Book section
Funding the Great War and the beginning of the end for British hegemony
- Abstract:
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Item description: Chapter 2 in Book 'Debt and Entanglements Between the Wars' (2019), ed. E Dabla-Norris
Britain was the richest country in the world at the outbreak of the Great War, benefitting from all the resources of an industrialised country and a large empire. Funding the war contributed to the beginning of the end for British hegemony. Financiers in London extracted a high price for lending their money to the government to pay for the supplies and munitions needed to win the war. The US extracted a similarly high price for lending to Britain during the war. Russia never paid its war debts to Britain; France, Italy and Belgium got off lightly; but for a long time the US insisted on Britain repaying in full.
- Publication status:
- Published
- Peer review status:
- Peer reviewed
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- Files:
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(Preview, Version of record, pdf, 1.9MB, Terms of use)
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- Publisher copy:
- 10.5089/9781513511795.071
Authors
- Publisher:
- International Monetary Fund
- Host title:
- Debt and Entanglements Between the Wars
- Pages:
- 59-80
- Place of publication:
- Washington, DC
- Publication date:
- 2019-11-08
- Event title:
- Debt and Entanglements Between the Wars
- DOI:
- EISBN:
- 978-1-51351-686-8
- ISBN:
- 978-1-51351-676-9
- Language:
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English
- Keywords:
- Pubs id:
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1053655
- Local pid:
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pubs:1053655
- Deposit date:
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2020-08-10
- ARK identifier:
Terms of use
- Copyright holder:
- International Monetary Fund
- Copyright date:
- 2019
- Rights statement:
- © 2019 International Monetary Fund
- Notes:
- The final published version of the book chapter 'Funding the Great War and the Beginning of the End for British Hegemony' is also freely available from the International Monetary Fund at https://www.imf.org/en/Publications/Books/Issues/2019/11/08/Debt-and-Entanglements-Between-the-Wars-48602
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