Latin America's quest for globalization: the role of Spanish firms
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Aldershot [u.a.]
Ashgate
2005
|
| Schriftenreihe: | The international political economy of new regionalisms series
|
| Schlagworte: | |
| Online-Zugang: | Table of contents Inhaltsverzeichnis |
| Beschreibung: | Includes index. |
| Beschreibung: | XXV, 333 S. |
| ISBN: | 0754643425 9780754643425 |
Internformat
MARC
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| 020 | |a 0754643425 |c alk. paper |9 0-7546-4342-5 | ||
| 020 | |a 9780754643425 |9 978-0-7546-4342-5 | ||
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| 245 | 1 | 0 | |a Latin America's quest for globalization |b the role of Spanish firms |c ed. by Félix E. Martín and Pablo Toral |
| 264 | 1 | |a Aldershot [u.a.] |b Ashgate |c 2005 | |
| 300 | |a XXV, 333 S. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a The international political economy of new regionalisms series | |
| 500 | |a Includes index. | ||
| 648 | 7 | |a Geschichte 1960-2005 |2 gnd |9 rswk-swf | |
| 650 | 4 | |a Multinationales Unternehmen | |
| 650 | 4 | |a Investments, Spanish |z Latin America | |
| 650 | 4 | |a Corporations, Spanish |z Latin America | |
| 650 | 4 | |a International business enterprises |z Spain | |
| 650 | 4 | |a International business enterprises |z Latin America | |
| 650 | 0 | 7 | |a Globalisierung |0 (DE-588)4557997-0 |2 gnd |9 rswk-swf |
| 651 | 4 | |a Lateinamerika | |
| 651 | 4 | |a Spanien | |
| 651 | 7 | |a Lateinamerika |0 (DE-588)4074032-8 |2 gnd |9 rswk-swf | |
| 651 | 7 | |a Spanien |0 (DE-588)4055964-6 |2 gnd |9 rswk-swf | |
| 689 | 0 | 0 | |a Lateinamerika |0 (DE-588)4074032-8 |D g |
| 689 | 0 | 1 | |a Globalisierung |0 (DE-588)4557997-0 |D s |
| 689 | 0 | 2 | |a Spanien |0 (DE-588)4055964-6 |D g |
| 689 | 0 | 3 | |a Geschichte 1960-2005 |A z |
| 689 | 0 | |5 DE-604 | |
| 700 | 1 | |a Martín, Félix E. |e Sonstige |0 (DE-588)134245247X |4 oth | |
| 856 | 4 | |u http://www.loc.gov/catdir/toc/ecip0514/2005017278.html |3 Table of contents | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014766707&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 942 | 1 | 1 | |c 330.09 |e 22/bsb |f 090511 |g 181 |
| 942 | 1 | 1 | |c 330.09 |e 22/bsb |f 0904 |g 181 |
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-014766707 | |
Datensatz im Suchindex
| _version_ | 1810687609841647616 |
|---|---|
| adam_text |
Contents
List of Figures vii
List of Tables x
List of Contributors xiv
Foreword by Ralph S. Clem xviii
Preface by Eduardo A. Gamarra xx
Acknowledgements xxii
List of Abbreviations xxiii
Introduction. The Role of Spanish Firms in Latin America's
Structural Reforms: 1989 2005
Felix E. Martin and Pablo Toral 1
1 Spanish Direct Investment in Latin America, 1960 2002
Juan Jose Duran 10
2 The Advantage of Spanish Firms in Latin America, 1990 2002
Pablo Toral 31
3 The Transformation of the Spanish Economy and FDI
in Latin America. Towards a New Theoretical Framework
Sebastian Royo 58
4 Spanish Foreign Policy in Latin America
Javier Maestro 86
5 The Foreign Conquest of Latin American Banking:
What's Happening and Why?
James R. Barth, Triphon Phumiwasana and Glenn Yago 109
6 Big Spanish Banks in Brazil: Anything Different in their Asset
and Credit Allocation?
Harry M Makler and Walter L. Ness, Jr 135
7 Spanish Banks in Latin America: Do they Need Each Other?
Alvaro Calderdn 165
8 Spanish Telecoms in Latin America: Telefonica
Fernando Gallardo 186
vi Latin America's Quest for Globalization
9 Stakeholder Impact of Telefonica's Latin American Investments
Michael Periu, Jr 205
10 The Prospects of Spanish Investment in the Latin American Energy
Sector: Will the Reconquest Unravel?
Gustavo de las Casas 228
11 Challenges for Spanish Investments in the Latin American
Energy Industry
Carlos Seiglie 253
12 The Socio Political Dimension of Spanish Direct Investment
in Latin America
Felix E. Martin 262
13 The Latin American Image of Spain in the Aftermath of Recent
Investments
Joaquin Roy 287
14 Conclusions: Challenges and Opportunities of Foreign Investments
in Latin America
Maria Angels Oliva and Luis A. Rivera Batiz 306
Index 330
List of Figures
Figure 1.1 Functional relationship between net accumulated foreign direct
investment per capita in the Spanish economy
and gross domestic product per capita, 1960 2000 13
Figure 1.2 Inward and outward foreign direct investment in Spain,
1978 1996 (peseta billion) 14
Figure 1.3 Inward and outward FDI in Spain, 1978 1996 (peseta billion) 16
Figure 1.4 Inward and outward FDI in Spain, 1994 2001 16
Figure 1.5 Development of Spanish FDI by region (1993 2001)
(€ millions) 23
Figure 1.6 Geographic distribution of Spanish FDI in Latin America,
1993 2003 25
Figure 2.1 Flows of Spanish FDI by destination, 1993 2001
(US\) 32
Figure 2.2 Inward FDI flows in Latin America and the Caribbean,
1992 2000 (USSmillions) 33
Figure 2.3 Development of the advantage 40
Figure 2.4 Application of the advantage 43
Figure 2.5 Geographic distribution of Spanish foreign direct investment
in Latin America and the Caribbean by host country in 2002 47
Figure 3.1 Inward and outward FDI in Spain, 1970 2000 60
Figure 3.2 Risks associated with Spanish FDI in LA 61
Figure 3.3 Host country determinants of FDI 62
Figure 3.4 Firm based factors that contributed to FDI
in Latin America 63
Figure 3.5 Pull and push factors behind the Spanish FDI
in Latin America 64
Figure 3.6 European Integration and Spanish Membership 65
Figure 3.7 The Spanish economic transformation 67
Figure 3.8 The effects of trade liberalization and monetary integration 68
Figure 3.9 Sources of increasing competitiveness 69
Figure 3.10 The EU structural funds 70
Figure 3.11 Percentage of public investment financed
via structural funds 72
Figure 3.12 Percentage of public capital stock financed with
European funds 72
Figure 3.13 The Spanish FDI development path 74
Figure 3.14 Perceived obstacles to FDI in Latin America
by European firms 78
Figure 6.1 Sum of absolute differences in asset composition 146
viii Latin America s Quest for Globalization
Figure 6.2 Sum of absolute differences in liability composition 148
Figure 7.1 Latin America and the Caribbean: FDI flows,
by home country, 1990 2000 (million US dollars) 165
Figure 7.2 Evolution of FDI, by host region, 1993 2001
(in million euros) 166
Figure 7.3 Spanish FDI by sector in the host country, 1993 2001
(percent) 167
Figure 7.4 Effective control by foreign banks over credit
in the financial system of some Latin American countries,
1999 2001 (percent) 169
Figure 7.5 Largest banks in Latin America by share of credit (percent) 169
Figure 7.6 Cross investments in Spanish, French, Portuguese
and Italian banking institutions, December 2001 172
Figure 7.7 SCH and BBVA in the stock exchange, 1998 2002 180
Figure 8.1 International activities before FDI 188
Figure 8.2 FDI strategic approaches 189
Figure 8.3 Evolution of Terra's stock market price 197
Figure 8.4 Evolution of Terra's stock market price 202
Figure 9.1 Net capital flows to Latin America from abroad,
1994 2003 (amounts in billions of US dollars) 206
Figure 9.2 Net foreign direct investment in Latin America
(amounts in billions of US dollars) 207
Figure 9.3 Aggregate GDP in Latin America (billion US dollars) 209
Figure 9.4 Key financial performance indicators for Telef6nica
(billion US dollars) 210
Figure 9.5 Total lines in service in Latin America (millions of lines) 216
Figure 9.6 Performance of Telefonica common stock from October
1998 through October 2003 (US dollars) 220
Figure 9.7 Performance of Telefonica common stock vs.
the Dow Jones Utility Average from October 1998
to October 2003. Indexed to 100 on October 1,1998 221
Figure 9.8 Performance of Telefonica common stock vs. the
Merrill Lynch Technology 100 Index from October 1998
to October 2003. Indexed to 100 on October 1,1998 222
Figure 9.9 Performance of Telef6nica stock price vs. peer group
consisting of Telecom Italia, Portugal Telecom and British
Telecom from October 1998 through October 2003 223
Figure 9.10 Performance of Telefonica stock vs. Nasdaq
Telecommunications Index from October 1998 through
October 2003 index to 100 on October 1, 1998 224
Figure 10.1 The effects of power status and resource nationalism
on the coefficient of sensitivity k 238
Figure 10.2 A two variable model of sensitivity to energy liberalization 239
List of Figures ix
Figure 10.3 Cycles of state firm cooperation in the Argentinean
petroleum sector / petroleum production and imports,
1907 1999 243
Figure 11.1 Repsol YPF vs. AMEX Oil Index 256
Figure 11.2 Endesa vs. DJ Utility Index 257
Figure 11.3 Enersis vs. DJ Utility Index 257
Figure 11.4 Gas Natural 258
Figure 11.5 Union Fenosa 258
Figure 11.6 Iberdrola 259
Figure 14.1 FDI in the world (billion \) 307 308
Figure 14.2 Corruption and FDI/GDP 322
Figure 14.3 Rule of law and FDI/GDP 323
Figure 14.4 Institutions and FDI/GDP 323
List of Tables
Table 1.1 Foreign Direct Investment Trend in the World and Spain,
1970 2003 2
Table 1.1 Development of Spain and the Latin American countries
along the foreign investment development path 17
Table 1.2 Distribution of Spanish outward foreign direct investment,
1963 1978 (percentages) 18
Table 1.3 Spanish outward foreign direct investment, both authorized
by government or liberalized, by target sector, 1959 1973 19
Table 1.4 Spanish outward foreign direct investment, both authorized
by government or liberalized, by target sector, 1974 1978 20
Table 1.5 Distribution of Spanish outward FDI by region and sector,
1981 2000 21
Table 1.6 Distribution by sector of Spanish FDI in Latin America,
1993 2000 22
Table 1.7 Rationale of Spanish Direct Investment in Latin American
countries 24
Table 2.1 FDI outward stock, by home country, in 2000,
in US\ 32
Table 2.2 Position or stock of FDI by country of origin,
first twenty two home economies, percent variation,
1980 2000 33
Table 2.3 Sectoral allocation of Spanish FDI in Latin America,
1980 2000 39
Table 3.1 Inward and outward FDI flows in Spain, 1990 2002 60
Table 3.2 Leading Spanish MNEs in Latin America 60
Table 3.3 Compliance of EMU convergence criteria for Spain,
1993 1997 68
Table 3.4 Change in GDP, employment, productivity
and population in Objective 1 regions, 1994 2001 71
Table 3.5 Impact of EU structural aid on GDP growth in the cohesion
countries 71
Table 4.1 FDI inflows to selected Latin American countries,
1985 1991 97
Table 4.2 Main FDI In/Outflows to Latin America, accumulated data
for 1992 2001 in million Euro 102
Table 4.3 Average GDP growth rate for Latin America, 1990 1998 103
Table 4.4 Average GDP growth rate for Latin America, 1990 2005 103
Table 5.1 National financial systems promote
economic growth, 1999 111
List of Tables xi
Table 5.2 Simple regressions between real GDP per capita and
selected measures of the size, composition and restrictions
of a nation's financial system 112
Table 5.3 An overview of Latin American countries: population,
GDP and bank assets, 2001 115
Table 5.4 Structure ofoutput in Latin American countries, 2000 116
Table 5.5 Six countries dominate in terms of population,
GDP and bank assets, 2001 117
Table 5.6 Size and composition of top six national financial
systems, 2000 118
Table 5.7 The structure, scope, and independence of bank
supervision in the top six Latin American countries 120
Table 5.8 Permissible activities, mixing banking and commerce,
and deposit insurance in selected Latin American
countries 2001 121
Table 5.9 Government owned bank share of total bank assets
in top six countries 122
Table 5.10 Foreign owned bank share of total banks assets
for top six countries 122
Table 5.11 Top six national banking systems: domestic vs. foreign
participation, 2001 123
Table 5.12 Concentration of total bank assets for top six
countries, 2001 124
Table 5.13 Foreign bank concentration among biggest banks
in top six countries, 2001 124
Table 5.14 Foreign bank concentration of total bank assets
in top six countries, 2001 125
Table 5.15 Spanish bank share of total bank assets in top six
countries, 2001 125
Table 5.16 Domestic and foreign banks: selected balance sheet
and income statement items, 2001 127
Table 5.17 Selected measures of the financial environment
in the top six Latin American countries, Spain and
the United States 131
Table 6.1 Spanish banks as percentage of total private Brazilian
banks, 2001 143
Table 6.2 Spanish bank activity in Brazil compared to worldwide
activity 144
Table 6.3 Asset composition of Brazilian banks, end of year 2001
(as percentage of total assets) 145
Table 6.4 Liability composition of Brazilian banks, December 2001
(as a percentage of total liabilities) 148
Table 6.5 Bank lending to sectors in Brazil by type of bank,
December 2001 (as a percentage of total loans) 150
xii Latin America's Quest for Globalization
Table 6.6 Spanish bank lending in Brazil by sector, December 2001
(as a percentage of total gross loans) 152
Table 6.7 Sectoral composition by GDP and bank credit, 2001
(percentage distribution) 153
Table 6.8 Comparison of asset composition of banks before purchase
by Spanish banks and in 2001
(as a percentage of total assets) 154
Table 6.9 Liability composition of Spanish banks before purchase
of local banks and in 2001 (as a percentage of total
liabilities) 156
Table 6.10 Evolution of the composition of the BBVA bank
consolidated gross loan portfolio (as a percentage of
total loans and leasing) 156
Table 7.1 Latin America: participation of foreign banks in the assets
of host markets, 1990 2001 (percent) 168
Table 7.2 SCH in Latin America, 2001 (million dollars) 175
Table 7.3 SCH's FDIs in Latin America, 1996 2001 (million dollars) 176
Table 7.4 BBVA in Latin America in 2001 (percent and million
dollars) 178
Table 8.1 Terra's consolidated income statement (million euros) 198
Table 8.2 Debt ratio in telecom operators 201
Table 9.1 Annual GDP growth rates in Latin America
(percentages) 208
Table 9.2 Telefdnica corporate structure as of March 2004 211
Table 9.3 Latin American customer breakdown for Telefonica,
as of March 2004 (amounts in thousands of clients) 212
Table 9.4 Telefonica's EBITDA margin by operating group
(US dollar billion) 213
Table 9.5 Lines in service as of December 2003 (millions of lines
in service) 213
Table 9.6 Telefonica's types of investments in Latin America
(\) 214
Table 9.7 Subscribers per 100 inhabitants in Latin America 216
Table 9.8 Key telecommunications metrics for Argentina 217
Table 9.9 Key metrics for Brazil 218
Table 9.10 Peru's statistics before and after Telef6nica's investments 218
Table 9.11 Key metrics for Peru 219
Table 10.1 Total oil and gas reserves and Repsol's reserves in
Latin America per country, 2002 246
Table 10.2 Gross domestic product and Repsol's reserves in
Latin America per country, 2002 247
Table 12.1 Unemployment rates in five year intervals among
leading economies in the world, 1980 2000 264
List of Tables xiii
Table 12.2 Gross national income per capita in 2003 international
US\ five year intervals among leading economies in the
world, 1980 2000 264
Table 14.1 Regional distribution of inward FDI flows, 1990 2003 309
Table 14.2 Regional distribution of inward FDI flows, 1990 2003 309
Table 14.3 Spanish FDI flows (million Euros, percentage) 311
Table 14.4 Brazil FDI flows and stock by home country
(\ and percentage) 313
Table 14.5 FDI in Argentina by country of origin, 1992 2002 315
Table 14.6 Spanish largest firms in Argentina, by sector 316
Table 14.7 Spanish MNEs: Net sales, net income and assets
(\ and percentages) 318
Table 14.8 Deterred foreign direct investment 324
Table 14.9 Deterred foreign direct investment 325
Table 14.10 Competitiveness rankings 326 |
| adam_txt |
Contents
List of Figures vii
List of Tables x
List of Contributors xiv
Foreword by Ralph S. Clem xviii
Preface by Eduardo A. Gamarra xx
Acknowledgements xxii
List of Abbreviations xxiii
Introduction. The Role of Spanish Firms in Latin America's
Structural Reforms: 1989 2005
Felix E. Martin and Pablo Toral 1
1 Spanish Direct Investment in Latin America, 1960 2002
Juan Jose Duran 10
2 The Advantage of Spanish Firms in Latin America, 1990 2002
Pablo Toral 31
3 The Transformation of the Spanish Economy and FDI
in Latin America. Towards a New Theoretical Framework
Sebastian Royo 58
4 Spanish Foreign Policy in Latin America
Javier Maestro 86
5 The Foreign Conquest of Latin American Banking:
What's Happening and Why?
James R. Barth, Triphon Phumiwasana and Glenn Yago 109
6 Big Spanish Banks in Brazil: Anything Different in their Asset
and Credit Allocation?
Harry M Makler and Walter L. Ness, Jr 135
7 Spanish Banks in Latin America: Do they Need Each Other?
Alvaro Calderdn 165
8 Spanish Telecoms in Latin America: Telefonica
Fernando Gallardo 186
vi Latin America's Quest for Globalization
9 Stakeholder Impact of Telefonica's Latin American Investments
Michael Periu, Jr 205
10 The Prospects of Spanish Investment in the Latin American Energy
Sector: Will the Reconquest Unravel?
Gustavo de las Casas 228
11 Challenges for Spanish Investments in the Latin American
Energy Industry
Carlos Seiglie 253
12 The Socio Political Dimension of Spanish Direct Investment
in Latin America
Felix E. Martin 262
13 The Latin American Image of Spain in the Aftermath of Recent
Investments
Joaquin Roy 287
14 Conclusions: Challenges and Opportunities of Foreign Investments
in Latin America
Maria Angels Oliva and Luis A. Rivera Batiz 306
Index 330
List of Figures
Figure 1.1 Functional relationship between net accumulated foreign direct
investment per capita in the Spanish economy
and gross domestic product per capita, 1960 2000 13
Figure 1.2 Inward and outward foreign direct investment in Spain,
1978 1996 (peseta billion) 14
Figure 1.3 Inward and outward FDI in Spain, 1978 1996 (peseta billion) 16
Figure 1.4 Inward and outward FDI in Spain, 1994 2001 16
Figure 1.5 Development of Spanish FDI by region (1993 2001)
(€ millions) 23
Figure 1.6 Geographic distribution of Spanish FDI in Latin America,
1993 2003 25
Figure 2.1 Flows of Spanish FDI by destination, 1993 2001
(US\) 32
Figure 2.2 Inward FDI flows in Latin America and the Caribbean,
1992 2000 (USSmillions) 33
Figure 2.3 Development of the advantage 40
Figure 2.4 Application of the advantage 43
Figure 2.5 Geographic distribution of Spanish foreign direct investment
in Latin America and the Caribbean by host country in 2002 47
Figure 3.1 Inward and outward FDI in Spain, 1970 2000 60
Figure 3.2 Risks associated with Spanish FDI in LA 61
Figure 3.3 Host country determinants of FDI 62
Figure 3.4 Firm based factors that contributed to FDI
in Latin America 63
Figure 3.5 Pull and push factors behind the Spanish FDI
in Latin America 64
Figure 3.6 European Integration and Spanish Membership 65
Figure 3.7 The Spanish economic transformation 67
Figure 3.8 The effects of trade liberalization and monetary integration 68
Figure 3.9 Sources of increasing competitiveness 69
Figure 3.10 The EU structural funds 70
Figure 3.11 Percentage of public investment financed
via structural funds 72
Figure 3.12 Percentage of public capital stock financed with
European funds 72
Figure 3.13 The Spanish FDI development path 74
Figure 3.14 Perceived obstacles to FDI in Latin America
by European firms 78
Figure 6.1 Sum of absolute differences in asset composition 146
viii Latin America s Quest for Globalization
Figure 6.2 Sum of absolute differences in liability composition 148
Figure 7.1 Latin America and the Caribbean: FDI flows,
by home country, 1990 2000 (million US dollars) 165
Figure 7.2 Evolution of FDI, by host region, 1993 2001
(in million euros) 166
Figure 7.3 Spanish FDI by sector in the host country, 1993 2001
(percent) 167
Figure 7.4 Effective control by foreign banks over credit
in the financial system of some Latin American countries,
1999 2001 (percent) 169
Figure 7.5 Largest banks in Latin America by share of credit (percent) 169
Figure 7.6 Cross investments in Spanish, French, Portuguese
and Italian banking institutions, December 2001 172
Figure 7.7 SCH and BBVA in the stock exchange, 1998 2002 180
Figure 8.1 International activities before FDI 188
Figure 8.2 FDI strategic approaches 189
Figure 8.3 Evolution of Terra's stock market price 197
Figure 8.4 Evolution of Terra's stock market price 202
Figure 9.1 Net capital flows to Latin America from abroad,
1994 2003 (amounts in billions of US dollars) 206
Figure 9.2 Net foreign direct investment in Latin America
(amounts in billions of US dollars) 207
Figure 9.3 Aggregate GDP in Latin America (billion US dollars) 209
Figure 9.4 Key financial performance indicators for Telef6nica
(billion US dollars) 210
Figure 9.5 Total lines in service in Latin America (millions of lines) 216
Figure 9.6 Performance of Telefonica common stock from October
1998 through October 2003 (US dollars) 220
Figure 9.7 Performance of Telefonica common stock vs.
the Dow Jones Utility Average from October 1998
to October 2003. Indexed to 100 on October 1,1998 221
Figure 9.8 Performance of Telefonica common stock vs. the
Merrill Lynch Technology 100 Index from October 1998
to October 2003. Indexed to 100 on October 1,1998 222
Figure 9.9 Performance of Telef6nica stock price vs. peer group
consisting of Telecom Italia, Portugal Telecom and British
Telecom from October 1998 through October 2003 223
Figure 9.10 Performance of Telefonica stock vs. Nasdaq
Telecommunications Index from October 1998 through
October 2003 index to 100 on October 1, 1998 224
Figure 10.1 The effects of power status and resource nationalism
on the coefficient of sensitivity k 238
Figure 10.2 A two variable model of sensitivity to energy liberalization 239
List of Figures ix
Figure 10.3 Cycles of state firm cooperation in the Argentinean
petroleum sector / petroleum production and imports,
1907 1999 243
Figure 11.1 Repsol YPF vs. AMEX Oil Index 256
Figure 11.2 Endesa vs. DJ Utility Index 257
Figure 11.3 Enersis vs. DJ Utility Index 257
Figure 11.4 Gas Natural 258
Figure 11.5 Union Fenosa 258
Figure 11.6 Iberdrola 259
Figure 14.1 FDI in the world (billion \) 307 308
Figure 14.2 Corruption and FDI/GDP 322
Figure 14.3 Rule of law and FDI/GDP 323
Figure 14.4 Institutions and FDI/GDP 323
List of Tables
Table 1.1 Foreign Direct Investment Trend in the World and Spain,
1970 2003 2
Table 1.1 Development of Spain and the Latin American countries
along the foreign investment development path 17
Table 1.2 Distribution of Spanish outward foreign direct investment,
1963 1978 (percentages) 18
Table 1.3 Spanish outward foreign direct investment, both authorized
by government or liberalized, by target sector, 1959 1973 19
Table 1.4 Spanish outward foreign direct investment, both authorized
by government or liberalized, by target sector, 1974 1978 20
Table 1.5 Distribution of Spanish outward FDI by region and sector,
1981 2000 21
Table 1.6 Distribution by sector of Spanish FDI in Latin America,
1993 2000 22
Table 1.7 Rationale of Spanish Direct Investment in Latin American
countries 24
Table 2.1 FDI outward stock, by home country, in 2000,
in US\ 32
Table 2.2 Position or stock of FDI by country of origin,
first twenty two home economies, percent variation,
1980 2000 33
Table 2.3 Sectoral allocation of Spanish FDI in Latin America,
1980 2000 39
Table 3.1 Inward and outward FDI flows in Spain, 1990 2002 60
Table 3.2 Leading Spanish MNEs in Latin America 60
Table 3.3 Compliance of EMU convergence criteria for Spain,
1993 1997 68
Table 3.4 Change in GDP, employment, productivity
and population in Objective 1 regions, 1994 2001 71
Table 3.5 Impact of EU structural aid on GDP growth in the cohesion
countries 71
Table 4.1 FDI inflows to selected Latin American countries,
1985 1991 97
Table 4.2 Main FDI In/Outflows to Latin America, accumulated data
for 1992 2001 in million Euro 102
Table 4.3 Average GDP growth rate for Latin America, 1990 1998 103
Table 4.4 Average GDP growth rate for Latin America, 1990 2005 103
Table 5.1 National financial systems promote
economic growth, 1999 111
List of Tables xi
Table 5.2 Simple regressions between real GDP per capita and
selected measures of the size, composition and restrictions
of a nation's financial system 112
Table 5.3 An overview of Latin American countries: population,
GDP and bank assets, 2001 115
Table 5.4 Structure ofoutput in Latin American countries, 2000 116
Table 5.5 Six countries dominate in terms of population,
GDP and bank assets, 2001 117
Table 5.6 Size and composition of top six national financial
systems, 2000 118
Table 5.7 The structure, scope, and independence of bank
supervision in the top six Latin American countries 120
Table 5.8 Permissible activities, mixing banking and commerce,
and deposit insurance in selected Latin American
countries 2001 121
Table 5.9 Government owned bank share of total bank assets
in top six countries 122
Table 5.10 Foreign owned bank share of total banks assets
for top six countries 122
Table 5.11 Top six national banking systems: domestic vs. foreign
participation, 2001 123
Table 5.12 Concentration of total bank assets for top six
countries, 2001 124
Table 5.13 Foreign bank concentration among biggest banks
in top six countries, 2001 124
Table 5.14 Foreign bank concentration of total bank assets
in top six countries, 2001 125
Table 5.15 Spanish bank share of total bank assets in top six
countries, 2001 125
Table 5.16 Domestic and foreign banks: selected balance sheet
and income statement items, 2001 127
Table 5.17 Selected measures of the financial environment
in the top six Latin American countries, Spain and
the United States 131
Table 6.1 Spanish banks as percentage of total private Brazilian
banks, 2001 143
Table 6.2 Spanish bank activity in Brazil compared to worldwide
activity 144
Table 6.3 Asset composition of Brazilian banks, end of year 2001
(as percentage of total assets) 145
Table 6.4 Liability composition of Brazilian banks, December 2001
(as a percentage of total liabilities) 148
Table 6.5 Bank lending to sectors in Brazil by type of bank,
December 2001 (as a percentage of total loans) 150
xii Latin America's Quest for Globalization
Table 6.6 Spanish bank lending in Brazil by sector, December 2001
(as a percentage of total gross loans) 152
Table 6.7 Sectoral composition by GDP and bank credit, 2001
(percentage distribution) 153
Table 6.8 Comparison of asset composition of banks before purchase
by Spanish banks and in 2001
(as a percentage of total assets) 154
Table 6.9 Liability composition of Spanish banks before purchase
of local banks and in 2001 (as a percentage of total
liabilities) 156
Table 6.10 Evolution of the composition of the BBVA bank
consolidated gross loan portfolio (as a percentage of
total loans and leasing) 156
Table 7.1 Latin America: participation of foreign banks in the assets
of host markets, 1990 2001 (percent) 168
Table 7.2 SCH in Latin America, 2001 (million dollars) 175
Table 7.3 SCH's FDIs in Latin America, 1996 2001 (million dollars) 176
Table 7.4 BBVA in Latin America in 2001 (percent and million
dollars) 178
Table 8.1 Terra's consolidated income statement (million euros) 198
Table 8.2 Debt ratio in telecom operators 201
Table 9.1 Annual GDP growth rates in Latin America
(percentages) 208
Table 9.2 Telefdnica corporate structure as of March 2004 211
Table 9.3 Latin American customer breakdown for Telefonica,
as of March 2004 (amounts in thousands of clients) 212
Table 9.4 Telefonica's EBITDA margin by operating group
(US dollar billion) 213
Table 9.5 Lines in service as of December 2003 (millions of lines
in service) 213
Table 9.6 Telefonica's types of investments in Latin America
(\) 214
Table 9.7 Subscribers per 100 inhabitants in Latin America 216
Table 9.8 Key telecommunications metrics for Argentina 217
Table 9.9 Key metrics for Brazil 218
Table 9.10 Peru's statistics before and after Telef6nica's investments 218
Table 9.11 Key metrics for Peru 219
Table 10.1 Total oil and gas reserves and Repsol's reserves in
Latin America per country, 2002 246
Table 10.2 Gross domestic product and Repsol's reserves in
Latin America per country, 2002 247
Table 12.1 Unemployment rates in five year intervals among
leading economies in the world, 1980 2000 264
List of Tables xiii
Table 12.2 Gross national income per capita in 2003 international
US\ five year intervals among leading economies in the
world, 1980 2000 264
Table 14.1 Regional distribution of inward FDI flows, 1990 2003 309
Table 14.2 Regional distribution of inward FDI flows, 1990 2003 309
Table 14.3 Spanish FDI flows (million Euros, percentage) 311
Table 14.4 Brazil FDI flows and stock by home country
(\ and percentage) 313
Table 14.5 FDI in Argentina by country of origin, 1992 2002 315
Table 14.6 Spanish largest firms in Argentina, by sector 316
Table 14.7 Spanish MNEs: Net sales, net income and assets
(\ and percentages) 318
Table 14.8 Deterred foreign direct investment 324
Table 14.9 Deterred foreign direct investment 325
Table 14.10 Competitiveness rankings 326 |
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| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| era | Geschichte 1960-2005 gnd |
| era_facet | Geschichte 1960-2005 |
| format | Book |
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| geographic | Lateinamerika Spanien Lateinamerika (DE-588)4074032-8 gnd Spanien (DE-588)4055964-6 gnd |
| geographic_facet | Lateinamerika Spanien |
| id | DE-604.BV021550631 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T14:31:27Z |
| indexdate | 2024-09-20T04:24:28Z |
| institution | BVB |
| isbn | 0754643425 9780754643425 |
| language | English |
| lccn | 2005017278 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-014766707 |
| oclc_num | 67988341 |
| open_access_boolean | |
| owner | DE-12 |
| owner_facet | DE-12 |
| physical | XXV, 333 S. |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | Ashgate |
| record_format | marc |
| series2 | The international political economy of new regionalisms series |
| spelling | Latin America's quest for globalization the role of Spanish firms ed. by Félix E. Martín and Pablo Toral Aldershot [u.a.] Ashgate 2005 XXV, 333 S. txt rdacontent n rdamedia nc rdacarrier The international political economy of new regionalisms series Includes index. Geschichte 1960-2005 gnd rswk-swf Multinationales Unternehmen Investments, Spanish Latin America Corporations, Spanish Latin America International business enterprises Spain International business enterprises Latin America Globalisierung (DE-588)4557997-0 gnd rswk-swf Lateinamerika Spanien Lateinamerika (DE-588)4074032-8 gnd rswk-swf Spanien (DE-588)4055964-6 gnd rswk-swf Lateinamerika (DE-588)4074032-8 g Globalisierung (DE-588)4557997-0 s Spanien (DE-588)4055964-6 g Geschichte 1960-2005 z DE-604 Martín, Félix E. Sonstige (DE-588)134245247X oth http://www.loc.gov/catdir/toc/ecip0514/2005017278.html Table of contents HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014766707&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Latin America's quest for globalization the role of Spanish firms Multinationales Unternehmen Investments, Spanish Latin America Corporations, Spanish Latin America International business enterprises Spain International business enterprises Latin America Globalisierung (DE-588)4557997-0 gnd |
| subject_GND | (DE-588)4557997-0 (DE-588)4074032-8 (DE-588)4055964-6 |
| title | Latin America's quest for globalization the role of Spanish firms |
| title_auth | Latin America's quest for globalization the role of Spanish firms |
| title_exact_search | Latin America's quest for globalization the role of Spanish firms |
| title_exact_search_txtP | Latin America's quest for globalization the role of Spanish firms |
| title_full | Latin America's quest for globalization the role of Spanish firms ed. by Félix E. Martín and Pablo Toral |
| title_fullStr | Latin America's quest for globalization the role of Spanish firms ed. by Félix E. Martín and Pablo Toral |
| title_full_unstemmed | Latin America's quest for globalization the role of Spanish firms ed. by Félix E. Martín and Pablo Toral |
| title_short | Latin America's quest for globalization |
| title_sort | latin america s quest for globalization the role of spanish firms |
| title_sub | the role of Spanish firms |
| topic | Multinationales Unternehmen Investments, Spanish Latin America Corporations, Spanish Latin America International business enterprises Spain International business enterprises Latin America Globalisierung (DE-588)4557997-0 gnd |
| topic_facet | Multinationales Unternehmen Investments, Spanish Latin America Corporations, Spanish Latin America International business enterprises Spain International business enterprises Latin America Globalisierung Lateinamerika Spanien |
| url | http://www.loc.gov/catdir/toc/ecip0514/2005017278.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014766707&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT martinfelixe latinamericasquestforglobalizationtheroleofspanishfirms |