- 166 Downloads
The period from the 1870s to 1914 was the peak of the nineteenth-century globalisation characterised by increased movement of capital across the world.1 Britain — specifically, the London market — was the major source of foreign capital flows, accounting for 62 per cent of foreign investment in 1870. In 1914, Britain (at 43 per cent), France (20 per cent) and Germany (13 per cent) together accounted for 76 per cent of total foreign investment (see Table 1.1). The major part of the remaining investment was held by Belgium, the Netherlands and Switzerland.2
KeywordsSovereign Debt Debtor Country International Financial Market Fiscal Capacity Bond Spread
Unable to display preview. Download preview PDF.