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Import Substitution
Part 1 of Paper
....rst and second stage. Assess its
effectiveness in promoting economic development. Compare inward looking and
outward looking strategies and discuss the assertion that the latter is superior.
The First Stage of Import Substitution:
All present day industrial and developing countries protect their
manufacturing indust.... Part 2 of Paper
....on in the replacement of the imports of non-durable consumer goods
(clothing, shoes, household goods, textile fabrics, leather, wood and other
types of inputs) since these commodities exist in the developing countries that
are at the initial frontier of industrialization.
The commodities I mentioned are intensive in unskilled labor, the scale
of output is relatively low, and costs do not rise substantially at lower output
levels. The production of the commodities do not involve the use of
sophi.... |
| Number of words: 580 - Approximate pages: 3 |
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