The Rise and Fall of Import Substitution / Douglas A. Irwin.

Format:

Book

Author/Creator:

Irwin, Douglas A.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w27919.

NBER working paper series no. w27919

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2020.

Summary:

In the 1950s, many economists believed that import substitution - policies to restrict imports of manufactured goods - was the best trade strategy to promote industrialization and economic growth in developing countries. By the mid-1960s, there was widespread disenchantment with the results of such policies, even among its proponents. This paper traces the rise and fall of import substitution as a development idea. Perhaps surprisingly, early advocates of import substitution were quite cautious in their support for the policy and were also among the first to question it based on evidence derived from country experiences.

Notes:

Print version record

October 2020.