Migration and International Investment
One of the interesting questions raised by the period ending in the 1920’s is the nature of the mechanism by which the economies of the leading countries reacted on one another. The subject has recently attracted a good deal of attention, but much work remains to be done before a satisfactory account can be given. We shall begin by examining the part played by movements of population and capital in the growth of the international economy up to 1913. Was there an automatic mechanism guaranteeing relative stability as long as migration continued? What are the main contrasts between the trends since 1945 and those of the nineteenth century? Is the rupture of the old relationship between international investment and international migration a cause of instability?
KeywordsMigration Europe Petroleum Transportation Income
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