The ISI model called for economic development but under state guidance, leadership, direction, and control. The statist model was preferred for several reasons: (1) suspicions of foreign capital and companies after long year of colonial exploitation; (2) the influence of socialist ideas and ideologies among the political leaders of developing nations; (3) absence of one of the key ingredients of economic growth, a dynamic entrepreneurial group or bourgeoisie; and (4) fear that losing control of the economy to the private marketplace might also result tin these authoritarian regimes losing control of the political marketplace (i.e., yielding to pluralism and democracy)