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Import substitution |
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Import 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.Similar MatchesMarginal 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. Same day substitutionSame day substitutionOffsetting changes in a margin account during the day that result in no overall change in the balance of the account. Import substitution development strategyImport 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. 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. 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 SuggestionsConstant elasticity of substitution functionSubstitution effect Asset substitution Elasticity of substitution |
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