Moneta e investimenti esteri durante il relativo declino dell'impero britannico
AbstractInvestigating on the reasons of British overseas investments (1850-1913) we analyze two different approaches on data concluding that they are not different from a stochastic view. Inquiring on â€˜pushâ€™ approach, we find that exists negative correlation between GDP and overseas investments where the former cause the latter. Link between monetary events and colonialism highlights Indiaâ€™s role as a reserve of bullions. In this way, British capital was able to complete its natural cycle draining money for future foreign investments. This improves the theory by introducing the monetary element in â€˜pushâ€™ and â€˜pullâ€™ hypothesis as well.
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Bibliographic InfoPaper provided by University of Rome La Sapienza, Department of Public Economics in its series Working Papers with number 106.
Date of creation: Jan 2008
Date of revision:
Overseas Investments; Bimetallism; Gold Standard.;
Find related papers by JEL classification:
- N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
- N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
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