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Moneta e investimenti esteri durante il relativo declino dell'impero britannico


  • Mauro Rota
  • Francesco Schettino


Investigating 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 ‘push’ 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 India’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 ‘push’ and ‘pull’ hypothesis as well.

Suggested Citation

  • Mauro Rota & Francesco Schettino, 2008. "Moneta e investimenti esteri durante il relativo declino dell'impero britannico," Working Papers 106, University of Rome La Sapienza, Department of Public Economics.
  • Handle: RePEc:sap:wpaper:wp106

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    More about this item


    Overseas Investments; Bimetallism; Gold Standard.;

    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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