Read e-book online A Century of Foreign Investment in the Third World PDF
By Michael Twomey
The past due 20th century has witnessed a dramatic upsurge in overseas direct funding within the 3rd international. established upon thorough statistical research, the ebook provides exhaustive case-studies of international funding coverage in 'metropolitan' international locations and of the reviews of 'host' nations all through Africa, Asia and Latin the USA. With a large geographical and historic concentration, it additionally makes a major contribution to present debates on dependency conception.
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Additional info for A Century of Foreign Investment in the Third World
Just as the “American model” of FDI had misled observers into erroneously considering FSCs as portfolio investment, so can we also note other limitations inherent in a conceptualization primarily created from that perspective formed at mid-century. The “Anglo-Saxon” viewpoint inherently assumes separate roles for the private sector and the state. However, particularly in colonial times, the state was a major player in both financing and operating enterprises. As these were nominally owned and operated by people from the mother country, these enterprises might well be considered foreign direct investments.
Although there have been some important cases of third world private enterprises entering into the global bond markets, the order of magnitude of this phenomenon is small. 5 provides for the entire Third World an end-of-century average ratio of total foreign investment to GDP of 50 per cent, while the ratio of FDI/GDP was 15 per cent. This should be kept in mind when looking at the individual country experiences.
In cases characterized by such preferential treatment, or at least the impression that it occurred, we might further hypothesize a strong reaction against foreign investment when independence was achieved. Hopkins. One fundamental issue is the link between foreign investment and colonialism. Many commentators have asserted that colonial expansion was motivated by a need for investment opportunities. Hobson, the latter a distinctly non-Marxist British economist whose works influenced the Russian revolutionary.
A Century of Foreign Investment in the Third World by Michael Twomey