THE RECONQUEST OF THE NEW WORLD
A mis padres, Carmina y Lus,
y a mis hermanas, Azucena y Yolanda
The Reconquest of the New World
Multinational enterprises and Spains direct investment in Latin America
PABLO TORAL
Florida International University
First published 2001 by Ashgate Publishing
Reissued 2018 by Routledge
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Copyright Pablo Toral 2001
All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.
Notice:
Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.
Publishers Note
The publisher has gone to great lengths to ensure the quality of this reprint but points out that some imperfections in the original copies may be apparent.
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The publisher has made every effort to trace copyright holders and welcomes correspondence from those they have been unable to contact.
A Library of Congress record exists under LC control number: 2001088795
ISBN 13: 978-1-138-72522-5 (hbk)
ISBN 13: 978-1-315-19200-0 (ebk)
Contents
Spanish Direct Investment in Latin America and the Caribbean:
A Historical Approach
Creating Alliances:
Frameworks for Theory
Structural Reform in Latin America and the Caribbean:
The New Role of FDI
Post-Franco Spain:
New Economic Development and Liberalization
This book would not have been possible without the help of Mira Wilkins, Eduardo Gamarra and Bruce Kelley, who read every line of my manuscript and made valuable recommendations. To them, my dearest appreciation and intellectual admiration. I thank David Callejo, Thomas Castillo, John Clasca and Paul Vicary for editing my final work. I am also indebted to the following people, who read parts or all of the manuscript and guided me through my research with their suggestions, comments and help: Arghyris Argyrhou, Mayra Beers, Ziulyn Chan, Noble David Cook, Alexander Easdale, Jerome Egger, Damin Fernndez, Csar Francis, Horacio Godoy, Saeed Hashemi, Jesse Hingson, Aart Holtslag, Manuel Moreno Fraginals, Diego Mndez, Rod Neumann, Nicholas Onuf, Roberto Pacheco, Teresita Pedraza, Nicols Snchez-Albornoz, Mark Szuchman, Joseph Ward, and Laura Zanotti.
I extend my gratitude to my friends and colleagues in the Departments of International Relations, Economics, and History, in the Latin American and Caribbean Center, and in the library of Florida International University in Miami, Universidad de Oviedo (Spain), Universidad Complutense de Madrid, the Spanish Ministries of Trade, Industry, and Infrastructure in Madrid, Universidad Catlica and Universidad San Carlos in Lima, and Centro Bartolom de las Casas in Cusco (Peru). All of them helped me do research and invited me to present my finished work. I am also thankful to Dolores Garca and Jos Montserrat for encouraging me all the time, to my family, for their permanent support, and to Ren Fernndez, who will not be able to read the book he encouraged me to write. This book is also dedicated to him.
AA | American Airlines |
ACP | Africa-Caribbean-Pacific |
AEC | Agreements of Economic Cooperation |
Aerolneas Argentinas | Argentinean Airlines |
AIRTEL | Spanish company providing cellular telephony |
ARGENTARIA | Spanish bank, partly owned by the state until 1998 |
AT&T | American Telegraph and Telephone |
AVANTEL | Mexican telephone company owned partly by Banamex and MCI |
BA | British Airways |
BANAMEX | National Bank of Mexico |
BANESTO | Banco Espaol de Crdito |
BARPPIs | Bilateral agreements for reciprocal promotion and protection of investments |
BBV | Banco Bilbao Vizcaya |
BCH | Banco Central Hispanoamericano |
BEX | Banco Exterior de Espaa (Spanish bank) |
BP | British Petroleum |
BS | Banco de Santander |
BSCH | Banco Santander Central Hispano |
BT | British Telecom |
CACM | Central American Common Market |
CANTV | Compaa Nacional de Telfonos de Venezuela |
CAP | Compana de Acero del Pacfico (Chilean steel company) |
CARICOM | Caribbean Free Trade Area |
CEPSA | Spanish oil producer and distributer |
CERJ | Companhia de Electricidade do Rio do Janeiro (Brazilian electricity company) |
CESCE | Compaa Espaola de Seguro de Crdito a la Exportacin (Spanish Insurance Company of Credit for Export) |
CHADE | Compana Hispanoamericana de Electricidad |
CODELCO | Colombian telephone company |
CODENSA | Compana Comercializadora y Distribuidora de Energa S.A. (Colombian electricity company) |
COELBA | Companhia de Electricidade do Estado da Bahia (Brazilian electricity company) |
COELCE | Companhia Energtica do Cear (Brazilian electricity company) |
COFIDES | Compaa Espafiola de Financiacin del Desarrollo (Spanish Company of Finance for Development) |
COFIVACASA | Investment company (Iberias partner in Aerolneas Argentinas) |
CONPES | Consejo Nacional de Polticas Econmicas y Sociales (Colombian National Council on Economic and Social Policies) |
CONTACTEL | Portuguese telecommunication operator |
COSERN | Companhia Energtica de Rio Grande do Norte (Brazilian electricity company) |
CPT | Compaia Peruana de Telfonos |
CRT | Companhia Riograndense de Telecomunicaes |
CTC | Compana Telefonica de Chile (Chilean Telephone Company) |
DBT | Deutsche Bundespost Telekom |
DGEITE | Direccin General de Economa Internacional y Transacciones Exteriores de Espaa (General Directorate for International Economy and External Transactions) |
DNP | Departamento Nacional de Planeacin (Colombian National Planning Department) |
DyC | Dragados y Construcciones (Spanish firm specialized in construction and public works) |
ECIP | European Community Investment Partners |
ECLAC | UN Economic Commission for Latin America and the Caribbean |
ECOPETROL | Empresa Colombiana de Petrleos (Colombian Petroleum Company) |
ECU | European Currency Unit |
EDELNOR | Empresa de Distribucin Elctrica de Lima Norte S.A. (Peruvian electricity company) |
EDF | European Development Fund |
EEP | Empresa Elctrica de Piura (Peruvian electricity company) |