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Department
Political Science
Course
POLB90H3
Professor
R Rice
Semester
Fall

Description
State vs Marketled Development strategiesImport substitution industrializationStrategy of development based on manufacturing goods domestically that were previously importedGovt took control over industrialization by imposing tariffs on foreign goodsThis is mean t to boost local productionAt the same time they imposed quotas on how much can be importedThat raises the price of imported goodsTax incentives and low interest loans and subsidies to domestic industries to allow them to have a market at homeMerit of this approachPolitically popular because it creates a lot of jobs and low prices for domestic goods in the short term Improves social and economic indicatorsForm of economic independence It cuts ties with the north It is supposed to go against dependency theoryEstablishes a manufacturing base that was not there beforeLimits of controlled economic modelIt loses momentum quicklyInitially very suc
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