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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. No SubstitutionNo SubstitutionWithin the text on a proxy card are the words: "The shareholder appoints certain people (collectively, the proxy committee) with full power of substitution to vote the shares." If the security holder strikes out this phrase, the proxy cannot be voted if there is a change in the designated proxy committee. Elasticity of substitutionElasticity of substitutionThe elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). With competitive demands, this is also the elasticity with respect to their price ratio. For example, with factors L,K and factor prices w,r, the elasticity of substitution of a production function F(K,L) is s = (wL/rK)d(K/L)/d(w/r). Further SuggestionsSubstitution effectSubstitution swap Same day substitution Import substitution |
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