Category: Industrialization

Table of Contents Introduction Discussion Reasons for Abandoning ISI Conclusion References Introduction Import substitution industrialization (ISI) is a trade and economic policy based on the premise that a country should reduce its dependence on imports through local production of industrial goods (Barrett, 2008, p. 96). Countries that pursue the ISI strategy often implement trade protection…

Industrialization is a significant process that had a crucial impact on the development of society for several centuries. These modifications are associated with the implementation of new technologies. Their primary purpose is to increase the level of productivity in the manufacturing and distribution of goods. It is important to mention that the required result of…