By Michael Twomey
The past due 20th century has witnessed a dramatic upsurge in international direct funding within the 3rd international. dependent upon thorough statistical research, the publication provides exhaustive case-studies of international funding coverage in 'metropolitan' nations and of the studies of 'host' international locations all through Africa, Asia and Latin the USA. With a large geographical and old concentration, it additionally makes a tremendous contribution to present debates on dependency thought.
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Extra resources for A Century of Foreign Investment in the Third World
More questions will arise from the investigation of railroads in Chapter 7, which suggests that this sector reached its highest relative importance in the nineteenth century. In other countries, the K/O fell after the rest of the economy started to grow relative to the railroads. 12 One initially hypothesized pattern was that agrarian societies with a small amount of industrial capital but perhaps a healthy agricultural export sector might have during the first years of foreign investment, a modest level of FDI/K, a low K/O, and a correspondingly high FDI/K.
In other words, FDI is concentrated among the developed industrial countries, not only as sources, but also as recipients. 5. Indeed, the higher income third world areas receive a disproportionate amount of FDI—over half is in Latin America. To analyse trends, we will use GDP as a scalar. The Table again indicates upward trends in FDI into the Third World, relative to income in either sending or receiving countries, for the last decades of the twentieth century. Thus, the stock of FDI in third world countries represented about 2 per cent of the GDP of the source (developed) countries in 1990, and almost 9 per cent of the GDP of the host (developing) countries—the difference is attributable to the higher aggregate income of the industrial countries.
Independence movements were given an unexpected boost by the experience of the First World War. France was clearly unable to control Indo-China. People from the colonies were mobilized to man the armies of both sides. The need to encourage growth in colonial areas became more evident. The Japanese government’s position about the role of its colonies also evolved from envisioning them as providers of raw materials to sources of manufactured goods. 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.
A Century of Foreign Investment in the Third World by Michael Twomey