Rethinking Foreign Investment for Sustainable Development: Lessons for Latin America

Front Cover
Kevin Gallagher, Daniel Chudnovsky
Anthem Press, 2009 - Business & Economics - 291 pages
0 Reviews

After almost twenty-five years of experimenting with the neo-liberal economic reforms collectively known as 'Washington Consensus' policies, Latin Americans are starting to re-assess the merits of these policies - at the voting booth. Many newly elected governments are beginning to scrutinize the role of foreign direct investment (FDI) in particular, and some nations have gone so far as to nationalize foreign firms. Without endorsing or condoning the actions taken by these governments, this volume demonstrates that it is quite rational for governments in the region to re-evaluate the role of FDI for their development paths.

The great promise of FDI by multinational corporations is that capital will flow into your country and be a source of dynamic growth. Beyond boosting income and employment, the hope was that manufacturing FDI would bring knowledge spillovers that would build the skill and technological capacities of local firms, catalyzing broad-based economic growth; and environmental spillovers that would mitigate the domestic ecological impacts of industrial transformation.

Consisting of country case studies and comparative analyses from Latin American and U.S.-based political economists, this volume finds that when FDI did materialize if often fell far short of generating the necessary linkages required to make FDI work for sustainable economic development.

 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

1 Foreign Direct Investment Net Inflows
5
FDI Flows 199042004
6
3 Possible Costs and Benefits of F DI in Latin America
15
Political Economy of Natural Resources
17
Is Foreign Investment Always Good for Development?
21
1 F DI Inflows as a Percentage of Gross
22
MN Cs and Economic
33
1 Brazil 4 Inward Foreign Direct Investment 4
35
2 National Expenditures 4 Zona Franca
116
Preliminary
127
1 Chronology of the Pulp Mills Dispute
135
1 Stockholm Convention on Persistent Organic
140
Saviors or Invaders?
147
1 Chilean Pulp Exports by Company 4 2005
150
1 Production Evolution Main Forestry Activities
151
3 FDI in the Forestry Sector and Total FDI
156

2 Brazil 4 FDI Stocks and Flows by Industry
37
3 Propensity to Export and Import of MN C
42
5 MajorityOwned Foreign Affiliates of US Parent
45
The Polarization
51
FDIGDP and Gross Formation
57
1 FDI in Mexico 199442006
58
2 FDI by Economic Classes
64
4 Executed F DI in Manufacturing by Employee
67
4 Typology Based on Most Important Manufacturing
70
Enrique Dussel Peters
77
1 FDI Flows and Profits in Argentina 199242006
84
1 F DI Inflows to Argentina by Origin
85
2 FDI Inflows to Argentina by Sector 199242004
86
Daniel Chuanooshy ana Anares Lopez
97
1 Basic Economic Data for Costa Rica 197042004
101
4 ValueAdded and Exports in the Zona Franca
108
Zona Franca
109
7 National Expenditure by Companies
115
4 Contribution of FDI in Forestry
158
6 Share of 1VIain Companies in Pulp and Paper 2004
160
4 Adoption of Environmental Standards in
167
The Political Economy of Natural
179
1 Selected Countries Main Statistics 2005
181
Natural Gas Reserves 199642003
184
3 Hydrocarbons Reserves in Latin America
188
6 ICSID Pending Cases
195
The Environmental Effects of
201
1 F DI to the Brazilian PulpandPaper Industry
204
Sample Geographical
207
4 Environmental Management System in
212
FDI Spillovers and Sustainable
217
1 Guadalajara Electronics Exports and FDI
228
Notes
241
References
253
Index
267
Copyright

Other editions - View all

Common terms and phrases

About the author (2009)

Kevin P. Gallagher is Assistant Professor of International Relations at Boston University and research associate at the Global Development and Environment Institute, Tufts University. He is the author of ‘The Enclave Economy: Foreign Investment and Sustainable Development in Mexico’s Silicon Valley’(with Lyuba Zarsky), and ‘Free Trade and the Environment: Mexico, NAFTA, and Beyond’.   Daniel Chudnovsky (1944-2007) was Director of the Centro de Investigaciones para la Transformación (CENIT) and Professor at the Universidad de San Andrés. He authored ‘The Elusive Quest for Growth in Argentin’ (with Andres Lopez). [NP] José Antonio Ocampo is Professor of Professional Practice in International and Public Affairs and Director of the Program in Economic and Political Development at the School of International and Public Affairs, Columbia University.

 

Bibliographic information