@article{1445603,
      recid = {1445603},
      author = {Sui, Qing-yuan,},
      title = {Money and government : a study of china and japan from a  historical perspective /},
      pages = {1 online resource (1 volume) :},
      abstract = {This is the first book to focus comparatively on the  development processes of finance in China and Japan during  the prewar period. The key issue is how to evaluate the  role of government in the establishing of modern financial  system. Both China and Japan started from a similar  pre-modern situation in the middle of 19th century in that  the monetary conditions were primitive and complicated, the  traditional financial institutions were  money-exchange-based, and above all, both countries had  faced serious challenging pressure from the Western powers.  International or domestic military affairs largely affected  the development processes in both countries. While Japan  succeeded in establishing its modern financial system that  consistently supported its economic growth, China failed to  modernize its money and banking system effectively at least  until the end of World War II and the government had to  change hands to the socialists, which further delayed the  financial development. The experience of Japan suggests  that the establishment of modern financial system may not  simply be as a result of "spontaneous order", a concept  used by Hayek, at least for the case of a catching-up  country. The evolution process of money and banking in  China shows that the role of government, especially its  enforcement ability of and compliance to the rule of law  may be more important than the "legal origins".},
      url = {http://library.usi.edu/record/1445603},
      doi = {https://doi.org/10.1007/978-981-16-8874-4},
}