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Dependency, the Credit Market, and Argentine Industrialization, 1860–1940

Published online by Cambridge University Press:  11 June 2012

Donna J. Guy
Donna J. Guy
Affiliation:
Associate professor of history at the University of Arizona.
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Abstract

The factors responsible for Latin American economic “dependency” have long been debated by economic historians. In this article, Professor Guy considers the example of Argentine industrialization between 1870 and 1940. Argentine reliance upon foreign capital, she concludes, was due much more to local Argentine institutions — the commercial law, the stock market, and the government inspection bureau — than to any pressures from abroad. She adds that, though dependency theory has its limits, by focusing attention on local institutions, it remains a valuable tool for understanding Third World development.

Type
Articles
Information
Business History Review , Volume 58 , Issue 4 , Winter 1984 , pp. 532 - 561
Copyright
Copyright © The President and Fellows of Harvard College 1984

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References

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34 For examples of how the Tornquist group lent money directly, see 18 Pagarés from Francisco Bustamante (sugar industrialist) to Ernesto Tornquist & Co. equaling $180,000 paper pesos, May-June 1902, Miscelánea 715, Biblioteca Tornquist; Refinería Argentina (Tornquist enterprise), Libro de Actas, Acta no. 112, 9 March 1901, 220, grants mortgages on Germania Sugar Factory; ibid.,13 Dec. 1913, Acta no. 378, Contrato de prenda. Ingenio San Miguel.

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45 Escritura 349, 3 Dec. 1893, pp. 877–80, Registro 3. Protocolos, 1893, Escribano Felix M. Rodríguez, Archivo Histórico de Córdoba. Sometime between 1888 and 1893, Orfilas share had been eliminated from the partnership.

46 Donato Carried, “La fábrica de calzado Grimoldí. Su origen y trayectoría desde el año 1895 hasta el ańo de 1952,” c. 1968, unpub. ms., 10–12. The Grimoldis maintained their partnership with Grisetti until 1901, when the three brothers formed their own simple partnership. “Testimonio del contrato de la sociedad Grimoldi Hermanos,” 7 May 1901, photocopy in possession of the Grimoldi family.

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