Study Of The Nationalist Government During The Financial Crisis

Modern market economy is a publicly and privately mixed economic system intervened by government. Under the mixed economic system, the scope of governmental function, especially the economic duty, is so greatly extended that governmental financial function is strengthened. Therefore, the control of financial risk is becoming more and more important for the economic stability and development of a country, and financial crisis has become a common economic phenomenon in modern society. So , it is of great theoretical and practical importance to study the financial crisis during anti-Japanese war under such circumstances.In theory, it is not long for Chinese government to employ public financial theory to manage economy. the theoretical research on financial crisis is not systematic, and the warning system is not built yet. The research on financial crisis during anti-Japanese war will help us deepen the theoretical research on this issue and build up the warning system of financial crisis in China.In practice, the period of anti-Japanese war was a chaotic time both in politics and in economy, and thus it provides a good research example for many economic problems , especially for financial crisis problem. In wartime the signs of financial crisis were very obvious, and the effects of financial policies were very obvious as well. Through the analysis on the start and developing process of the financial crisis and the effects of various policies made to solve the issue, the cause of the crisis is brought out and policies are discussed. The analysis will benefit China's current financial practice and help it to be implemented smoothly.The research purpose of the thesis is to provide experience for the theoretical research of China's financial crisis and some reference forChina's financial practice by researching on the origin, development and solutions of the financial crisis of Guomingdang government during anti-Japanese war period.To reach this goal, the research process of the thesis is as the following: First, analyze the financial crisis situation of Guomingdang government before reform and discuss the cause of the crisis. This is the starting point of the analysis since the financial reform is caused by financial crisis. Then, the main policies made to deal with the financial crisis are summarized. And last, these policies are deeply analyzed to expose the reason for their effect, and to rate the policies objectively. Hence, the root cause of financial crisis is found and proposals are made.. The contents and conclusions of the thesis are as the following.Introduction. First, the literature works on financial crisis during anti-Japanese war are summarized, and several theories are classified. And this is the logic start of the thesis. Second, with the development of financial crisis theory, the insight into this crisis has been deepened. Thus, the basic theory of researching the problem, i.e. public financial theory, is proposed. Last, it is designated as the research purpose of the thesis that the cause of the policy effects is explored to lend itself to the financial theory research and practice in China. And a basic research structure is provided.Chapter One is about theoretical summary. First, financial deficit theories are summarized and the emphases are on the classification of financial deficit, the two different ways to bridge the deficit, and the economic effects of different ways: impacts on monetary circulation and investment. Second, it introduces that how the financial crisis is formed and transmitted. In Chapter Two the author analyses the conditions and reasons for financial crisis of Guomingdang government before the reform. First, the author introduce the condition of financial crisis of Guomingdanggovernment from three respectives including financial deficit, national debt and inflation . Then, we point out the two reasons that caused the financial crisis before the reform: one was the sharp increase of the financial expenditure mainly including military...