Dependency, Disarticulation, and Denominator Effects: Another Look at Foreign Capital Penetration

Autor:	Terry Boswell, William J. Dixon
Rok vydání:	1996
Předmět:	Physical capital Sociology and Political Science Capital deepening Economic capital Economics Capital employed Capital intensity Capital Consumption Allowance Monetary economics Economic system Fixed capital Capital formation
Zdroj:	American Journal of Sociology. 102:543-562
ISSN:	1537-5390 0002-9602
DOI:	10.1086/230956
Popis:	Less developed countries desparately need capital to develop, but countries dependent on foreign capital face slower economic growth, higher income inequality, and possibly impaired domestic capital formation. These conclusions emerge from a reassessment of Glenn Firebaugh's broad critique of capital dependency research, which exposed an important error in earlier studies. The solution charts new theoreticall ground by factoring dependency effects into the differential productivity of foreign and domestic investment and the negative externalities from foreign capital penetration. The revised formulation is applied to cross-national analyses of economic growth, decapitalization, and income inequality. The findings consistently support capital dependency theory.
Databáze:	OpenAIRE
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