Abstract
Let us consider next the pattern of allocation of capital entering through private channels. Although these investments were guided mainly by the market forces at home and abroad, they must also be seen against the background of economic policies we have broadly outlined. Furthermore, the allocation of foreign private capital must be avaluated in conjunction with the allocation of foreign capital by the governments, and, more generally, within the framework of the aggregate investment activity.
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Notes
Herman Feldstein, Verm ögens-und Zahlungsbilanz Galiziens (Leipzig: F. A. Brockhaus, 1917), pp. 69–84.
Foreign capital in the lumber industry rose from 8.3 million zlotys (16% of the total) in 1930 to 16.2 million (33% of the total) in 1935. P. H. Seraphim, “Das Ausland-kapital in der polnischen Wirtschaft,” Ost-Europa Markt, March, 1937, pp. 144-31.
The role of foreign capital in Galicia which has a Ukrainian majority would merit a separate study. The colonial position of Galicia in Austro-Hungary and, later, in Poland was analogous to the position of Eastern Ukraine in the Russian Empire. The socio-political repercussions of foreign capital which enters a subjected territory via the financial centres of the colonial power is treated in a chapter entitled “Finance Capital in Ukrainian Industry,” in Konstantyn Kononenko, Ukraine and Russia: A History of the Economic Relations between Ukraine and Russia (1654-1917) (Milwaukee: Marquette University Press, 1958), pp. 158–95.
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© 1964 Springer Science+Business Media Dordrecht
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Bandera, V.N. (1964). Allocation of Private External Loans. In: Foreign Capital as an Instrument of National Economic Policy. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-6818-4_10
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DOI: https://doi.org/10.1007/978-94-017-6818-4_10
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