Do Frontiers give of do frontiers take ? The case of intercontinental trade in France at the end of the Ancien Régime
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.
|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|
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