The Copper Coins Trade Between Song Dynasty And Japan And The Problem Of Cash Shortage From The11TH To The13TH Centuries

In11-13th centuries, there was lots of international trade in East Asia, especially in copper coins trade between Song dynasty and Japan. Song dynasty exported lots of silk、copper coins and books to Japan. And Japan exported lots of gold, sulphur and wood to Song dynasty. From this trade, lots of copper coins flowed into Japan. Copper coins trade caused two problems:on the one hand, it made the problem of cash shortage more serious in Song dynasty; on the other hand, it caused the problem of cash shortage in Japan-the problem of cash shortage constrained economic development in Japan. So the problem of cash shortage constrained international trade development between Song dynasty and Japan.The thesis consists of five chapters.The first one is introduction, which includes the purpose and significance of the research, these research results, research methods and innovation.The second one introduces the economic development of Song dynasty and Japan in11-13th century. The open policy in Song dynasty and Japan led to lots of international trade. The production of lots of Song copper coins was elementary in copper coins trade. The development of agriculture, handicraft and haciendas promoted the development of copper coins trade in Japan.The third one introduces some historical facts in copper coins trade between Song dynasty and Japan, enumerates some commodities and analyses the reasons of copper coins trade and international division.Different efficiencies in different industries caused copper coins trade. The reason of international division between Song dynasty and Japan was that there were different resources in Song dynasty and Japan. Song dynasty was rich in capital and technique. So Song dynasty produced capital and technology intensive products, for example, silk, copper coins and china. Japan was rich in mineral and wood resources. So Japan produced sulphur and wood.The fourth one analyses the reason of cash shortage in Song dynasty and Japan from the demand and supply perspective. From the supply perspective, three policies-prohibition of using copper unofficially, exporting copper cash, producing copper cash by unofficial companies-restricted the production capacity of copper cash in Song dynasty, these caused the supply shortage of Song copper cash. From the demand perspective, stagflation arise in Song dynasty and Japan from11-13th centuries gradually. Because the people’s market expectations were pessimistic, nobody would reproduce on extended scale. This made lots of copper cash be stored and the problem of cash shortage was more serious in Song dynasty and Japan. The stagflation was the main reason of cash shortage in Song dynasty and Japan.The fifth one is conclusion, analyses and summarizes the main points and contents briefly.