Towards a theory of import substitution exchange rates and economic development / Vinay Bharat-Ram.

Format:

Book

Author/Creator:

Bharat-Ram, Vinay, 1936-

Language:

English

Subjects (All):

Import substitution--India.

Foreign exchange--India.

Foreign exchange.

Import substitution.

India.

Technological innovations--Economic aspects--India.

Technological innovations--Economic aspects.

Economic development.

Physical Description:

xxvi, 199 pages : illustrations ; 25 cm

Edition:

Third edition.

Place of Publication:

Delhi ; New York : Oxford University Press, 1993.

Summary:

Based on the idea that foreign exchange shortages provide the key impetus to import substitution, this study reveals the fundamental relationship between technological progress and the scarcity of foreign exchange. The author relates technological advancement to the progressive replacement of imported elements in the production process with domestically manufactured ones, a process that requires skills as well as capital. The problem is examined at the macro level and, interestingly, also at the micro level where firms are shown to incorporate the shadow prices of foreign exchange in their production function.

Notes:

Previous ed.: 1987.

Includes bibliographical references (pages [189]-196) and index.

ISBN:

0195633148 :

OCLC:

29221572