The political economy of foreign investment in Latin America: dependency revisited

Higginbottom, Andrew (2013) The political economy of foreign investment in Latin America: dependency revisited. Latin American Perspectives, 40(3), pp. 184-206. ISSN (print) 0094-582X

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Abstract

Examination of foreign investment inflows, stock, and outgoing profit flows from Latin America in the neoliberal period shows that the basic tenet of the dependency thesis still holds: there is a huge and underreported transfer of surplus value out of the continent. European capital has overtaken U.S. capital as a source of investment, and within the Andean region there are two distinct groups of countries with regard to investment regime: the Andean nations of the Alianza Bolivariana para los Pueblos de Nuestra América (Bolivia, Ecuador, and Venezuela), which have succeeded in increasing the proportion of surplus profits retained in their national economies against that part captured by international capital, and their non-ALBA neighbors. A new dialectic of domination and dependency is at work, with the focus on contesting bilateral free-trade agreements and investment treaties.

Item Type: Article
Research Area: Development studies
Economics and econometrics
Politics and international studies
Faculty, School or Research Centre: Faculty of Arts and Social Sciences (until 2017) > School of Economics, History and Politics (from November 2012)
Depositing User: Andrew Higginbottom
Date Deposited: 26 Mar 2013 11:12
Last Modified: 30 Aug 2014 11:43
DOI: https://doi.org/10.1177/0094582X13479304
URI: http://eprints.kingston.ac.uk/id/eprint/25027

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