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Import Substitution
Beginning of paper
Describe (Inward looking) developmental strategy, clearly
outlining the differences between the first 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 ....
Middle of paper
....eloping 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
sophisticated technology or highly educated workers and.... |
| Word count: 580 |
Page count: 3 |
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