Showing papers in "Developing Economies in 1962"

Economic growth of postwar japan

Abstract: t the end of World War II, most Japanese believed that the postwar reA habilitation would be filled v'ith hardships and that it would take many years to attain the prewar level of standard of living. Japan was heavily destroyed by the war and was cut off from the traditional neighbour Asian market. With a national territory reduced to the size of the State of . California, of which not more than 16% is arable, it was considered as an almost impossible task to support her 100.000,000 inhabitants. The postwar revival and expansion was, however, so fast that it astonished the Japanese themselves. In 1953, the per capita real tlational income had reached the average prewar level of 1934-1936, and the rapid economic growth still continued. In 1949 the per capita income was $ 100, in 1959 it was about $300, and in 1961 it reached the $400 mark,1 or about half of that of West European nations but flve times that of Southeast Asian countries. (See Table 1)

The financial system in india

Abstract: This is a joint study by Hiro-o Hirota, Minoru Fukazawa, Toshio Murai, Fumio Okesha, Shigeyoshi Kamatani, and Yukio Kihara. So far, Japan's interest in the Indian economy has been centred on economic development programmes and foreign trade, and, there has been little comprehensive research on their financial system. The joint research project on India's financial structure conducted recently by five researchers under the sponsorship of the Institute of Asian Economic Affairs is the first undertaking of any magnitude on this problem. The word " financial system " bears various meanings, both broad and restrictive. This research project did not confine itself to finance in a narrow sense, i.e., the structure of capital circulation or tq financial institutions. Rather, the emphasis was placed on clarifying the entire structure of industrial and flnancial circulation of funds in India. As there is a scarcity of original data available, the preparation by the researchers was, of necessity, restricted. Accordingly, this report is, in some cases, an introduction or summary of the data on India, while some portions constitute an experimental type of report not based on extensive research. Therefore, the connection and coordiantion between chapters are not claimed to be perfect; yet, this report is without doubt an important introduction to research on this type of problem in our country. The theme for this joint research report could also be entitled " The source of funds for economic development and the structure of funds demand and supply. " At present, the funds for economic development of India are mainly acquired from three sources : I ) tax revenue; 2) domestic loans, and 3) foreign loans. These three sources will be discussed in the following chapters: tax revenue in chapter one " Structure of Public Finance and Capital Formation "; domestic loans in chapter two " Financial 'Institution "; and foreign loans in chapter five " Foreign Investments. " The structure of money demand and supply will be examined closely in chapter two and chapter three " Agricultural Financing " and chapter four " Foreign Exchange Banks. " Especially in chapter four the histories and the present conditions of the leading domestic and fore.ign banks now in operation in India have been thoroughly discussed. Next, the contents of the various chapters will be reviewed.

Socio-economic significance of land reform in southeast asian countries

Abstract: N the 20th century, capitalist countries experienced two major up~urges I of land reform : One in years immediately following World War I and the other in the period from the termination of World War 11 up to the present day. It occurred in East European countries in the former period, and in. the latter period, in Asian, Middle, and Near Eastern countries and in some parts of Europe. With respect to the problem of the development of less-developed countries, which has been taken up by both camps of East and West as a part of their world policies, the enforcement of land reform is regarded as one of the fundamental conditions for it. Consequently, in the family of free nations recognition of the importance of carrying out land reform has led to many researches and recommendations being made on this problem by the United Nations ~nd various institutes. For instance, in the United Nations report, Measures for the Economic Development of Underdeveloped Countries, prepared by five specialists, including Prof. T. W. Schultz, reference was made to the importance of land reform for underdeveloped countries, as follows. First, regarding the need for securing tenure, it states, "Private enterprise will not yield its best results unless legal and social institutions are such that the private initiator secures the fruit of his own effort. Of the many spheres where this is lelevant, the most important sphere which is widely neglected in underdeveloped countries is the contract between the cultivator and his landlord. Tenancy legislation should protect the tenant against arbitrary disturbance, giving him secure tenure so long as he practises good husbandry. And it should protect his right to compensation, upon termination of the tenancy, for any unexhausted improvements which he has effected."I Regarding the necessity of land reform, or need for abolishing in Yarying degrees landholding in huge estates, it continues : " In many underdeteloped countries, the cultivators of the soil are exploited mercilessly by a landlord class which performs no useful social function. This class