ABSTRACT
This chapter aims to clarify how the research of international monetary conditions promoted the internationalization of economics with focus on the Japanese case. By the end of the nineteenth century, the capital market was highly globalized and Japanese bankers, officials and business people conducted their business while closely observing international financial conditions. Financial expertise was gradually called for and scholars who were specialized in finance began to appear in Japan. Japanese scholars and bankers always paid attention to problems of monetary policy and changing monetary systems. They examined financial reports published throughout the world and absorbed monetary theories by reading the finance literature. In Japan, the first academic discussion that appeared in university journals was about the characteristics of the international gold standard and its relations with the domestic financial system, namely the infrastructure for transnational economic activities by Japanese. These discussions and researches promoted the internationalization of economics in Japan as well as in many other countries (De Vries 1996; Polak 1996).
