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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| Formato: | Artículo publishedVersion |
| Lenguaje: | Español |
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Centro de Estudios de Historia Económica Argentina y Latinoamericana (CEHEAL)
2014
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| 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 |
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| Sumario: | 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. |
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