Part 1 Essentials of international capital movements: the nature of international capital movements - the capital concept, the balance of trade, the balance of payments and the balance of indebtedness, international transfers of capital, the interdependence of international economic transactions, direct linking of capital export and commodity export; the causes of international capital movements - introductory remarks, the obstacles to international capital movements, changes in the costs of capital transfer, changes in the international differences in interest rates, other factor influencing international capital movements; the effects of international capital movements - introductory remarks, effects on prices and incomes, effects on the structure of production, the interrelation of different factor movements, effects on volume of foreign trade, reactions of domestic factor supply, effects on outside countries, government control of international capital movements. Part 2 Mechanism of international capital movements: theories - two alternative explanations, the forerunners, later refinements, the reparation discussion, the mechanism under a paper standard; facts - introductory remarks, creditor countries, debtor countries, paper-standard countries; conclusions - introductory remarks, the transfer process, the media of international payment.
