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Les investissements internationaux européens. Réflexions sur la valeur analytique des quantifications

Listed author(s):
  • Albert Broder

[fre] Le but de l'article consiste à modifier les perspectives de l'étude de l'investissement international au XXe siècle à partir de l'évolution des trois investisseurs majeurs à la veille de la première guerre mondiale : le Royaume-Uni, la France et l'Allemagne. La première partie essaie de faire le point de la situation des capitaux extérieurs de ces trois puissances au lendemain du conflit et de tenter, dans la limite des données disponibles, de mesurer leur évolution entre les deux guerres et de faire le point en 1938. Une nouvelle époque s'ouvre en 1954 au cours de laquelle la nature de l'investissement international se modifie profondément. À une phase de stagnation au niveau très bas que justifie l'état financier des nations intéressées jusqu'aux années soixante, succèdent une reprise et une accélération du mouvement des capitaux. La nature de ces derniers, la remise en question des industries, l'internationalisation des entreprises et des flux financiers, la véritable révolution dans les technologies financières, l'irruption de nouveaux modes d'investissement à partir des années soixante-dix confirment le caractère obsolète des tentatives de mesure par nation ou de définition des rapports de puissance à partir de quantifications de plus en plus fugaces et éloignées des réalités. La conclusion porte sur la nécessité pour l'historien de revoir ses représentations, de définir de nouvelles problématiques afin de disposer d'instruments conceptuels dynamiques adaptés à une réalité plus que jamais changeante. Ces nouvelles problématiques devant permettre de réappréhender le passé en incluant dans les analyses historiques le caractère international de certains mouvements de capitaux passés, les investissements immatériels (brevets, marques) importants dès les débuts du XXe siècle et de sortir du cadre idéologique étroit tracé par les économistes anglo-saxons de l'entre-deux-guerres et de l'école française des relations internationales. [eng] European international investments Some reflections about interwar quantifications and the analytical value of applying traditional methods to the realities of the second half of the twentieth century. The aim of this paper is to offer a modified view about international investment in the XXth century, beginning with the data of the three main investor countries prior to World War I: UK, France and Germany. The first part of the study gives a very global sketch of well known statistics, while showing their limits and technical failures. It gives also some tables stating the inter war evolution and global situation in 1938. The main point is stated in the second part beginning with a survey of the situation of the three countries in 1945-1950, it examines the post 1960 evolution and above all the post 1974 years. The new forms of capital, the internationalisation, freedom and total dematerialization of money markets, the new forms of international investments, their fluidity and instability, the vanishing governments and central banks control and authority, and above all the new patterns of international investments, in relation with the new activities, are depriving of any scientific value the traditional computing, economical or historical methods stated. It suggests a critical reading of the British and US publications from the inter war period onwards and those on the French school of international relations. New questions arise that must be answered with today materials that can only be assembled by newly devised investigation methods. Not only new ways of looking into international investment are a necessity if we want to understand and explain the path the international economy is following, but it will also help to resolve the numerous and often non quantifiable shortcomings of past publications. all the post 1974 years. The new forms of capital, the internationalisation, freedom and total dematerialization of money markets, the new forms of international investments, their fluidity and instability, the vanishing governments and central banks control and authority, and above all the new patterns of international investments, in relation with the new activities, are depriving of any scientific value the traditional computing, economical or historical methods stated. It suggests a critical reading of the British and US publications from the inter war period onwards and those on the French school of international relations. New questions arise that must be answered with today materials that can only be assembled by newly devised investigation methods. Not only new ways of looking into international investment are a necessity if we want to understand and explain the path the international economy is following, but it will also help to resolve the numerous and often non quantifiable shortcomings of past publications.

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File URL: http://dx.doi.org/doi:10.3406/reco.2000.410510
Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

File URL: http://www.persee.fr/doc/reco_0035-2764_2000_num_51_2_410510
Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/

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Article provided by Programme National Persée in its journal Revue économique.

Volume (Year): 51 (2000)
Issue (Month): 2 ()
Pages: 245-256

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Handle: RePEc:prs:reveco:reco_0035-2764_2000_num_51_2_410510
Note: DOI:10.3406/reco.2000.410510
Contact details of provider: Web page: http://www.persee.fr/collection/reco

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