External Equilibrium and Internal Convertibility

Taking as a frame of reference the relationship between equilibrium in the balance of payments and domestic economic growth, the objective of this paper is to examine the role of central banking in financial policy in Japan in the latter part of the nineteenth century. Certain of the financial problems which Japan then faced are those which perplex many underdeveloped countries today. They may be considered in terms of three highly interrelated problem areas: government expenditures and revenues; the monetary system; and the balance of payments

Balance (ability · Balance of payments · Capital account · Central bank · Convertibility · Currency · Current account · Economics · Financial system · Government (linguistics · International economics · Lender of last resort · Macroeconomics · Monetary economics · Monetary policy · Payment · Revenue · Economic Theory and Policy · Finance · Historical Economic and Social Studies · Political Economy and Marxism

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