German Capital-Export before the First World War-Special Focus on the Mutual Investment between the Advanced Countries.
Project/Area Number |
09630082
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Research Category |
Grant-in-Aid for Scientific Research (C)
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Allocation Type | Single-year Grants |
Section | 一般 |
Research Field |
Economic history
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Research Institution | Hachinohe Institute of Technology |
Principal Investigator |
OHTSU Masamichi Hachinohe Institute of Technology, Faculty of Technology, Associate Professor, 工学部, 助教授 (60146024)
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Project Period (FY) |
1997 – 1998
|
Project Status |
Completed (Fiscal Year 1998)
|
Budget Amount *help |
¥1,300,000 (Direct Cost: ¥1,300,000)
Fiscal Year 1998: ¥500,000 (Direct Cost: ¥500,000)
Fiscal Year 1997: ¥800,000 (Direct Cost: ¥800,000)
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Keywords | Capital Export / Multinational Corporations / Enemy Property / Portfolio Investment / Financial Market |
Research Abstract |
The aim of this research is to clarify the characteristics of German capital export before the First World War with special focus on the mutual investment between Germany and other advanced countries, especially Great Britain. The activity of German capital in Britain, is summarized in next three points : 1.The portfolio investment of Germany especially toward Britain, U.S.and other West European industrialized countries was almost gained not in German domestic stock exchanges but in London market, and these papers were hold there continuously. Therefore London was a gathering point of German portfolio investment abroad. 2.On the eve of the World War, German capital in Britain was active in many spheres, participation of shares in British companies, establishment of German-origin firms in London and Manchester (Siemens Brothers & Co., Hoechst), short term investment in London money market by London branch offices of German banks, etc. German economic invasion of Britain was more strengthened by the pouring import of manufactured products from Germany on the same period. 3.The London branches of three German banks (Deutsche Bank, Disconto- Gesellschaft and Dresdner Bank) took an active part in long-term investment in business firms with the portfolio fund hold in these branches, as well as the traditional bank businesses as to the commodity trade financing. Our next aim is to clarify the concrete financial activities of these German capital in the mechanism of London money market. The sources of this search are (1) the evidences of bankers and persons concerned Stock Exchange (EDC files), (2) parliamentary reports on "Enemy banks (London agencies)".
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Report
(3 results)
Research Products
(2 results)