The Dojima rice exchange : from rice trading to index futures trading in Edo-Period Japan / TAKATSUKI Yasuo ; translated by Louisa Rubinfien.

Format:

Book

Author/Creator:

Takatsuki, Yasuo, 1979-

Contributor:

Rubinfien, Louisa, translator.

Standardized Title:

Ōsaka Dōjima komeichiba. English

大坂堂島米市場. English

Language:

English

Japanese

Subjects (All):

Rice trade--Japan--Osaka--History.

Rice trade.

Rice trade--Japan--Osaka--History--18th century.

Rice trade--Japan--Osaka--History--19th century.

Physical Description:

231 pages : illustrations, maps ; 22 cm.

Edition:

First English edition.

Place of Publication:

Tokyo : Japan Publishing Industry Foundation for Culture, 2022.

Summary:

The Dojima Rice Exchange of the Edo period (1603-1868), located in Osaka, Japan, is known among researchers as "the world's first futures trading market." Much as modern markets do today, the Edo-period Dojima market had a market for trading securities called rice certificates and an index futures market for trading indices derived from those securities. The market economy and the Exchange itself became extraordinarily dynamic, astounding observers of the time. But a dynamic market poses its own challenges, as we in our times know all too well. How did the people and government of the Edo period, who had no precedents to draw on, let alone economists to consult, contend with what was often a runaway market? The story of how the futures market developed and functioned at Dojima reveals the true nature of the "market economy."

Contents:

Introduction

The birth of Osaka as Japan's central market

The emergence of the Osaka Rice Market

The establishment of the Dojima Rice Exchange

Rice certificates

Transactions in the Dojima Rice Exchange

Rice inspections in the Daimyo Domains

The 1761 Law prohibiting empty rice certificates

The Shogunate's response to the "empty rice-certificate" problem

The Shogunate's response to the problem of falling rice prices

The Edo-era revolution in communications.

Notes:

Includes bibliographica references (pages 208-219) and index.

ISBN:

9784866582191

4866582197

OCLC:

1344225807