Import substitution as a complementary strategy
- 3 November 2017
- journal article
- Published by Pleiades Publishing Ltd in Studies on Russian Economic Development
- Vol. 28 (6), 593-599
- https://doi.org/10.1134/s1075700717060028
Abstract
Import substitution policy in various countries is often used not as an alternative, but rather as a complement to export promotion policy. The article shows that, without such a complement, the outward-oriented strategy is often incapable of ensuring economic growth. The work is based on an analysis of a wide range of the literature on the relationship between export orientation and economic growth, as well as on applying elements of the import substitution strategy in various countries.Keywords
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