International Capital Markets and American Economic Growth, 1820-1914 / Edition 1

by Lance E. Davis, Robert J. Cull

Overview

This book examines the economic impact and the political economy of foreign investment in the United States and of American investment abroad. It provides quantitative estimates and qualitative descriptions of the sources and uses of those funds and, in the process, an analysis of the symbiotic relationship between the New York and London stock exchanges and of the evolution of the American domestic capital market. Finally, it explores the domestic political response to foreign investment in Latin America, in Canada, and in the United States.

Product Details

ISBN-13:	9780521526449
Publisher:	Cambridge University Press
Publication date:	07/18/2002
Edition description:	First Paperback Edition
Pages:	180
Product dimensions:	5.98(w) x 9.02(h) x 0.43(d)

Table of Contents

1. The international flow of finance: an overview; Introduction; Net flows of capital; 2. The sources and uses of foreign capital; The sources and the industrial disposition of foreign capital: the quantitative evidence; The sources and the industrial disposition of foreign capital: the qualitative evidence; a) 1803–40; b) 1840–1914: railroads; c) 1840–1914: government securities; d) 1840–1914: land-related investments; e) 1840–1914: commerce and manufacturing; 3. The economic, social, and political response to foreign investment in the United States; The American response; The response of foreign investors; 4. Two securities markets: London and New York; The London and New York Stock Exchanges in the late 19th century; The American domestic capital market and the demand for foreign capital; 5. American investments abroad; Introduction; The early years: 1797–1896; Towards maturity: 1897–1914; 6. Summary and conclusions.

Editorial Reviews

"This inquiry is well conceived and is clearly and concisely presented. Documentation is thorough and, with the bbiliography, serves as an excellent review and update of the pertinent sources." Paul Abrahams, The Journal of American History

"...a well documented overview of America's experience in the international capital market." Kerry Odell, American Historical Review

"This small book manages to cram a lot into a little, and to do it rather well." James R. Lothian, Journal of Interdisciplinary History

From the Publisher