Decisive Factor because is so expensive

less than 3% loaned

France, England, Germany Australia, USA, Canada, Argentina

More than 3% borrowed

Relations: Borrowers - lenders and saving possibilities

Population growth in Europe in 19th Century Population growth in Developing countries second half of 20th century rate of natural increase of population In countries with land Migration to cities depends of ration of urban total population Latin America natural population growth 3% + 50% in cities = towns grow at 6% per annum Industrial System System of interdependent parts that must grow with balance Employment in manufacturing and mining profitability

Development in 3rd world started last third of 19th century Europe Center of international finance

Foreign investment and imperialism do not coincide.

differences defined by rates of urbanization

Africa where is plenty land different in South Asia where is more necessary land and employment in agriculture Require policies to control mobility of population Also policies to avoid the "gregarious" of industry

Plantations, public utilities and mines were sectors of private foreign investment up to 1929 Traditional sectors of foreign investment as Plantations, public utilities and banking fade out Now foreign investment in agriculture and public utilities is almost cero because is understand as part of public sector Developing countries will depend on foreign borrowing long after they ceased to depend on foreign enterprise

Lewis, Arthur (1978)

Financial Dependence

Urbanization evitable if the industry spread around as Mao planned in China

The importance of direct private investment is exaggerated

Of developing countries is Not due to Poverty if not to their high rates of population growth and the high rates of urbanization

Financial Dependence.mmap - 03/01/2010 - Mindjet