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Investing in a Wealthy Resource-Based Colonial Economy: International Business in Australia before World War I

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  • Ville, Simon
  • Merrett, David Tolmie

Abstract

The article is a rare investigation into multinational activity in a wealthy resource-based colonial economy toward the end of the first wave of globalization. It challenges the conventional wisdom that multinationals had a limited presence in pre-1914 Australia, where government loans and portfolio investment from Britain into infrastructural and primary industries dominated. Our new database of nearly five hundred foreign firms, from various nations and spread across the host economy, shows a thriving and diverse international business community whose agency mattered for economic development in Australia. Colonial ties, natural resources, stable institutions, and high incomes all attracted foreign firms.

Suggested Citation

  • Ville, Simon & Merrett, David Tolmie, 2020. "Investing in a Wealthy Resource-Based Colonial Economy: International Business in Australia before World War I," Business History Review, Cambridge University Press, vol. 94(2), pages 321-346, July.
    • Handle: RePEc:cup:buhirw:v:94:y:2020:i:2:p:321-346_3
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    Cited by:

    1. Grant Fleming & Frank Liu & David Merrett & Simon Ville, 2022. "Share ownership and the introduction of no liability legislation in nineteenth-century Australia," CEH Discussion Papers 11, Centre for Economic History, Research School of Economics, Australian National University.
    2. Grant Fleming & Frank Liu & David Merrett & Simon Ville, 2021. "The Australian corporate bond market before credit ratings, 1915-83," CEH Discussion Papers 03, Centre for Economic History, Research School of Economics, Australian National University.

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