The study of economic development in the Third World has been dominated by the comparison of import-substitution industrialization (ISI) and export-led industrialization as two "alternative strategies' of development. Using the theory of the internationalization of capital and Marx's expanded reproduction, I argue that ISI and export-led industrialization are two stages of the internationalization of production as opposed to two alternative strategies and that, in both cases, developing capitalist countries inherit a built-in instability in the process of accumulation.
Balassa, Bella
. 1981. Newly Industrializing Countries in the World Economy. Oxford: Pregamon Press.
3.
Barone, Charles A.1983. Dependency, Marxist Theory, and Salvaging the Idea of capitalism in South Korea. Union of radical Political Economics15(1): 43-70.
4.
Bhagwatti, J.N.1978. Foreign Trade Regimes and Economic Development: Anatomy and Consequences of Exchange Control Regimes. Cambridge: Ballinger Press.
5.
Bienefeld, M.A.1982. The International Context for National Development Strategies - Constraints and Opportunities in a Changing World. In, The Struggle for Development: National Strategies in an International Context, M. A. Bienefeld and M. Godfree (eds.). Chichester, John Wiely.
6.
Datta, Chaudhuri M.K.1981. Industrialization and foreign Trade: The Development Experiences of South Korea and the Philippines. In, Export-Led Industrialization and Development, Eddy Lee (ed.). Geneva: International Labor Office.
7.
de Janvry, Alain
and Garraman Carlos. 1977. Laws of Motion of Capital in the Center-Periphery Structure. Union of Radical Political Economics9(2): 29-38.
8.
Evans, David
and Allizadeh, Parvin. 1984. Trade, Internationalization and Visible Hand. Journal of Development Studies21(1): 2246.
9.
Fernandez, Paul
. 1980. Third World Industrialization: A New Panacea?Monthly Review. May.
10.
Griffith-Jones Stephny
and Rodriguez Ennio. 1984. Private International Finance and Industrialization of LDC's. Journal of Development Studies21(1): 47-73.
11.
Hirschman, Albert
. 1958. The Strategy of Economic Development. New Haven: Yale University Press.
12.
Hirschman, Albert
. The Political Economy of Import-Substitution Industrialization in Latin America. Quarterly Journal of Economics82(1).
13.
Kruegger, Ann
. 1986. The Effects of Trade Strategies on Growth. In, International Trade and finance, Robert Baldwin and J. David Richardson (eds.). 216-227. Boston: Little, Brown and Company.
14.
Landsberg, Martin
. 1979. Export-Led Industrialization in the Third World: Manufacturing Imperialism. Union of Radical Political Economics11(4): 50-63.
15.
Landsberg, Martin
. 1984. Capitalism and Third World Development: A Critical Look at the South Korean "Miracle". Union of Radical Political Economics16(2 & 3): 181-194.
16.
Lee, Eddy
. 1981. Export-Led Industrialization in Asia: An Overview. In, Export-Led Industrialization and Development, Eddy Lee (ed.). 1-21. Geneva: International Labor Office.
17.
Lippit, Victor D.1985. The Concept of the Surplus in Economic Development. RRPE17(1/2): 1-19.
18.
Marx, Karl
. 1976. The Future Results of the British Rule in India. In, On Colonialism, K. Marx and F. Engels. Moscow: Progress Publisher.
19.
Marx, Karl
and F. Engels. 1966. The Communist Manifesto. In, Selected Works - Volume I. Moscow: Progress Publisher.
20.
Ohlin, B.1967. International and Interregional Trade. Cambridge: Harvard University Press.
21.
Palloix, Christian
. The Self-Expansion of Capital on a World Scale. Union of Radical Political Economics9(2): 1-28.
22.
Prebisch, Raul
. 1950. The Economic Development of Latin America and its Principle Problems. E. CL.A. New York: U.N. Department of Economic Affairs.
23.
Prebisch, Raul
. 1959. Commercial Policy in the Underdeveloped Countries. American Economic Review, Papers and Proceedings49.
24.
Ricardo, David
. Principle of Political Economy and Taxation. London: J. M. Dent & Sons LTD.
25.
Rubin, Issac
. 1979. A History of Economic Thoughts. London: Ink Link.
26.
Salvatore, Dominick
. 1987. International Economics. New York: Macmillan.
27.
Schmith, Hurbert
. 1984. Industrialization in Less Developed Countries: some Lessons of Historical Experience. Journal of Development Studies21(1):1-21.
28.
Shaikh, Anvar
. 1979. Foreign Trade and the Law of Value: Parts I. Science and Society (Fall).
29.
Shaikh, Anvar
. 1980. Foreign Trade and the Law of Value: Part II. Science and Society (Spring).
30.
Streeten, Paul
. 1986. A Cool Look at Outward looking strategies for Development. In, International Trade andfinance, Robert Baldwin and J. David Richardson (eds.), 222-233. Boston: Little, Brown and Company.
31.
Vernon, Raymond
. 1966. International Investment and International Trade in the Product Cycle. Quarterly Journal of Economics (May): 190-207.
32.
Vernon, Raymond
. 1985. The Product Cycle Hypothesis in the New International Enviroment. In, The Contemporary International Economics—A Reader, John Adams (ed.), 397-407. New York: St. Martin's Press.
33.
Westphall, Larry
. 1978. The Republic of Korea's Experience with Export-Led Industrial Development. World Development6(3): 347-382.
34.
Weeks, John
. 1977. Backwardness, Foreign Capital, and Accumulation in the Manufacturing Sector of Peru, 1954-75. Latin American Perspective4(3): 124-145.
35.
Weeks, John
and Elizabeth Dore. 1979. International Exchange and the Causes of Backwardness. Latin American Perspective6(21): 62-88.
36.
Weeks, John
. 1985-86. Epochs of Capitalism and the Progressiveness of Capitals Expansion. Science & SocietyXLIX (4): 414-434.
37.
Yaghmaian, Behzad
. 1988. Internationalization of Capital and the Crisis of the Iranian Economy. Review of Radical Political Economics20 (4), forthcoming.
