The Influences Affecting French Assets Abroad Prior to 1914
研究显示19世纪末至一战前法国对外投资主要受经济和金融因素驱动，而非此前认为的外交政治因素，通过微观与计量经济模型证明资金地理分布符合理性经济行为。
In this study we show that French foreign investment from the end of the nineteenth century until the eve of the First World War was driven by economic and financial considerations. This refutes the hitherto accepted thesis that French capital exports were motivated by diplomatic and political factors. By using economic modeling that combines microeconomic and econometric approaches, we show that the geographic distribution of French financial flows was consistent with rational economic behavior.