Suchergebnisse

This research examines the impact of flows and stocks of foreign investment on growth in Third World countries. Overall growth in GDP per capita and in agriculture, manufacturing, transportation and com munications, and domestic trade are investigated. In addition to foreign investment, variables relating to domestic investment, population, and wealth are included in the analysis. The results indicate that stocks of foreign investment have a negative long-term effect on overall growth, while flows have a short-run positive effect. The variable with the single greatest impact on overall growth, however, is growth in domestic investment. The sectoral results indicate that foreign investment is positively related to growth in all sectors. The pattern of the findings, however, suggests that foreign investment has an initial disruptive effect on the economies of non-American underdeveloped states.

Competing hypotheses arising from the classical and neoclassical economic, neo-Marxist, and modernisation literatures are tested by using a cross-sectional design. Provides support for Frieden's (1981) contention than international banking capital (rather than direct transnational investment) has been relied upon by proactive states in their effort to diversify their exports by developing more advanced production processes. (Abstract amended)

Assesses industrialization efforts and prospects for continuing industrial diversification.

'Governance Through Development' locates the Poverty Reduction Strategy Paper framework within the broader context of international law and global governance; exploring its impact on third world state engagement with the global political economy and the international regulatory norms and institutions which support it.

This manuscript departs strongly from conventional accounts that ascribe a central role to war and the threat of war in Third World state building. Similarly, it challenges the conventional wisdom that abundant exportable natural resource wealth is likely to provoke institutional atrophy. Instead, it argues that a set of logically prior conditions—the social relations that govern the principal economic sectors and the pattern or intraelite conflict or compromise—launch path-dependent processes that help determine when, and if, either strategic conflict or resource wealth contribute to, or impede, institutional development. The argument is tested in the comparative analysis of the state-building process in two Andean neighbors (Chile and Peru), both of which are situated in similar strategic and natural resource environments but which produced qualitatively different outcomes in terms of state capacity or "strength."