Golden Age (1 gen 1896 anni – 1 gen 1914 anni)

Descrizione:

--> International Market grew (int. lending & investments)
--> output & income rose in every nation
--> economic stability thanks to gold standard
--> trade boost thanks to g. standard (30%-70% more trade)
--> rush of railroad building in underdeveloped regions
--> new inventions (refrigerator) that helped
exports/imports
--> financing of USA & Australia by foreign investors
--> increasing specialization (Comparative Advantage)

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