Argentina and the world capital market: saving, investment, and international capital mobility in the twentieth century
研究二十世纪阿根廷等外围经济体与世界资本市场的融合程度，分析储蓄、投资和国际资本流动的变化，为理解外围国家的增长与发展提供历史视角。
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, study of the 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.