International Capital Movements

by Charles P. Kindleberger

First published in 1988, this study of international capital movements looks at their historical role in the financing of trade and their dramatically increased role in the world economy in recent years. It examines the current economic theory and the policy implications of these changes. Beginning with an analysis of the balance of payments, the authors goes on to discuss international short-term and long-term capital movements, both historically and with reference to current events. A further chapter deals with financial deregulation and the progression during the last few years towards the integration of international capital markets. The author looks forward to two possible futures for international a gradual federalisation of macro-economic behaviour on a world basis, or a move towards self-reliance and autarky. The book is based on the author's Marshall Lectures, given in the University of Cambridge. It will be of interest to those studying international and financial economies, graduate students and those involved in the formulation of policy.

Genres: Finance

108 pages, Hardcover

First published January 1, 1987

About the author

Economic historian. More at Wikipedia

Reviews

[Sam · Rating 3 out of 5]

A complicated book, certain parts of Kindleberger's analysis were very interesting. Perhaps I should read Perry Mehrling's book on him. Some of these aspects were Kindleberger's analysis of balance of payments and how it can sometimes obscure analysis (e.g. when imports are used to boost inventories and are NOT consumed), Kindleberger's analysis on deregulation (especially his analysis of the free bankers in Chapter 4 and in the end of Chapter 3). There were also some funny bits, like Kindleberger shitting on Machlup, the fact that American investors didn't want to invest in Germany during an Austrian crash because they confused the countries, and the insane fact that Germany and Italy during Fascism made illegal capital movements punishable by death. Overall, an informative book, though I wish Kindleberger did more deeper analysis, especially on the history, maybe that's the point of his Financial History of Western Europe book