Work

Financing Japan's World War II Occupation of Southeast Asia

Year: 2013

Type: article

Abstract: This article analyzes how Japan financed its World War II occupation of Southeast Asia, the market-purchased transfer of resources to Japan, and the monetary and inflation consequences of Japanese policies. Occupation was financed principally by printing large quantities of money. While some Southeast Asian countries had high inflation, hyperinflation hardly occurred because of a sustained transactions demand for money and because of Japan's strong enforcement of monetary monopoly. Highly specialized Southeast Asian economies and loss of Japanese merchant shipping limited resource extraction.

Source: The Journal of Economic History

DOI: 10.1017/s0022050713000843

Authors: Gregg Huff, Shinobu Majima

Institutions: University of Oxford, Gakushuin University

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

Funders: Harvard University, Royal Economic Society, Economic and Social Research Council

Award: G2264981746