Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If you need an accessible version of this item please contact JSTOR User Support

Third World Indebted Industrialization: International Finance and State Capitalism in Mexico, Brazil, Algeria, and South Korea

Jeff Frieden
International Organization
Vol. 35, No. 3 (Summer, 1981), pp. 407-431
Stable URL: http://www.jstor.org/stable/2706430
Page Count: 25
  • Read Online (Free)
  • Subscribe ($19.50)
  • Cite this Item
If you need an accessible version of this item please contact JSTOR User Support
Third World Indebted Industrialization: International Finance and State Capitalism in Mexico, Brazil, Algeria, and South Korea
Preview not available

Abstract

The past fifteen years have seen two important developments in the international economic system: the rapid industrialization of many less developed countries (LDCs) and their increasing indebtedness to private financial institutions. Massive bank loans have been used to fund industrial growth in many LDCs; international financial markets have replaced multinational corporations as the Third World's most important source of private foreign capital. In four major borrowing countries--Mexico, Brazil, Algeria, and South Korea--the process of indebted industrialization has its roots in the internationalization of finance, the increasing role of the state, and the use of funds raised on the international capital markets to finance industrial development. The results include rapid expansions of LDC industrial production and LDC exports of manufactured products, as well as the formation of an implicit partnership between private financial institutions and state-capitalist elites in the Third World.

Page Thumbnails

  • Thumbnail: Page 
407
    407
  • Thumbnail: Page 
408
    408
  • Thumbnail: Page 
409
    409
  • Thumbnail: Page 
410
    410
  • Thumbnail: Page 
411
    411
  • Thumbnail: Page 
412
    412
  • Thumbnail: Page 
413
    413
  • Thumbnail: Page 
414
    414
  • Thumbnail: Page 
415
    415
  • Thumbnail: Page 
416
    416
  • Thumbnail: Page 
417
    417
  • Thumbnail: Page 
418
    418
  • Thumbnail: Page 
419
    419
  • Thumbnail: Page 
420
    420
  • Thumbnail: Page 
421
    421
  • Thumbnail: Page 
422
    422
  • Thumbnail: Page 
423
    423
  • Thumbnail: Page 
424
    424
  • Thumbnail: Page 
425
    425
  • Thumbnail: Page 
426
    426
  • Thumbnail: Page 
427
    427
  • Thumbnail: Page 
428
    428
  • Thumbnail: Page 
429
    429
  • Thumbnail: Page 
430
    430
  • Thumbnail: Page 
431
    431