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A Reconsideration of Import Substitution

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  • Bruton, H.J.
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    Abstract

    One of the earliest general strategies of development that directly involves international transactions is that usuallly called import substitution. This paper studies the import substitution story -why and how it came to be -and the rise of the outward-oriented approach (a contrary approach to import substitution) -why and how it came to be and -temporarily at least- to win the battle between the two approaches. Then it examines the dounts that have arisen with respect to the latter approach, and the nature of the new tensions that now exist with respect to an appropriate trade strategy.

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    Bibliographic Info

    Paper provided by Department of Economics, Williams College in its series Center for Development Economics with number 156.

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    Length: 33 pages
    Date of creation: 1998
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    Handle: RePEc:wil:wilcde:156

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    Keywords: IMPORTS ; TRADE ; ECONOMIC DEVELOPMENT;

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