INTD 200 Lecture Notes - Lecture 8: Finance Capitalism, Social Forces, Four Asian Tigers

• School: McGill University
• Department: International Development
• Course: INTD 200
• Professor: Darin Barney

Document Summary

Theory: problems of dependency: 1970s: dependency theory failure for developing countries: weren"t exporting or competing in global markets: inefficiencies in protect industrialization in latin. America/africa: 1970s: failed industrialization in terms of isi, result of this: economies in these regions go to imf/world bank asking for loans to help prop up failing economies, this allowed imf/wb to prescribe development solutions driven by neoliberalism. Washington consensus: these conditions pursue the neoliberal agenda, this is how neoliberalism penetrated developing economies, condition of debt of economic hardship lead economies to go to big institutions for support. Africa from 7% of world trade in 1970s to less than 0. 5% in the 1990s: fail of neoliberalism to stimulate economic growth has lead analysts to call 1990s as, staggering decline. Imf/wb: received billions in aid/support, much aid was funnelled to his kronies/family and to other clients of marcos dictatorship.