Home > Term: import substitution
import substitution
A strategy for economic development that replaces imports with domestic production. It may be motivated by the infant industry argument, or simply by the desire to mimic the industrial structure of advanced countries. Contrasts with export promotion.
- Part of Speech: noun
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
0
Creator
- Noroc
- 100% positive feedback