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Year 2018, State and Development in the 21st Century, 141 - 166, 28.02.2018
https://doi.org/10.25295/fsecon.2018.s1.005

Abstract

References

  • Amin, S (1976) Unequal development: An essay on the social formations of peripheral capitalism. Montly Review Press
  • Amsden, A(1989) Asia’s Next Giant: South Korea and Late Industrialization. Oxford University Press
  • Baer, W and I.Kerstenetzky (1964) Import Substitution and Industrialization of Brazil, The American Economic Review Vol:54, no 3, p.411-425
  • Barr, K (1981) On the Capitalist Enterprise, Reiew of Radical Political Economics, Vol:12, No.4.
  • Bina, C and B. Yaghmaian (1991) Post-war Global Accumulation and the Transnationalisation of Capital. Capital and Class 43, Spring 107-130
  • Bryan, D. (1995) The Internationalisation of Capital and Marxian Value Theory, Cambridge Journal of Economics, Vol. 19, No.3, 421-440
  • Chang, Ha-Joon (2014) Ekonomi Rehberi, Çev. Mihriban Doğan, Say Yayınları
  • Clarke, S (1974) The Development of Capitalism. Perspectives on Work, Welfare and Society. Serial Editor: Ian Clegg, First Publ. Sheed and Ward Ltd.
  • Dore, E (2003) Understanding Capitalism in the Thirld World, p.164-175 In: Ed by Alfredo Saad Filho, Anti-Capitalism: A Marxist Introduction, Pluto Press
  • Ercan, F (2002) Çelişkili Bir Süreklilik Olarak Sermaye Birikimi – I: Türkiye’de Kapitalizmin Gelişme Dinamikleri: Marksist Bir Çerçeve Denemesi, Praksis, Kış, 5,25-77
  • Furtado, C. (1976) Economic Development of Latin America, Historical Backround and Contemporary Problems, Translated by Suzette Macedo, Cambridge University Press, Second Edition.
  • Gerschenkron, A (1962), Economic backwardness in historical perspective, a book of essays, Cambridge, Massachusetts: Belknap Press of Harvard University Press
  • Grabel, Ilene. (1995), Speculation-Led Economic Development: A Post-Keynesian Interpretation of Financial Liberalization Programs In the Third World. International Review of Applied Economics 9 (2): 127–249
  • Heinrich, M (2017) Kapital’e Giriş, Çev. Koray R. Yılmaz, Yordam Kitap, İstanbul.
  • Hoselitz, B. F (1970) Ekonomik Kalkınmanın Sosyolojik Yönleri, Çev: E. T. Çelikkan, Ankara: Yarın Yayınları
  • Markovits, C. (1985) Indian Business and Nationalist Politics 1931-1939, The Indigenous Capitalist Class and the Rise of the Congress Party, Cambridge University Pres.
  • Marx, K (2011) Kapital I, Çev. Mehmet Selik ve Nail Satlıgan, Yordam Kitap, İstanbul
  • Marx, K (2012) Kapital II, Çev. Mehmet Selik, Yordam Kitap, İstanbul
  • Marx, K ve F. Engels (2008) Komünist Manifesto, Yordam Kitap, İstanbul
  • Maxfield, S and J.Nolt (1990) Protectionism and the Internationlisation of Capital: U.S Sponsorship of Import Substitution Industrialization in the Philippines, Turkey and Argentina, International Studies Quarterly, Vol 34, no 1, p. 49-81
  • Nurkse, R. (1953) Problems of Capital Formation in Underdeveloped Countries, Oxford: Basil Blackwell
  • Oğuz, Ş (2005) Reconsidering Globalization as the Internationalization of Capital: Implications for Understanding State Restructuring, Presentation for the panel “State Restructuring and Social Transformation: Confronting Noliberalism” at the Annual Meeting of the Canadian Political Science Association.
  • Palloix, C (1977a) The Self-Expansion of Capital on a World Scale. Review of Radical Political Economics 9:3
  • Palloix, C (1977b) Conceptualizing the Internaionalization of Capital. Translated by Margaret Bald and David Levey, Review of Radical Political Economics 9:17
  • Rosenstein-Rodan, P. N. (1943) Problems of Industrialisation of Eastern and South Eastern Europe The Economic Journal, 53 (210/211): 202-211.
  • Rostow, W. W. (1979) The Stages of Economic Growth, Cambridge: Cambridge University Pres. Second Edition
  • Shaikh, A. (1979) Foreign Trade and the Law of Value: Part I, Science and Society, 43:3, Fall p.281
  • Shin J-S and H-J Chang (2003) Restructuring Korea Inc. Routledge
  • Weeks, J. (1998) The Law of Value and the Analysis of Underdevelopment. CDPR Discussion Paper 0498.
  • Yaghmaian, B. (1990) Development Theories and Development Strategies: An Alternative Theoretical Framework, Review of Radical Political Economics, vol. 22, (2-3), 174-188
  • Yılmaz, R. Koray (2011) Türkiye’de Kapitalizmin Gelişme Süreci ve Krizler: Tarihsel Bir Bakış, İktisat Dergisi, 49-63

The Late Capitalist Development in the Context of Internationalization of Capital: A Theoretical Framework

Year 2018, State and Development in the 21st Century, 141 - 166, 28.02.2018
https://doi.org/10.25295/fsecon.2018.s1.005

Abstract

In this study we aim to present a theoretical framework which focuses on the development of capitalism in the late-developed capitalist countries. Therefore, in the first part we shortly but critically dwell on the concept of lateness which is widely used in the development literature. In the second part, we express the internationalization of capital as a “terminus a quo” of the late capitalist development. For this, firstly, the concept of internationalization of capital is discussed basing on Marx’s labour theory of value. We especially dwell on the circuits of capital which is developed in the second volume of Capital. And then some important Marxist scholars’ subsequent approaches are examined. These scholars especially focus on the internationalization of capital and its relation with the late capitalist development. In the last part, the internationalization process of capital is addressed in two complementary periods: “early stage” and “advance stage”. In addition to the detailed analysis of the principal forms of internationalizing capital, we determine the principal capital accumulation forms for late capitalist countries in line with these periods. We depict these forms through capital circuits analysis which was developed by Marx.

References

  • Amin, S (1976) Unequal development: An essay on the social formations of peripheral capitalism. Montly Review Press
  • Amsden, A(1989) Asia’s Next Giant: South Korea and Late Industrialization. Oxford University Press
  • Baer, W and I.Kerstenetzky (1964) Import Substitution and Industrialization of Brazil, The American Economic Review Vol:54, no 3, p.411-425
  • Barr, K (1981) On the Capitalist Enterprise, Reiew of Radical Political Economics, Vol:12, No.4.
  • Bina, C and B. Yaghmaian (1991) Post-war Global Accumulation and the Transnationalisation of Capital. Capital and Class 43, Spring 107-130
  • Bryan, D. (1995) The Internationalisation of Capital and Marxian Value Theory, Cambridge Journal of Economics, Vol. 19, No.3, 421-440
  • Chang, Ha-Joon (2014) Ekonomi Rehberi, Çev. Mihriban Doğan, Say Yayınları
  • Clarke, S (1974) The Development of Capitalism. Perspectives on Work, Welfare and Society. Serial Editor: Ian Clegg, First Publ. Sheed and Ward Ltd.
  • Dore, E (2003) Understanding Capitalism in the Thirld World, p.164-175 In: Ed by Alfredo Saad Filho, Anti-Capitalism: A Marxist Introduction, Pluto Press
  • Ercan, F (2002) Çelişkili Bir Süreklilik Olarak Sermaye Birikimi – I: Türkiye’de Kapitalizmin Gelişme Dinamikleri: Marksist Bir Çerçeve Denemesi, Praksis, Kış, 5,25-77
  • Furtado, C. (1976) Economic Development of Latin America, Historical Backround and Contemporary Problems, Translated by Suzette Macedo, Cambridge University Press, Second Edition.
  • Gerschenkron, A (1962), Economic backwardness in historical perspective, a book of essays, Cambridge, Massachusetts: Belknap Press of Harvard University Press
  • Grabel, Ilene. (1995), Speculation-Led Economic Development: A Post-Keynesian Interpretation of Financial Liberalization Programs In the Third World. International Review of Applied Economics 9 (2): 127–249
  • Heinrich, M (2017) Kapital’e Giriş, Çev. Koray R. Yılmaz, Yordam Kitap, İstanbul.
  • Hoselitz, B. F (1970) Ekonomik Kalkınmanın Sosyolojik Yönleri, Çev: E. T. Çelikkan, Ankara: Yarın Yayınları
  • Markovits, C. (1985) Indian Business and Nationalist Politics 1931-1939, The Indigenous Capitalist Class and the Rise of the Congress Party, Cambridge University Pres.
  • Marx, K (2011) Kapital I, Çev. Mehmet Selik ve Nail Satlıgan, Yordam Kitap, İstanbul
  • Marx, K (2012) Kapital II, Çev. Mehmet Selik, Yordam Kitap, İstanbul
  • Marx, K ve F. Engels (2008) Komünist Manifesto, Yordam Kitap, İstanbul
  • Maxfield, S and J.Nolt (1990) Protectionism and the Internationlisation of Capital: U.S Sponsorship of Import Substitution Industrialization in the Philippines, Turkey and Argentina, International Studies Quarterly, Vol 34, no 1, p. 49-81
  • Nurkse, R. (1953) Problems of Capital Formation in Underdeveloped Countries, Oxford: Basil Blackwell
  • Oğuz, Ş (2005) Reconsidering Globalization as the Internationalization of Capital: Implications for Understanding State Restructuring, Presentation for the panel “State Restructuring and Social Transformation: Confronting Noliberalism” at the Annual Meeting of the Canadian Political Science Association.
  • Palloix, C (1977a) The Self-Expansion of Capital on a World Scale. Review of Radical Political Economics 9:3
  • Palloix, C (1977b) Conceptualizing the Internaionalization of Capital. Translated by Margaret Bald and David Levey, Review of Radical Political Economics 9:17
  • Rosenstein-Rodan, P. N. (1943) Problems of Industrialisation of Eastern and South Eastern Europe The Economic Journal, 53 (210/211): 202-211.
  • Rostow, W. W. (1979) The Stages of Economic Growth, Cambridge: Cambridge University Pres. Second Edition
  • Shaikh, A. (1979) Foreign Trade and the Law of Value: Part I, Science and Society, 43:3, Fall p.281
  • Shin J-S and H-J Chang (2003) Restructuring Korea Inc. Routledge
  • Weeks, J. (1998) The Law of Value and the Analysis of Underdevelopment. CDPR Discussion Paper 0498.
  • Yaghmaian, B. (1990) Development Theories and Development Strategies: An Alternative Theoretical Framework, Review of Radical Political Economics, vol. 22, (2-3), 174-188
  • Yılmaz, R. Koray (2011) Türkiye’de Kapitalizmin Gelişme Süreci ve Krizler: Tarihsel Bir Bakış, İktisat Dergisi, 49-63
There are 31 citations in total.

Details

Primary Language English
Subjects Business Administration
Journal Section Articles
Authors

Koray Yılmaz This is me 0000-0003-2957-2507

Demet Özmen Yılmaz This is me 0000-0003-3291-1071

Publication Date February 28, 2018
Published in Issue Year 2018 State and Development in the 21st Century

Cite

APA Yılmaz, K., & Özmen Yılmaz, D. (2018). The Late Capitalist Development in the Context of Internationalization of Capital: A Theoretical Framework. Fiscaoeconomia, 2(1), 141-166. https://doi.org/10.25295/fsecon.2018.s1.005

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