Canada's Balance of International Indebtedness 1900-1913

"Canada's Balance of International Indebtedness 1900-1913" is a seminal study in economic history and international finance, authored by the renowned economist Jacob Viner. This comprehensive work examines the significant influx of foreign capital into Canada during a period of unprecedented economic expansion and structural change. Viner meticulously analyzes the statistical data of the era to explore how Canada managed its balance of payments and the subsequent impact on domestic prices and trade.

The book serves as a foundational text for understanding the mechanism of adjustment in international trade, particularly under the gold standard system. By investigating the relationship between capital imports, price levels, and the volume of exports and imports, Viner provides a rigorous empirical test of classical economic theories. His findings offer profound insights into the dynamics of international debt and the economic development of a young nation integrated into the global financial market.

Essential for scholars of economics and Canadian history, this work remains a classic example of inductive research. It provides a detailed account of the financial forces that shaped Canada's growth in the early twentieth century, making it an invaluable resource for anyone interested in the history of international capital movements and macroeconomic theory.

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