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

Mauro Rota and Francesco Schettino

No 106, Working Papers in Public Economics from Department of Economics and Law, Sapienza University of Roma

Abstract: 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.

Keywords: Overseas Investments; Bimetallism; Gold Standard. (search for similar items in EconPapers)
JEL-codes: E42 N10 N13 (search for similar items in EconPapers)
Pages: 27
Date: 2008-01
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