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- Title
Investing in a Wealthy Resource-Based Colonial Economy: International Business in Australia before World War I.
- Authors
Ville, Simon; Merrett, David Tolmie
- Abstract
The article is a rare investigation into multinational activity in a wealthy resource-based colonial economy toward the end of the first wave of globalization. It challenges the conventional wisdom that multinationals had a limited presence in pre-1914 Australia, where government loans and portfolio investment from Britain into infrastructural and primary industries dominated. Our new database of nearly five hundred foreign firms, from various nations and spread across the host economy, shows a thriving and diverse international business community whose agency mattered for economic development in Australia. Colonial ties, natural resources, stable institutions, and high incomes all attracted foreign firms.
- Subjects
GLOBALIZATION; GOVERNMENT lending; INVESTMENTS; INTERNATIONAL business enterprises; INDUSTRIAL districts
- Publication
Business History Review, 2020, Vol 94, Issue 2, p321
- ISSN
0007-6805
- Publication type
Article
- DOI
10.1017/S0007680520000264