Abstract
The elimination of most restrictions on foreign direct investments (FDIs)2 by the Spanish government between 1977 and 19923 generated a process of outward capital flows that made Spain the seventh largest economy in the world by outward stock of FDI in 2007, only behind the United States, the United Kingdom, France, Germany, Hong Kong, and The Netherlands (see Table 1.1). These investments were very highly concentrated in two geographic areas, mainly the European Union (EU) and Latin America (see Figure 1.1). In Latin America, Spanish FDI flows even surpassed those coming from the United States in 1999 and 2000.4
Latin America is our natural market to expand.1
Camino Alvarez, Corporate Development Manager, Telefóonica
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Notes
Camino Álvarez, Corporate Development Manager (gerente de desarrollo corporativo), Telefónica. Interview, Madrid, 31 July 2001.
Gabriel Tortella, The Development of Modern Spain. An Economic History of the Nineteenth and Twentieth Centuries, Cambridge, MA: Harvard University Press, 2000, 352.
UNCTAD, World Investment Report 2008, 220–221, 226.
Sebastian Edwards, Crisis and Reform in Latin America. From Despair to Hope. Oxford: Oxford University Press, 1995.
Mosiés Naím, “Does Latin America Need Competition Policy to Compete?” In Competition Policy, Deregulation, and Modernization in Latin America, ed. Moisés Naím and Joseph S. Tulchin, Boulder, CO: Lynne Rienner, 1999, 22–23
See Michael W. Doyle, Empires, New York: Cornell University Press, 1986; Paul Kennedy, The Rise and Fall of the Great Powers. Economic Change and Military Conflict from 1500 to 2000, New York: Random House, 1987; and Giovanni Arrighi, The Long Twentieth Century, London: Verso, 104.
Paul Kennedy, The Rise and Fall of the Great Powers. Economic Change and Military Conflict from 1500 to 2000, New York: Random House, 1987.
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© 2011 Pablo Toral
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Toral, P. (2011). Introduction. In: Multinational Enterprises in Latin America since the 1990s. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230119321_1
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DOI: https://doi.org/10.1057/9780230119321_1
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