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Import substitution development strategy |
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Import substitution development strategyA development strategy followed by many Latin American countries and other LDCs that emphasize import substitution-accomplished through protectionism-as the route to economic growth.Import substitution development strategy Similar MatchesAsset substitutionAsset substitutionOccurs when a firm invests in assets that are riskier than those that the debtholders expected. Constant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Marginal rate of substitutionMarginal rate of substitutionIn a production function or a utility function, the ratio at which one argument (input) substitutes for another along an isoquant or indifference curve. Import substitutionImport substitutionA 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. Substitution swapSubstitution swapA swap in which a money manager exchanges one bond for another bond that is similar in terms of coupon, maturity, and credit quality, but that offers a higher yield. Further SuggestionsSame day substitutionElasticity of substitution No Substitution Substitution effect |
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