In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it more than 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners...

In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it more than 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners...

Dr Yasutomi who had earlier contributed an essay on Japan's financial activities in Manchuria down to 1931 to the International Studies series, completed with this essay the topics he studied during his two years as Research Associate. It explains how Manchuria became in 1935 part of the Yen...

In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it more than 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners...

In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it morethan 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners...

Dr Yasutomi who had earlier contributed an essay on Japan's financial activities in Manchuria down to 1931 to the International Studies series, completed with this essay the topics he studied during his two years as Research Associate. It explains how Manchuria became in 1935 part of the Yen...

Professor Nishimura examines the role of British banks in promoting Chinese trade and, more broadly, the relationship between foreign banks and traditional Chinese banking institutions in modernizing the local economy. Dr Yasutomi who is already well-known for his study Manshukoku no kinyu...