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| | International Economics Glossary: I |
 | | The requirement that imports be authorized by a special agency before entering a country, similar to import licensing. | | | A measure of the importance of imports in the domestic economy, either by sector or overall, usually defined as the value of imports divided by the value of apparent consumption. | | | The quantity or value of all that is imported into a country. |
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http://www-personal.umich.edu/~alandear/glossary/i.html
(4035 words)
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| | Chapter 10 Krugman Summary & Homework |
| | Many economists are now harshly critical of the results of import substitution, arguing that it has fostered high-cost, inefficient production. | | | Government policy to promote industrialization has often been justified by the infant industry argument, which says that new industries need a temporary period of protection from competition from established competitors in other countries. | | | Most developing countries are characterized by economic dualism: A high-wage, capital-intensive industrial sector coexists with a low-wage traditional sector. |
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http://www.cba.nau.edu/eastwood-j/eco486/krugch10.htm
(894 words)
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| | Andes, LARR, c 2 |
| | The extent to which the recommendations were translated into actual imports turned on decisions by the U.S. Board of Economic Warfare (later the Foreign Economic Administration) which in issuing export licenses took account of the supply situation in the U.S., the availability of transport and the state of the war. | | | Widespread import substituting industrialization was simply not on the agenda and could not take place without access to the necessary imported capital equipment. | | | Data on changes in the share of the major producer goods imports procured from the United States by Chile in 1939 and 1945 provide a rough gauge of the substantially increased importance of U.S. goods for both new investment and the maintenance of existing output (see Table 3). |
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http://icesuite.com/mf/mf/andes.html
(4036 words)
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| | Book reviews, Monthly Labor Review Online, December 2000 |
| | The need to import raw materials also eventually caused indebtedness to rise, such that up to 50 percent of export earnings had (and has) to be used to pay off debt. | | | However, the development of their internal markets was thwarted by low incomes, a factor which was evidently aggravated by government exploitation of peasantry to accumulate the capital needed for the strategy. | | | But the "redistributionist" and developmental policies of the Peron regime and its military and democratic successors could not be pursued without some hyperinflationary results and deep budgetary deficits. |
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http://www.bls.gov/opub/mlr/2000/12/bookrevs.htm
(1272 words)
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| | Part One: Policy and Programme Concerns |
| | Planners believed increasing industrial output was the path to higher standards of living, and public investment in social development, such as in health and education, was often modest and usually biased in favour of the urban elites. | | | By applying such barriers broadly to the industrial sector, it was perceived that inducements were established for balanced growth in that sector, with important complementarities or pecuniary externalities, both in terms of the supplies of intermediate inputs and demands for final products ("backward and forward linkages"). | | | In many developing countries, multi-sector planning models based on Leontieff fixed-coefficient input-output technologies were developed and widely-used to determine sectoral primary factor requirements, physical capital investments, import substitution possibilities and "non-competitive imports" (i.e., those not producible in the home economy except at extraordinary costs) for given target final demands or growth rates in those demands. |
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http://www.un.org/popin/unfpa/pubs/thebook/sect3.html
(17128 words)
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| | Changing perceptions of development -DAWN - Business; August 8, 2005 |
| | Complementarities between industries on the supply as well as demand sides meant that, in an economy largely closed to foreign trade, ‘balanced’ investment in a number of activities has to be planned and because of indivisibilities, the quantum of investment will be large. | | | These in turn meant that spontaneous industrialization through private initiatives responding to market signals would not come about so that the state had to play a major role in the process and this role would involve regulation of the market economy through control of prices, production, credit, domestic and foreign trade. | | | The prospects of foreign trade were seen to be limited for two reasons: First, traditional exports could only be increased by decreasing cost, because their price relative to those of imports i.e. |
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http://www.dawn.com/2005/08/08/ebr10.htm
(1047 words)
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| | Fads and Fashion in Economic Reforms: Washington Consensus or Washington Confusion? - Moises Naim - Paper prepared for ... |
| | Therefore, the Washington Consensus' prescription that government-imposed barriers to imports and exports, to foreign investment, and to foreign currency transactions had to be lifted was sharply at odds with the long-held conviction that developing countries had to protect their economies from an unfair and exploitative international system rigged against them. | | | This resulted in high import barriers, restrictions to the entry of foreign firms, the selection of specific industrial sectors as "national champions" to which massive subsidies and trade protection was accorded. | | | The fact that in the early 1990s investment returns in the industrialized countries were not as high as they became later in the decade pushed a wave of money overseas, some of it towards the countries that had enacted reforms to pull private foreign capital in. |
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http://www.imf.org/external/pubs/ft/seminar/1999/reforms/Naim.HTM
(11691 words)
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| | l'express |
| | As far as import substituting industries are concerned, liberalization and globalization confront them with constantly falling tariffs resulting from multilateral and regional trade negotiations. | | | For all its being dubbed a “development round” the Doha agenda continues to be dominated by issues of concern to the biggest trading blocks as has been amply proved by events in Cancun at the end of last year. | | | One must not forget, however, that even before the EPZ concept was introduced in Mauritius – we had embarked on an import substituting industrialization process. |
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http://www.lexpress.mu/display_article_sup.php?news_id=16549
(1442 words)
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| | oc31a |
| | However, with the infusion of substantial foreign aid, which financed from a half to two-thirds of total investment, the pace of industrial investment kept rising steadily. | | | The growth in nonagricultural employment is linked to the growth in income in agriculture as the latter stimulates demand for output and labor in the nonagricultural sector. | | | No doubt small-scale activities in the unorganized sector and export-oriented industries are expected to generate more employment than similar activities at the large scale. |
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http://hdr.undp.org/docs/publications/ocational_papers/oc31a.htm
(10535 words)
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| | Overvaluation Hurts--Learning From Others’ Mistakes |
| | Productivity advances are less rapid because the export sectors and the import competing sectors are disadvantaged by an overvalued exchange rate, and it is in these sectors that productivity advances are often most rapid. | | | Because exporters receive relatively less in domestic currency for the foreign currency they earn, and a significant portion of the costs of production are paid in domestic currency, exporters have reduced incentives and ability to compete in foreign markets. | | | As a result, less foreign exchange is available to finance imports. |
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http://www.worldbank.org/html/prddr/trans/marapr99/pg11box.htm
(588 words)
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| | [No title] |
| | That is, reforms that boost inputs purchased from nonfarm sectors (for exam- the relative profitability of the industries previously ple, because of import taxes on these goods): they discouraged by the government's trade-restrictive then buy less of those inputs in relation to other policies tend to be welfare enhancing. | | | Such many of the behind-the-border regulatory issues practitioners will be in ministries of trade, industry, that confront countries in the contexts of both and finance; parliaments; private sector associations domestic reform and international negotiations. | | | More broadly, openness was achieved not through import liberalization (of increases the premium on institutions of conflict which there was little), but through export subsi- management (Rodrik 1999). |
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http://www-wds.worldbank.org/servlet/WDSContentServer/WDSP/IB/2004/08/19/000160016_20040819140633/Rendered/INDEX/297990018213149971x.txt
(11523 words)
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| | industrialization -- Encyclopædia Britannica |
| | A planned economy was to be introduced with, as its first task, the direction of all possible resources into intensive industrialization. | | | The process of industrialization occurs in stages through which every nation passes. | | | How or why some agrarian societies have evolved into industrial states is not always fully understood. |
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http://www.britannica.com/eb/article-9042374
(697 words)
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| | Speech: Economists, Policy Reform, and Political Economy |
| | Thus privatization may well jeopardize the interests of the workers and/or managers who expect to lose their jobs, however great the benefits may be to the public finances, the consumers, and even those workers and managers who keep their jobs. | | | Higher prices for electric power and greater cost recovery in water are strongly resisted by their immediate beneficiaries, although in these cases it may be possible to persuade people that higher prices are worthwhile if the link can be established in the public mind to improved service quality. | | | The case for such reforms often seems so overwhelming to us economists, on both efficiency and equity grounds, that we have trouble in comprehending why we need to argue the case rather than just identify what needs to be done. |
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http://www.iie.com/publications/papers/paper.cfm?ResearchId=327
(1928 words)
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| | 13 Trade Policies for Countries in Transition and Developing Countries |
| | Third, it is probably useful for the government to have poor ability to raise revenues using more broadly based taxes, so that tariff revenues are important to the government budget. | | | If there are net national gains, they are likely to be largest in the first years after the export tax is imposed, before the monopoly power of the country is eroded (in ways shown in the discussion of an international cartel). | | | Or, these revenues can be used to subsidize infant industries that can develop into mature, internationally competitive industries in the future. |
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http://www.wright.edu/~tran.dung/Chapter_13_Pugel.htm
(2592 words)
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| | Import-Substituting Industrialization |
| | Because of those same policies, industry tended to make heavy use of imported capital goods and raw materials. | | | At the same time, tighter monetary policies induced a recession, which caused commodity prices to fall The stage was set, then, for the Debt Crisis, which struck Latin America in 1982. | | | Exports of primary commodities diminished due to policies (see above) that diminished relative prices received by farmers, miners, and other producers of those commodities. |
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http://www-agecon.ag.ohio-state.edu/class/ISH240/Southgate/import_substituting_industrialization.htm
(499 words)
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| | HARTMUT ELSENHANS |
| | The rent used in import substituting industrialization as a counterpart for labour employed in investment goods production and infrastructural projects is now used in export-oriented manufacturing for cutting down international labour costs to levels where this labour can no longer buy its necessities from the world market. | | | Conservatives did not expect the massive reduction of this category of the population as they considered the industrialization process as limited also in the future. | | | 61 Low labour costs are less the consequence of low real wages but of labour incomes being spent not on imported goods at world market prices but on much cheaper locally produced wage goods. |
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http://www.isanet.org/noarchive/elsenhans.html
(10288 words)
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| | [No title] |
| | -Eventually, industrial workers want increased salaries, investors want increased profits, government wants to spend less money, and consumers want to spend less on manufactured goods
these things can’t be made compatible, except if the government decides to print “enough money for everyone”—for its own spending and for everyone else’s demands. | | | Of course, if industrialization had been a “good business deal,” enterprising investors would have tried it without any need for government support. | | | “Import-substituting industrialization,” not to sell those products abroad but in one’s own country, was the only way to have economic security. |
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http://www.personal.psu.edu/staff/r/j/rjs27/h179_ind_pop.doc
(1120 words)
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| | Quiz |
| | The fact that every dollar paid for imports has to be gained as export revenue or borrowed. | | | It could be a good idea if there are high start-up costs in the industry that is to be protected. | | | Developing countries that pursued this policy did not catch up much in terms of per capita income. |
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http://wps.aw.com/aw_krgmnobstf_interecon_7/0,10540,2078549-content,00.utf8.html
(531 words)
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| | A Strategy For Cutting Hunger in Africa-commissioned paper by Jerome Wolgin |
| | As a result, either governments developed policies and programs aimed at maintaining their political base (and in Africa this frequently meant using the government as a system for dispensing economic and political favors in ways that undermined good governance) or they developed policies and programs based on deeply flawed economic and political paradigms. | | | Such investment, except in extractive industries, is unlikely to come forth when there are high levels of inflation. | | | Africa is going to require increasing levels of private investment (current levels are less than 10% of GDP), both foreign and domestic. |
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http://www.aec.msu.edu/AGECON/fs2/africanhunger/wolgin_eng6.htm
(7720 words)
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| | Import Substituting Industrialization |
| | A country’s process of development is often linked to the shift from primary products to industry. | | | Instead of abandoning the policies at this stage, many nations tried to foster regional economic integration and planning. | | | At the same time, policies such as trade credit, and depreciated exchange rates encouraged exports. |
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http://www-agecon.ag.ohio-state.edu/class/aede438/banerjee/notes_4.htm
(1262 words)
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| | IDRC Reports 1997 (January - December) |
| | Certainly prosperity from trade, greater possibilities for indigenous industrialization, cultural enrichment, and lower costs of services such as education, health, telecommunications, and transport. | | | The tool for industrialization was the nation state. | | | But countries sharing technology, educational facilities, and infrastructure can open markets to each other to encourage industrialization. |
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http://idrinfo.idrc.ca/Archive/ReportsINTRA/pdfs/1997e/112519.htm
(1910 words)
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| | Latin American Economic Development |
| | We will evaluate Latin American development policies ranging from the import-substituting industrialization policies of the 1950s-1970s to the market-oriented reforms of the 1980s to the present. | | | We will apply economic principles (and make use of historical narratives and case studie) to understand the roots of balance of payments difficulties, exchange rate and debt crises, hyperinflation, dollarization, and geographical and income inequalities throughout the region. | | | We will assess the aid and advice offered, and the constraints imposed, by multilateral institutions including the IMF, World Bank, and Inter-American Development Bank. |
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http://academic.bowdoin.edu/courses/f03/econ226/syllabus
(1432 words)
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| | Costa Rica: Policies and Conditions for Export Diversification |
| | An indication of the structural change taking place is that the share of research and development intensive activities has increased in the industrial sector total production. | | | Tourism has also risen, which is explained in part by fiscal incentives. | | | In the context of an import substituting industrialization and subregional integration, exports grew at increasingly higher rates through the sixties and seventies; but the severe external debt crisis in the early eighties led to export stagnation. |
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http://www.eldis.org/static/DOC7014.htm
(568 words)
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| | Re: Argentina and the US (some corrections) |
| | On the other hand, import substitution was attempted during the 30s under an oligarchic regime which was not at all interested in a revolutionary modification of the dependent status. | | | The resulting problems > (which also came from the World Depression) encouraged Peronism and > anti-Peronism, neither of which were especially good for the Argentine > economy. | | | However, the effort seems to have > been too late (since the technological gap was larger by then) and the > Argentine economy had less of an internal market than the US. |
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http://www.mail-archive.com/pen-l@galaxy.csuchico.edu/msg45581.html
(485 words)
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| | Populism in Latin American |
| | Market Reforms and the Demise of Import-Substituting Industrialization
| | | •The state would establish alliances with the private sector to foster strategic industrialization | | | •Import-Substituting Industrialization was predicated on the idea that Latin American nations needed to break their dependence from international commodity cycles
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http://www.udel.edu/poscir/jcarrion/p450/market1_files/slide0004.htm
(93 words)
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| | National The Telegraph - Weekly (Nepal) |
| | A policy of high import tariffs and concessional credit lines to favor industry were adopted whereas while agriculture sector was highly taxed both explicitly-export taxes- and implicitly low import tariffs overhauled exchange rates. | | | Low prices make it harder for producers in developing countries to compete in their home markets, as well as in international markets, thus reducing incentives for production and retarding the development of agriculture sector. | | | The central focus during the 1950's and 1960's was on industrialization; agriculture was considered to a large extent just a supporting activity that supplied the labor, resource and food needed in industry. |
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http://www.nepalnews.com/contents/englishweekly/telegraph/2001/nov/nov28/national.htm
(847 words)
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| | Import Substitution Industrialization |
| | The policy had three major tenets: active industrial policy, protective barriers to trade, and monetary policy that kept the domestic currency overvalued. | | | The theory was popularised by Argentine economist and UNECLA head Raúl Prebisch in the 1950s, and was subscribed to by many Latin American countries. | | | The policy was very successful from the 1950s to the 1970s in creating economic growth in Latin American countries. |
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http://www.worldhistory.com/wiki/I/Import-Substitution-Industrialization.htm
(289 words)
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| | The Heart of the Matter? Public Enterprise and the Adjustment Process |
| | Partial liberation of SOEs requires managers to adjust to markets while continuing to adjust to bureaucratically determined investment, inputs, and foreign exchange, which may be the worst of both worlds. | | | Secondly, in Turkey and Mexico, governments have moved resolutely toward export-led growth, deregulation, and privatization. |
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http://wbln0018.worldbank.org/Network/PREM/PREMDocLib.nsf/da461c58dad5446c852566c9007ba34f/69cdc2f40fdda0688525676f00547239
(281 words)
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| | [No title] |
| | Its current limits are precisely those that led to the crisis of ISI: a restricted internal market due to highly unequal income distribution, and high costs of imported inputs. | | | A recent technical report complained of the lack of a Chilean computer industry to develop and market appropriate software, a complaint which speaks volumes about what has already been accomplished. | | | Although some croplands have been replanted with orchards and vineyards, the nutritional deficiencies of the Chilean poor--estimates put them at 30% to 40% of the population--have more to do with the extreme skewness of income distribution than with insufficient land to devote to food crops. |
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http://www.etext.org/Politics/World.Systems/papers/goldfrank_walter_l/world_market_&_agrarian_change_in_chile
(3152 words)
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| | Brazilian Meat Production - ThePoultrySite.com, specialists in Poultry |
| | On the world market, these products have managed to remain very competitively priced, particularly as feed cost volatility in Brazil appears to have stabilized. | | | The industry is vertically integrated, with the top four companies dominating export trade, accounting for over half of all of Brazilian poultry exports. | | | The meat sector in particular is regarded as an important channel for valued-added exports. |
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http://www.thepoultrysite.com/FeaturedArticle/FATopic.asp?Display=191
(725 words)
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| | [No title] |
| | Most economists have been skeptical about the importance of such policies because: HPAEs have followed a wide variety of policies, but achieved similarly high growth rates. | | | ‘ ¨ R ó ¨$ Export-Oriented Industrialization: ? ¡ % % ¨ Industrial Policy in the HPAEs Several of the highly successful economies have pursued industrial policies (from tariffs to government support for research and development) that favor particular industries over others. | | | The actual impact on industrial structure may not have been large. |
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http://www.econ.ubc.ca/nmalhotra/lectures/tradepolicyindevelopingcty.ppt
(814 words)
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| | Review Sheet for Midterm |
| | LEAD TO: lost productivity, Loss of Tourism and Export profits | | | Air (Congestion, vehicular and industrial emissions and poorly ventilated houses) |
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http://www.fordham.edu/economics/alexander/ecrg3210/Review.htm
(259 words)
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| | POL 10004, Lecture 19 |
| | State monopoly of foreign exchange (to keep currency value high) | | | State seeks to develop industries to produce for domestic market | | | Great Depression requires developing states to turn inward |
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http://www.personal.kent.edu/~abarnes3/Pol10004/handouts/Lec19-outline.html
(45 words)
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| | Roles of Agriculture Project International Conference 20-22 October, 2003 Rome, Italy (SMEALSearch) - ... |
| | From the 1930s to 1970s, public policies were designed following the development model of import substituting industrialization. | | | This model emphasized in the industrial development in detriment of the rural producers as public policies encouraged investment, infrastructure, and subsidies in urban centers. | | | In the DR the share of agriculture in GDP has declined steadily from 23 percent in 1970 to 13 percent in 1997 while the share of employment in agriculture has simultaneously declined from 45 percent to 20 percent during the same period. |
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http://gunther.smeal.psu.edu/31982.html
(276 words)
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| | Powell's Books - An Economic History of Twentieth-Century Latin America (St Antony's Series) by Enrique Cardenas |
| | This book attempts a fresh look at the controversial years between the end of the Second World War and the point when, at varying dates in different countries, a discontinuity occurs in which the post-war "style of development" ceased to play a central role in the economic evolution of the region. | | | Industrialization and the State in Latin America: The Postwar Years | | | In the 1990s, "protection," "import substitution," and "intervention" have become dirty words, part of the "leyenda negra" of Latin America development in the post-war period. |
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http://www.powells.com/biblio?isbn=0333633423
(297 words)
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| | An Economic History of Twentieth-Century Latin America, Vol. 2 |
| | Import Substitution, Economic Integration and the Development of Central America 1950-80 | | | The Process of Accelerated Industrialization in Mexico, 1929-82 | | | ECLA and the Theory of Import Substituting Industrialization in Latin America |
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http://www.zooscape.com/cgi-bin/maitred/WhitePulp/isbn0333633415
(408 words)
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| | Political Science 251 |
| | Industry and Trade in Some Developing Countries: A Comparative Study. | | | Henry Bruton, "Import Substitution" from Handbook of Development Economics, Volume II. | | | Albert O. Hirschman, "The Political Economy of Import-Substituting Industrialization in Latin America" from A Bias for Hope: Essays on Development and Latin America (New Haven: Yale University Press, 1971). |
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http://www.polisci.ucla.edu/faculty/lofchie/poli251.htm
(1845 words)
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| | [No title] |
| | Why we can say that the level of industrial interventionism is much higher in Japan then in the United States? | | | Make up a numerical example to show why the US banana lovers may not be hurt as badly as Canadian banana lovers when both countries impose import tariff on imported fruit. | | | Is there any connection between the product life cycle and the trade model by Heckscher - Ohlin? |
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http://www47.homepage.villanova.edu/miron.wolnicki/inecofinprob2000.doc
(431 words)
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| | General and Brief Comments on |
| | 8 of Hirschman's "Political Economy of Import-Substituting Industrialization" | | | Ways in which late late industrialization has been different from late industrialization | | | how is ISI different from other types of industrialization? |
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http://www2.kenyon.edu/Depts/PSci/Psci47/isi.htm
(88 words)
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