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Argentina and the World Capital Market: Saving, Investment, and International Capital Mobility in the Twentieth Century

  • Alan M. Taylor

This paper is concerned with integration in the world capital market between the" economies of the core and periphery in the twentieth century. It proceeds with some general" observations and with a special focus on the case of Argentina. I will argue that understanding" the changing relations in international capital markets offers important insights into the growth" and development process, especially for the countries of the periphery. Moreover extent of market integration in history informs current conditions in the relationship between" capital-scarce economies, like Argentina, and the global capital market as a whole. Looking to" the future, the repercussions of economic reform and demographic change suggest likely" implications for future saving, investment, and international capital flows."

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6302.

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Date of creation: Dec 1997
Date of revision:
Publication status: published as Journal of Development Economics, Vol. 57, no. 1 (October 1998): 147-184.
Handle: RePEc:nbr:nberwo:6302
Note: IFM DAE
Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Phone: 617-868-3900
Web page: http://www.nber.org
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  8. Alan M. Taylor, 1996. "International Capital Mobility in History: Purchasing-Power Parity in the Long Run," NBER Working Papers 5742, National Bureau of Economic Research, Inc.
  9. Taylor, Alan M. & Williamson, Jeffrey G., 1997. "Convergence in the age of mass migration," European Review of Economic History, Cambridge University Press, vol. 1(01), pages 27-63, April.
  10. Jansen, Willem Jos & Schulze, Günther G., 1993. "Theory-based measurement of the saving-investment correlation with an application to Norway," Discussion Papers, Series II 205, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
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  18. Jeffrey D. Sachs, 1989. "Developing Country Debt and the World Economy," NBER Books, National Bureau of Economic Research, Inc, number sach89-3, May.
  19. J. Bradford De Long & Lawrence H. Summers, 1990. "Equipment Investment and Economic Growth," NBER Working Papers 3515, National Bureau of Economic Research, Inc.
  20. Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73.
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