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Remittances, capital flows and financial development during the mass migration period, 1870-1913.

Abstract:

This article addresses the question whether the substantial financial flows received by emigration countries contributed to domestic financial development in peripheral Europe before 1914. We quantify a sizable and significant relation between remittances and measures of financial development that is both larger than the contribution of other international capital flows and the best estimates of the same relation today. Given that financial development is regularly included among the conditio...

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Files:
Publisher copy:
10.1017/S1361491611000037
Publisher:
Cambridge University Press
Journal:
European Review of Economic History
Pages:
1 - 32
Publication date:
2011-01-01
DOI:
ISSN:
1361-4916
Language:
English
UUID:
uuid:c5021c79-3cbe-49cf-8104-292452f221b1
Local pid:
oai:economics.ouls.ox.ac.uk:15083
Deposit date:
2011-08-16

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