| On the Development of Rotating Credit Associations in Japan. | |||||
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| While economic growth raises income and wealth and promotes financial intermediation, financial intermediation facilitates economic growth, since it raises the returns to investment. In this article we study the development of an important informal financial intermediary in Japan, the rotating savings and credit association called the "mujin-ko" or "tanomoshi-ko".. ECONOMIC GROWTH ; INCOME ; WEALTH ; INVESTMENTS ; ECONOMIC DEVELOPMENT | |||||
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