  This paper considers general features of the derivative expansion of Feynman
diagram contributions to the four-graviton scattering amplitude in
eleven-dimensional supergravity compactified on a two-torus. These are
translated into statements about interactions of the form D^2k R^4 in type II
superstring theories, assuming the standard M-theory/string theory duality
relationships, which provide powerful constraints on the effective
interactions. In the ten-dimensional IIA limit we find that there can be no
perturbative contributions beyond k string loops (for k>0). Furthermore, the
genus h=k contributions are determined exactly by the one-loop
eleven-dimensional supergravity amplitude for all values of k. A plausible
interpretation of these observations is that the sum of h-loop Feynman diagrams
of maximally extended supergravity is less divergent than might be expected and
could be ultraviolet finite in dimensions d < 4 + 6/h -- the same bound as for
N=4 Yang--Mills.
