The Economics of World War I. 2

I have written before about The Economics of World War I project at VoxEU.org. There is now an additional article in the series:

International Organisation and World War I
Patricia Clavin, 3 August 2014
Today’s international institutions have roots in the tenuous interwar peace. This column details the importance of Austria as a prototype for international aid and development. In the case of Austria, the interwar powers realized the inefficacy of a punitive peace, and instituted a system by which private credit markets would assist development in a mutually beneficial relationship. The Austrian ‘success story’ is key to understanding today’s international relations.