This paper studies the role of the French intercontinental trading maritime frontier in domestic capital accumulation at the end of the Ancien Régime. It uses O'Brien's method to measure the amount of annual profits generated in this sector. The net gain is then computed by computing how much income and savings the resources invested in the intercontinental sector would have had if they have been invested in the French domestic economy. Finally, using the notion of "heart of growth", the paper suggests that this frontier was more important for its attractiveness for domestic capitalists than for the riches it distributed.
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Paper provided by Observatoire Francais des Conjonctures Economiques (OFCE) in its series Documents de Travail de l'OFCE with number
2003-03.
Length: Date of creation: 2003 Date of revision: Publication status: forthcoming in "A Deus Ex Machina Revisited. Atlantic Colonial Activities and European Economic Development" Olivier Pétré-Grenouilleau et Pieter Emmer, ed., Ashgate, expected 2004 Handle: RePEc:fce:doctra:0303
Find related papers by JEL classification: F1 - International Economics - - Trade N1 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
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