An Appraisal of The Import Substitution Strategy from A Structural Economic Dynamic Approach
AbstractThis paper seeks to establish that a Structural Economic Dynamic (SED) approach toward understanding the Import Substitution Strategy (ISS) offers a superior method relative to the Neoclassical approach. It is argued that the latter fails to fully account for the role of demand and hence, the structural dynamics of underdeveloped economies, when considering the shortcomings of the ISS. Argued as relatively superior to the Neoclassical view, the SED approach considers the evolution of preferences as a variable driving change, shedding new light on main channels of North-South interdependence.
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Bibliographic InfoArticle provided by Weissberg Publishing in its journal Economic Research Guardian.
Volume (Year): 1 (2011)
Issue (Month): 2 (December)
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Structural Economic Dynamics; Uneven Development; Import Substitution Strategy; Technical Progress; Engel’s Law;
Other versions of this item:
- Ricardo Azevedo Araujo & Joanílio Rodolpho Teixeira, 2010. "An Appraisal of the Import Substitution Strategy from a Structural Economic Dynamic Approach," Working papers - Textos para Discussao do Departamento de Economia da Universidade de Brasilia 331, Departamento de Economia da Universidade de Brasilia.
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
- F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
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