BORDO, MICHAEL D.; MEISSNER, CHRISTOPHER M. - In: European Review of Economic History 15 (2011) 01, pp. 61-91
We explore the association between income and international capital flows between 1880 and 1913. Capital inflows are associated with higher incomes per capita in the long run, but capital flows also brought incomes down in the short run via financial crises. Countries just barely made up for...
