system, and its task is to secure main conditions for the development of other subsystems and the system as a whole. Next, the paper analyzes the relationship between infrastructure and economic development by examining the legislative framework of its sectors and outlines the main problems of functioning and searching for ways to overcome them. The expected economic growth of the country includes quantitative changes in the economy, which are particularly expressed by changes in Gross Domestic Product and improvement of socio-economic life. On the other hand, economic development, which is sometimes called the socio-economic combination of quantitative and qualitative changes, can mostly be reduced to economic transformations and reforms of the sectors of infrastructure. The paper determines the problems of the sectors of infrastructure and the ways to overcome them and develops a range of recommendations. Examining the controlling and its use in the respective domains, in particular in forming of transport-logistics system deserves special attention. Nowadays, the sectors of Ukrainian infrastructure require reforming and improvement, namely selecting the appropriate sector that would bring them closer to the standards of the European Union. For instance, the paper offers the closed Internet survey among the managers and employees of enterprises in the agricultural sector of Lvivska oblast and detects weaknesses in the functioning of the sectors of infrastructure based on their results. The further research stipulates the detection of strengths and weaknesses of infrastructure, legislative framework, and results of conducted reforms, especially in terms of implementation of the 2030 National Transport Strategy Подальші (transport sector management efficiency, provision of qualitative transport services, securing of sustainable transport funding, improvement of security and reliability, improvement of urban mobility and regional integration).

scholarly journals Research on the Development of City Financial Systems under the Rural Revitalization Strategy

2021 ◽  
Vol 5 (5) ◽  
pp. 14-19
Author(s):  
Jilu Liu ◽  
Qiaoyu Zhang ◽  
Xiaoming Zeng
Keyword(s):  
Economic Development ◽  
Product Innovation ◽  
Financial System ◽  
Agricultural Product ◽  
Credit System ◽  
Financial Systems ◽  
Rural Economic Development ◽  
Rural Revitalization ◽  
Multi Level ◽  
The City

The implementation of the rural revitalization strategy can provide a better solution for problems such as the “three rural” development limitations and the imbalance of urban and rural economic development as it is the key to comprehensive building of a well-off society. Based on Linhai City’s finance status, this article analyzes the financial needs of the city for a better economic development under the rural revitalization strategy which prioritizes the policy of building a city financial system. The city’s financial system should be organized in a multi-level stucture for better economic development. This will improve the credit system of villages and towns, strengthen agricultural product innovation financially, and improve the finances of rural residents.

Saving and Spending

2012 ◽  
Author(s):  
Lendol Calder
Keyword(s):  
Economic Development ◽  
Consumer Culture ◽  
Core Competencies ◽  
Economic Life ◽  
Business Success ◽  
Money Management ◽  
Not Given ◽  
History Of ◽  
The Subject ◽  
The Rich

Monetization, which describes the process whereby money became the dominant means of exchange in developing commercial societies, is an economic development whose profound social, political, and cultural consequences are not yet well understood. The monetization of household economic life elevated practices that once affected only the wealthy – Fan Li's ‘golden rules for business success’ – to core competencies of living, mandatory for everyone. Reflecting on the scholarship that has examined saving and spending, this article examines consumption and why historians of consumer culture have not given the financial affairs of consumers the attention the subject deserves. The historical work that has been done, though sparse, amply demonstrates the rich potential of the financial arts for generating significant problem areas for research. Few other subjects in the glittering universe of consumption lead more directly to the largest questions we can ask about desire, virtue, and the construction of the modern self. The article also considers the history of thrift, money management, and financialization.

Establishment and Operation of Private Land Credit Institutions in Penza Province in the Late 1860s – mid 1880s

2021 ◽  
Vol 17 (4) ◽  
pp. 349-360
Author(s):  
Natalia A. Kisteneva
Keyword(s):  
Agricultural Sector ◽  
Private Landowners ◽  
Private Land ◽  
Credit System ◽  
Economic Activities ◽  
Economic Methods ◽  
Private Credit ◽  
Set Up ◽  
The 19Th Century ◽  
Credit Institutions

Introduction. The abolition of public credit institutions in the first half of the 19th century meant that following after the peasant reform, private landowners were forced to rely entirely on their ability to conduct economic activities, they desperately needed the money demanded for the capitalist modernization of their estates. It was important under such circumstances the appearance in the mid-1860s of private land banks that have granted land collateral loans. Materials and Methods. The study of the claimed problem required the involvement of a number of historical and economic methods: historical, statistical and quantitative. At the same time, the question of the amount of debt owed to private land banks was examined on the basis of a comprehensive analysis of statistical data on land credit published by a committee of congresses of representatives of Russian land credit institutions. Results. The article analyzes the main indicators of the activity of the joint-stock land banks in the first two decades of their operation, considers the characteristics of the establishment and development of the private land credit system, the volume of loans issued, the size of the mortgaged land, the amount of the loans are shown by their regional characteristics. Discussion and Conclusions. Set up in mid-nineteenth century the system of equity land credit, which focuses on the granting of land mortgages by private landowners, has played an important role in the processes of land ownership mobilization and the development of capitalism in the agricultural sector. Private credit institutions were one of the most important components of the land credit system, and the activities of these institutions in the territory of the governorate in question resulted in: that almost a quarter of all privately owned land had been deposited in them.

‘Learning to bring dead capital to life’: the Riksens Ständers Bank and the credit market in seventeenth-century Sweden

2019 ◽  
Vol 34 (2) ◽  
pp. 209-230
Author(s):  
Christopher Pihl
Keyword(s):  
Seventeenth Century ◽  
Real Estate ◽  
Credit Market ◽  
Mortgage Lending ◽  
Coherent System ◽  
Credit System ◽  
Personal Trust ◽  
Private Credit ◽  
Property Registration

AbstractSuccessful mortgage lending is often said to require a system of registration, which records the ownership of, and any encumbrances on, a particular piece of real estate. Here we analyse how Sweden's Riksens Ständers Bank handled the uncertainties of the mortgage lending market c. 1680–1700, when there was no coherent system of property registration. The bank tried to make registration compulsory, but when influential groups opposed this move, the bank had to modify its lending practices. The study thus sheds light on the somewhat fraught initial stages of the shifts in the credit system, which from the latter half of the seventeenth century onwards, saw personal trust replaced by system trust, and private credit replaced by institutional credit.

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