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m The theories gained traction with populist Governments due to portraying poor
conditions as the result of external factors. Culturally, the idea was given traction
by ?
who contended that the US had material gains but had d
they were ͚ ͛.
m 6conomically, the ͚Big Push͛ of the early ISI period (50͛s/60͛s) had d
d
dd [ there had only been moderate growth.
m The
d
noted that ISI had resulted
in
m Although Dependency Theory was a ͚ d ͛ (Kay, 1989) due to the d
d, theories tended to consider four channels through which
dependency was propagated
II. TNCs
r ¦ d (reducing ability to import foreign capital),
acted as a d .
m An example is ?.
r Baran argued that the key to growth was the proper use of ͚6conomic Surplus͛
d d
d
r TNCs and foreign powers used the four channels noted prior to extract that
surplus, preventing it from being used to aid development.
r The roots of this surplus exploitation went back to the
[ extractive institutions aimed at benefiting the mainland
and a few elite.
r In turn, the new elite (TNCs)aimed to harvest and repatriate the economic
surplus for themselves, and prevent economic development due to
d d d
r It had a ͞Dependent countries lack the capacity for
economic growth and they lack this because their structures are
dependent ones.͟
r It is
, such that there are little useful policy proposals
outside of autarky.
r
[ with little coherency between
different theories of dependency, there was no comprehensive,
alternative, strategy for growth.
r A
d [ diversify exports and prop up domestic
savings.