Showing papers on "Divestment published in 1977"
TL;DR: In this paper, the adoption of Decision 24 in terms of the logical need to regulate direct foreign investment and technology transfer within regional integrative systems so as to create conditions necessary for the accomplishment of other integrative goals, and the needs of an emergent national bourgeoisie within certain of the Andean countries, is explained.
Abstract: After explaining the adoption of Decision 24 in terms of (a) the logical need to regulate direct foreign investment and technology transfer within regional integrative systems so as to create conditions necessary for the accomplishment of other integrative goals, and (b) the needs of an emergent national bourgeoisie within certain of the Andean countries. the paper demonstrates the extent to which the absence of social forces supportive of re gulation in all of the member countries led to attempts to modify Decision 24 and to divergencies in its implementation by national authorities. By checking the extent to which Decision 24 was applied at the national level the author is then able to examine the impact of Decision 24 on the rate of divestment, on the degree to which direct foreign investment and technology contracts were being subjected to review and renegotiation, and on the inflow of direct foreign investment into the region. In addition the paper presents the results of a survey of the attitudes of...
11 citations
TL;DR: In recent years, the governments of an increasing number of developing countries have moved to secure ownership and control over their key resource industries through nationalization of foreign corporations as mentioned in this paper, which has been especially significant in petroleum-exporting countries and copper-and bauxite-producing nations.
Abstract: In recent years the governments of an increasing number of developing countries have moved to secure ownership and control over their key resource industries through nationalization of foreign corporations. The change in ownership and control has been especially significant in petroleum-exporting countries and copperand bauxite-producing nations.' In each instance, the act of nationalization or expropriation has been legitimized by the host government through its exercise of permanent sovereignty over the natural resources in its country.2 In 1974, the United Nations Group of Eminent Persons (GEP) which examined 'the impact of multinational corporations in the process of development' recommended 'that where ownership is an important objective for host countries, consideration should be given to the establishment of joint ventures as well as to the reduction over time of the share of foreign equity interests.' 3 The GEP argued that 'if the help of multinational corporations is needed in exploiting natural resources, it may be preferable to enter into leasing or other types of contractual arrangements with them
3 citations