The Evolution of the Financial System in Post-War Japan
本文分析了战后日本金融体系如何通过主银行制度、政府监管和机构协作支撑高速增长，适合研究金融发展与经济增长关系的学者参考。
The Japanese financial system is regarded as a key factor behind Japan's remarkable post-war growth. The main bank arrangements, linking companies with a principal source of funds, and complementary institutional networks were complex and intricate, and underpinned industrial investment and expansion. In the 1950s, the city banks, as the main banks of manufacturers, were asked to supply large amounts of funds to their clients, acting as substitutes of the stock market. As their liquidity decreased, post-war reconstruction policies reduced their risk-bearing capabilities. In order to stabilise the system and to sustain the funds needed for strategic industries, the Ministry of Finance and the Bank of Japan began actively to regulate the financial markets, while the Ministry of International Trade and Industry co-ordinated policy with the industrial sector. It was this system of complementary institutions, including the main banks, long-term financial institutions, and government agencies, which enabled Japan's high-speed growth.