ABSTRACT

This chapter estimates the total amount of capital available in current prices for investment in Manchurian mining, manufacturing, transportation and communications. Total capital available for investment in these Manchurian industries has been estimated by summing up annual increases in paid-up capital, bonds, loans and the amount of earnings retained. In the case of an economy effectively controlled by the government, the distinction may break down completely and investment components may be such good substitutes for each other that they are indistinguishable in effect. Japanese language sources referring to the period after 1941 are difficult to locate. Statistics on the amount of paid-up capital and bonds of Manchurian corporations are available in several of the statistical yearbooks published during the period. The presence of firms containing substantial vertical integration and diversification has clouded the analysis of structural shifts within the sectors under study.