Article(print)1985

Investment Dependence, Economic Growth, and Status in the World System: A Test of "Dependent Development"

In: Studies in comparative international development, Volume 20, Issue 1, p. 98-120

Yang, Jonghoe; Stone, Russell A.

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Abstract

A test of the idea of "dependent development,"or "semiperipheral development by invitation," according to which investment dependence can be beneficial for economic growth in some better-off or semiperipheral countries. Based on criteria indicated by Immanuel Wallerstein, Richard Robinson, & Christopher Chase-Dunn, a pool of dependent countries is divided into two groups -- the semiperiphery & the periphery. A cross-lagged panel regression analysis of cross-national data shows that, after controlling for raw material exports, investment dependence is negatively associated with economic growth in peripheral countries, but positive in semiperipheral countries, thus supporting the hypothesis. 7 Tables, 2 Appendixes, 34 References. Modified AA

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