In general, the countries with a preference for planning, regulated markets and public enterprises opted for import substitution, while countries which believed in the merits of market mechanism and private enterprise, concentrated upon the strategy of export- led growth.
Import substitution versus export led growth strategies most literature on industrialisation has attempted to discourse import permutation and export led growing chiefly as a replacement path to industrialisation. The emphasis that countries have placed in their development strategies in favor of either export led growth strategy or import substitution has influenced the evolution of current account balances and growth of output. Import substitution versus export led growth strategies most literature on industrialization has attempted to discuss import substitution and export led growth mainly as a substitute route to industrialization. In the export promotion, primary attention is given to the foreign trade and exports [bruton(1997) p904] basic goal is to maintain domestic economy to open the foreign capital export oriented approach has become popular in last 15 years and many countries has changed their policy from import to export oriented [bruton(1997) p905. Import substitution industrialization (isi) is a trade and economic policy which advocates replacing foreign imports with domestic production isi is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products.
East west university term paper topic : import substitution or export led growth for bangladesh submitted by: ahmed redwan 2012-1-30-028 rituja shome 2012-1-30-037 yasmin islam 2011-3-30-002 submitted to: imrana sharmin senior lecturer dept.
Import substitution and export promotion | economics for various reasons, many ldcs have ignored primary-exports-led growth strategies in favour of import substitution (is) development strategies it seems that the two trade strategies—import substitution and export promotion—are not mutually exclusive they may go hand in hand and.
The history of import substitution the notion of import substitution was popularized in the 1950s and 1960s as a strategy to promote economic independence and development in developing countries (bruton 1998) this initial effort failed due in large part to the relative inefficiency of 3rd world production facilities and as a result their inability to compete in a globalizing marketplace. Export-oriented industrialization (eoi) sometimes called export substitution industrialization (esi), export led industrialization (eli) or export-led growth is a trade and economic policy aiming to speed up the industrialization process of a country by exporting goods for which the nation has a comparative advantage export-led growth implies opening domestic markets to foreign competition in exchange for market access in other countries.