Business Enterprises and Entrepreneurship
Edited by Geoffrey Jones and Andrea Lluch
Chapter 4: Multinational enterprises in Argentina: from primary commodity exporter to the new liberal era
Foreign investment has been a crucial factor in the business and economic history of Argentina since the nineteenth century. Between 1880 and 1930, when economic growth was driven by agricultural exports, large foreign capital flows arrived in the country in pursuit of business opportunities in infrastructure (especially railroads), primary export processing (especially meat packing), and products and services associated with domestic market expansion (such as food, beverages, textiles, chemicals and cement). Later, during Argentina’s import substitution industrialization (ISI) period from the late 1950s to the mid-1970s, MNEs played a key role as the country engaged in capital-intensive manufacturing development. Later, during the pro-market reforms of the 1990s, FDI again flowed in massively, shaping the new economic model that unfolded in that period. There were times when foreign capital was viewed as a potentially negative factor for Argentina’s development. Criticisms included their excessive influence in the domestic economy, which allegedly allowed monopolistic practices and blocked domestic technological development. Hence, at various moments governments nationalized foreign-owned companies and/or clashed with foreign investors. In addition, frequent crises and economic and political instability sometimes turned Argentina into an unattractive host economy.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.