Cookies?
Library Header Image
LSE Research Online LSE Library Services

British capital and merchandise exports, 1870-1913: the bilateral case of New Zealand

Varian, Brian D. (2017) British capital and merchandise exports, 1870-1913: the bilateral case of New Zealand. Australian Economic History Review, 57 (2). pp. 239-262. ISSN 0004-8992

[img]
Preview
PDF - Accepted Version
Download (605kB) | Preview
Identification Number: 10.1111/aehr.12128

Abstract

The Ford thesis argued that there was a short-term causal relationship between British overseas investment and British merchandise exports in the late nineteenth century. However, economic historians since Ford have found little empirical evidence in support of this argument. Using data on bilateral British lending, this article finds that such a relationship did exist, with British ex ante lending preceding merchandise exports by 2 years. A case study of New Zealand, which had an extraordinarily high share of Britain in its imports, reveals that the relationship was conditional upon the lending being allocated to social overhead capital.

Item Type: Article
Official URL: http://onlinelibrary.wiley.com/journal/10.1111/(IS...
Additional Information: © 2016 Economic History Society of Australia and New Zealand and John Wiley & Sons Australia, Ltd
Divisions: Economic History
Subjects: H Social Sciences > HC Economic History and Conditions
JEL classification: F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment; Long-Term Capital Movements
N - Economic History > N7 - Transport, International and Domestic Trade, Energy, Technology, and Other Services > N73 - Europe: Pre-1913
N - Economic History > N7 - Transport, International and Domestic Trade, Energy, Technology, and Other Services > N77 - Africa; Oceania
Sets: Departments > Economic History
Date Deposited: 19 Jan 2017 16:47
Last Modified: 20 Jul 2021 02:36
URI: http://eprints.lse.ac.uk/id/eprint/68925

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics