The Japanese economy suffered enormous losses during World War II, but only 10 years after its postwar start it reattained its prewar level in both production and standards of living. In the subsequent decade the economy has achieved a remarkable expansion in scale together with rapid progress in business rationalization, and is approaching the level of European economies. In April 1964 Japan became an Article 8 nation under the International Monetary Fund Agreements and was also accepted as a regular member of the O.E.C.D.
KeywordsCommercial Bank Saving Bank Bond Issue Loan Programme Open Market Operation
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