ABSTRACT
Until 1930, the development of Argentinian industry went hand in hand with the general expansion of the economy, and even supported it, but never governed it. The international crisis of 1930 marked the beginning of a new period in Argentinian economic development, a period characterized by the dynamic role of industry. The transition from one stage of Argentinian industrialization to another was conditioned by certain external factors. In 1963, US investments in the manufacturing industry represented 61 percent of all US investment in Argentina, and this orientation of foreign capital toward the more capital-intensive branches of industry had had a significant effect on the configuration of capital accumulation. From World War I to the middle of the 1950s, the amount of foreign investment was quantitatively of little importance. From a qualitative point of view, the impact of the investments was very great, as the change in the orientation of foreign investments occurred while industrialization was leading the country's economic development.
