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Title
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Returns on investments during the colonial era: the case of the Belgian Congo
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Author
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Abstract
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| Before the First World War, Belgium participated in a global wave of foreign direct investment. After the war, a shift towards the Belgian colony of the Congo was observed. With regard to these investments, it is commonly argued that higher (expected) profit rates were a strong incentive, although others propose that the colonial powers lost money on their colonial possessions. We measure ex post performance in terms of the time-weighted rate of return by making use of a new database of Congolese stocks and compare the Congolese data with a Belgian sample. Returns on Congolese stocks were much higher, at least until country risk became a reality. |
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Language
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English
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Source (journal)
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The economic history review. - London
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Publication
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London
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2009
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ISSN
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0013-0117
[print]
1468-0289
[online]
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Volume/pages
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62
:S:1
(2009)
, p. 135-166
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ISI
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000267831100007
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Full text (Publisher's DOI)
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Full text (publisher's version - intranet only)
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