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Concessions as a Modernizing Strategy in the Dominican Republic

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  • Veeser, Cyrus

Abstract

In the late 1800s, Latin American modernizers faced major obstacles to economic growth. In the Dominican Republic, elites embraced concessions as a policy to attract foreign capital to infrastructure, industry, and cash-crop agriculture. In contrast to Mexico, where concessions were public and impersonal but failed to create viable firms, Dominican concessions were public, yet corrupt, formally opposed to monopoly, yet prone to convey exclusive privileges. Dominican modernizers recognized that concessions created “monopolies that are always a hateful tyranny,†yet found no better way to attract investment. Only after the United States took control of Dominican finances in 1905 were the “burdensome†contracts canceled as an “impediment to future progress.â€

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  • Veeser, Cyrus, 2009. "Concessions as a Modernizing Strategy in the Dominican Republic," Business History Review, Cambridge University Press, vol. 83(4), pages 731-758, January.
    • Handle: RePEc:cup:buhirw:v:83:y:2009:i:04:p:731-758_00
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    Cited by:

    1. Teresa da Silva Lopes & Mark Casson & Geoffrey Jones, 2019. "Organizational innovation in the multinational enterprise: Internalization theory and business history," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(8), pages 1338-1358, October.

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