IAPI and the Financing of Industrial Expansion Between 1946 and 1955: What Do its Accounts Say?

This paper tries specifically to determine whether industrial expansion was financed by exports of the agricultural sector through the IAPI. Accordingly, two mutually complementary operational hypotheses are formulated: 1-the industrial sector is the main destination of the funds of IAPI, either as...

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Detalles Bibliográficos
Autor principal: Ruiz, Julio
Formato: Artículo publishedVersion
Lenguaje:Español
Publicado: Centro de Estudios de Historia Económica Argentina y Latinoamericana (CEHEAL) 2014
Materias:
Industrial financing
Agricultural sector
Foreign trade
Financiamiento industrial
Sector agropecuario
Comercio exterior
Acceso en línea:https://ojs.economicas.uba.ar/H-ind/article/view/729
https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=hindus&d=729_oai
Aporte de:
Repositorio Digital de la Universidad de Buenos Aires (UBA) de Universidad de Buenos Aires
id I28-R145-729_oai
record_format dspace
institution Universidad de Buenos Aires
institution_str I-28
repository_str R-145
collection Repositorio Digital de la Universidad de Buenos Aires (UBA)
language Español
orig_language_str_mv spa
topic Industrial financing
Agricultural sector
Foreign trade
Financiamiento industrial
Sector agropecuario
Comercio exterior
spellingShingle Industrial financing
Agricultural sector
Foreign trade
Financiamiento industrial
Sector agropecuario
Comercio exterior
Ruiz, Julio
IAPI and the Financing of Industrial Expansion Between 1946 and 1955: What Do its Accounts Say?
topic_facet Industrial financing
Agricultural sector
Foreign trade
Financiamiento industrial
Sector agropecuario
Comercio exterior
description This paper tries specifically to determine whether industrial expansion was financed by exports of the agricultural sector through the IAPI. Accordingly, two mutually complementary operational hypotheses are formulated: 1-the industrial sector is the main destination of the funds of IAPI, either as subsidies or as loans and 2-the profits generated by foreign trade are the main source of funds of IAPI. To do this, this paper aims to organize information using accounting and economic concepts for specifying origins and destinations of the funds managed by the IAPI. This analysis must distinguish the cash used in IAPI loss of the borrowed funds as credits, as well as to distinguish genuine funds generated by the normal activity of the Institute from those provided from the state orbit. The empirical accounting evidence obtained does not support hypothesis 2, as the main source of funds is not generated from Profits of Foreign Trade operations. Nor does empirical evidence supports working hypothesis 1, because the main destination of IAPI funds was not the industry, and in addition, the funds for the agricultural sector made up 85% of funds for the private sector. Consequently, from the point of view of accounting information it cannot be said that the industrial expansion of that period was financed with funds generated by the specific activity of the IAPI.
format Artículo
publishedVersion
author Ruiz, Julio
author_facet Ruiz, Julio
author_sort Ruiz, Julio
title IAPI and the Financing of Industrial Expansion Between 1946 and 1955: What Do its Accounts Say?
title_short IAPI and the Financing of Industrial Expansion Between 1946 and 1955: What Do its Accounts Say?
title_full IAPI and the Financing of Industrial Expansion Between 1946 and 1955: What Do its Accounts Say?
title_fullStr IAPI and the Financing of Industrial Expansion Between 1946 and 1955: What Do its Accounts Say?
title_full_unstemmed IAPI and the Financing of Industrial Expansion Between 1946 and 1955: What Do its Accounts Say?
title_sort iapi and the financing of industrial expansion between 1946 and 1955: what do its accounts say?
publisher Centro de Estudios de Historia Económica Argentina y Latinoamericana (CEHEAL)
publishDate 2014
url https://ojs.economicas.uba.ar/H-ind/article/view/729
https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=hindus&d=729_oai
work_keys_str_mv AT ruizjulio iapiandthefinancingofindustrialexpansionbetween1946and1955whatdoitsaccountssay
AT ruizjulio eliapiyelfinanciamientodelaexpansionindustrialentre1946y1955quedicensuscuentas
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spelling I28-R145-729_oai2025-02-11 Ruiz, Julio 2014-12-30 This paper tries specifically to determine whether industrial expansion was financed by exports of the agricultural sector through the IAPI. Accordingly, two mutually complementary operational hypotheses are formulated: 1-the industrial sector is the main destination of the funds of IAPI, either as subsidies or as loans and 2-the profits generated by foreign trade are the main source of funds of IAPI. To do this, this paper aims to organize information using accounting and economic concepts for specifying origins and destinations of the funds managed by the IAPI. This analysis must distinguish the cash used in IAPI loss of the borrowed funds as credits, as well as to distinguish genuine funds generated by the normal activity of the Institute from those provided from the state orbit. The empirical accounting evidence obtained does not support hypothesis 2, as the main source of funds is not generated from Profits of Foreign Trade operations. Nor does empirical evidence supports working hypothesis 1, because the main destination of IAPI funds was not the industry, and in addition, the funds for the agricultural sector made up 85% of funds for the private sector. Consequently, from the point of view of accounting information it cannot be said that the industrial expansion of that period was financed with funds generated by the specific activity of the IAPI. Este trabajo analiza la validez de las críticas que se refieren al destino de los fondos generados en el Instituto Argentino para la Promoción del Intercambio (IAPI), a partir de la información cuantitativa contable disponible. Concretamente, trata de establecer si la expansión industrial fue financiada por las exportaciones del sector agrícola-ganadero a través del IAPI. En consecuencia, se formulan dos hipótesis operativas complementarias entre sí: 1- el sector industrial es el destino principal de los fondos del IAPI, sea como subsidios o como créditos; y 2- las ganancias generadas por las operaciones de comercio exterior son la principal fuente de fondos del IAPI. Para ello, este trabajo pretende organizar la información aplicando conceptos contables y económicos que permiten especificar orígenes y destinos de los fondos manejados por el IAPI. Éste análisis exige también discriminar los fondos aplicados a pérdida del IAPI, de los fondos prestados como créditos. Como así también, distinguir los fondos generados genuinamente, mediante la actividad normal del Instituto, de aquellos prestados desde la órbita estatal. La evidencia empírica contable obtenida no sustenta la hipótesis operativa 2, pues la principal fuente de fondos no son las ganancias generadas por operaciones de Comercio Exterior. La evidencia empírica tampoco sustenta la hipótesis operativa 1, pues el destino principal de fondos del IAPI no fue la industria y además, los fondos destinados al sector agropecuario fueron el 85% de los fondos destinados para el sector privado. En consecuencia, desde el punto de vista de la información contable no puede afirmarse que con fondos generados por la actividad específica del IAPI se haya financiado la expansión industrial de esa época. Abstract This paper examines the validity of the criticisms concerning the use of funds generated by the Argentine Institute for Promotion of Trade (IAPI), from accounting quantitative information available. This paper tries specifically to determine whether industrial expansion was financed by exports of the agricultural sector through the IAPI. Accordingly, two mutually complementary operational hypotheses are formulated: 1-the industrial sector is the main destination of the funds of IAPI, either as subsidies or as loans and 2-the profits generated by foreign trade are the main source of funds of IAPI. To do this, this paper aims to organize information using accounting and economic concepts for specifying origins and destinations of the funds managed by the IAPI. This analysis must distinguish the cash used in IAPI loss of the borrowed funds as credits, as well as to distinguish genuine funds generated by the normal activity of the Institute from those provided from the state orbit. The empirical accounting evidence obtained does not support hypothesis 2, as the main source of funds is not generated from Profits of Foreign Trade operations. Nor does empirical evidence supports working hypothesis 1, because the main destination of IAPI funds was not the industry, and in addition, the funds for the agricultural sector made up 85% of funds for the private sector. Consequently, from the point of view of accounting information it cannot be said that the industrial expansion of that period was financed with funds generated by the specific activity of the IAPI. application/pdf https://ojs.economicas.uba.ar/H-ind/article/view/729 spa Centro de Estudios de Historia Económica Argentina y Latinoamericana (CEHEAL) https://ojs.economicas.uba.ar/H-ind/article/view/729/1351 H-industria. Journal of the History of Industry and Development in Latin America; No. 15 (8): Segundo semestre de 2014; 1-29 H-industria. Revista de historia de la industria y el desarrollo en América Latina; Núm. 15 (8): Segundo semestre de 2014; 1-29 H-industria. Revista sobre a história da indústria e desenvolvimento na América Latina; n. 15 (8): Segundo semestre de 2014; 1-29 1851-703X Industrial financing Agricultural sector Foreign trade Financiamiento industrial Sector agropecuario Comercio exterior IAPI and the Financing of Industrial Expansion Between 1946 and 1955: What Do its Accounts Say? El IAPI y el financiamiento de la expansión industrial entre 1946 y 1955: ¿Qué dicen sus cuentas? info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=hindus&d=729_oai

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