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Foreign Investment Under Contemporary Argentine Law

Foreign Investment Under Contemporary Argentine Law Practitioner's Notebook FOREIG N INVESTMENT UNDER CONTEMPORARY ARGENTIN E LAW Ricardo Giacchino* Foreig n investment has been subjected in Argentina since 1970 t o a series of regulations aimed at materializing certain political goals. It wa s considered that foreign investment (especially multinational), whos e greatest rate wa s recorded during th e period from 1968 t o 1971, wa s a factor which lead to an imbalance in the national economy becaus e it: 1) barred local industrial growth, since competition was very difficult, 2) caused an imbalance of payments due to the incidence of foreign debt originating in dividends and royalties payable abroad, an d 3) attracte d nationa l ban k credit lines becaus e of th e bette r guaran­ tees and solvency offered in many cases by the foreign companies. On the other hand, it is importan t to point out that in Jul y 1971, declaratio n No. 32 of th e "Cartagen a Agreement" was issued and sign­ ed by the Andea n Group countries. Even thoug h Argentina did not take par t in it, th e philosophy of this Agreement inspired th e legal trend s to whic h we http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Journal of Comparative Law Oxford University Press

Foreign Investment Under Contemporary Argentine Law

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Publisher
Oxford University Press
Copyright
© 1978 by The American Society of Comparative Law, Inc.
ISSN
0002-919X
eISSN
2326-9197
DOI
10.2307/839777
Publisher site
See Article on Publisher Site

Abstract

Practitioner's Notebook FOREIG N INVESTMENT UNDER CONTEMPORARY ARGENTIN E LAW Ricardo Giacchino* Foreig n investment has been subjected in Argentina since 1970 t o a series of regulations aimed at materializing certain political goals. It wa s considered that foreign investment (especially multinational), whos e greatest rate wa s recorded during th e period from 1968 t o 1971, wa s a factor which lead to an imbalance in the national economy becaus e it: 1) barred local industrial growth, since competition was very difficult, 2) caused an imbalance of payments due to the incidence of foreign debt originating in dividends and royalties payable abroad, an d 3) attracte d nationa l ban k credit lines becaus e of th e bette r guaran­ tees and solvency offered in many cases by the foreign companies. On the other hand, it is importan t to point out that in Jul y 1971, declaratio n No. 32 of th e "Cartagen a Agreement" was issued and sign­ ed by the Andea n Group countries. Even thoug h Argentina did not take par t in it, th e philosophy of this Agreement inspired th e legal trend s to whic h we

Journal

American Journal of Comparative Law – Oxford University Press

Published: Jan 1, 1978

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