NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Argentina and the World Capital Market: Saving, Investment, and International Capital Mobility in the Twentieth Century

Alan M. Taylor

NBER Working Paper No. 6302
Issued in December 1997
NBER Program(s):   IFM   DAE

This paper is concerned with integration in the world capital market between the" economies of the core and periphery in the twentieth century. It proceeds with some general" observations and with a special focus on the case of Argentina. I will argue that understanding" the changing relations in international capital markets offers important insights into the growth" and development process, especially for the countries of the periphery. Moreover extent of market integration in history informs current conditions in the relationship between" capital-scarce economies, like Argentina, and the global capital market as a whole. Looking to" the future, the repercussions of economic reform and demographic change suggest likely" implications for future saving, investment, and international capital flows."

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Published: Journal of Development Economics, Vol. 57, no. 1 (October 1998): 147-184.

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