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Journal articles on the topic 'Import Substitution Industrialisation'
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1
Adewale, Aregbeshola R. "Does Import Substitution Industrialisation Strategy Hurt Growth?: New Evidence from Brazil and South Africa." African and Asian Studies 11, no. 3 (2012): 288–314. http://dx.doi.org/10.1163/15692108-12341235.
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Abstract More economies have sprung up through home-grown import substitution industrialisation (ISI) strategy in the developing world as compared to those that have plummeted by adopting the prescripts of the Washington Consensus. The recurring economic and financial crises, essentially the 2008/2009 experiences, present another perspective for macroeconomic policy embracement. For instance, major economies, especially those of the United States and the countries in the European Union, jettisoned their neoliberal ideology for protectionist measures in dealing with the 2008/2009 financial and economic turbulence. This lends credence to a rethink of macroeconomic policies for the less developed and developing economies. Using data generated from the World Development Indicators (WDI), an organ of the World Bank, in regression analyses, this article argues that the macroeconomic policy of import-substitution industrialisation contributed to the current economic developments in Brazil and South Africa. The article suggests that an import-substitution industrialisation policy is not only appropriate to galvanise industrialisation in less industrialised economies, but also augments a sustainable economic growth.
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Stoneman, Colin. "The Industrialisation of Zimbabwe - Past, Present and Future." Afrika Focus 6, no. 3-4 (January 26, 1990): 245–66. http://dx.doi.org/10.1163/2031356x-0060304008.
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In this paper I look at Zimbabwe’s moderately successful industrialisation experience, past, present and future. The lessons that can be drawn from this experience in comparison with what has happened in other countries, both more and less succesful are: that there is a need for an intelligent state role; that both import substitution and export substitution are necessary; that emphasis on industry need not and must not be mean neglect of agriculture; and that the key problem is how to avoid enclave industrialisation which services urban elites but neglects the rest of the country and the region.
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Adewale, Aregbeshola R. "Import substitution industrialisation and economic growth – Evidence from the group of BRICS countries." Future Business Journal 3, no. 2 (December 2017): 138–58. http://dx.doi.org/10.1016/j.fbj.2017.06.001.
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Qadir, Usman. "Analysing the National Tariff Policy." Pakistan Development Review 59, no. 1 (July 9, 2020): 143–49. http://dx.doi.org/10.30541/v59i1pp.143-149.
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What is the role of import tariffs in a modern economy? Tariffs may seem an easy source of revenue, but they do have real consequences for the economy. The use of tariffs makes imported goods more expensive. It can be used as a means to prevent the exchange rate from fully adjusting to market value reducing incentives for export while increasing incentives for import substitution. Tariff policy can thus affect the product mix of country, including its direction of industrialisation, which in the complex globalised world of today determines its place in the global value chain.
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Abdul-Aziz, Shahrun Nizam, Normala Zulkifli, Norimah Rambeli@Ramli, Noor Al-Huda Abdul Karim, Zainizam Zakariya, and Norasibah Abdul Jalil. "The Determinations of East Asia’s Automobile Trade Using a Gravity Model." Research in World Economy 10, no. 5 (December 24, 2019): 113. http://dx.doi.org/10.5430/rwe.v10n5p113.
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The aim of this study is to investigate empirically the factors that determine the level of automobile trade in East Asian countries by taking into account government policies as well as the role of MNEs. To do so, in this study we include dummies of import substitution industrialisation (ISI) and export orientation industrialisation (EOI) policies as well as Japanese FDI as additional explanatory variables in our augmented gravity models. We found that GDPs, distance, per capita income, FTA, government policies, language and FDI are the determinants for the development of automobile industry in each country in East Asia. In the case of auto P&C, apart from economic size, the role of government through trade policy (i.e., FTA) and industrial policies as well as the role of MNCs are the major contributors to the development both exports and imports of East Asian countries. In the case of final automobiles, the role of FTA and language seems to be unimportant. Nonetheless, the role of government policies and MNCs seem to be important.
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Quddus, Muhammad A., and Ikram Saeed. "An Analysis of Exports and Growth in Pakistan." Pakistan Development Review 44, no. 4II (December 1, 2005): 921–37. http://dx.doi.org/10.30541/v44i4iipp.921-937.
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Trade is presumed to act as a catalyst of economic growth and the growth in exports leads to increase in the incomes of factors of production, which in turn increases the demand for input for further expansion in production. The resultant pressure on domestic capacity may stimulate technological change and investment opportunities. Also increase in demand due to raising incomes of the factors of production on account of exports may spill over into other sectors of the economy. A part of such growths could also be diffused abroad through technical assistance and aid. According to Emery (1967) empirically proved that higher rates of exports growth leads to higher economic growth. Traditionally, a developing country had the choice of two alternative trade strategies for supporting industrial development, export promotion or import substitution. A consensus has emerged among many development economists that an export expansion policy by permitting resource exploitation according to comparative advantage and by allowing for utilisation and exploitation of economies of scale leads to higher growth rates of output and employment, greater technological progress and availability of foreign exchange. These in turn enable the countries with export oriented policies to attain higher rates of growth of GNP vis-à-vis countries following import substituting industrialisation [Donges and Muller-Ohlsen (1978)].
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Little, Ian M. D. "Trade and Industrialisation Revisited (The Iqbal Memorial Lecture)." Pakistan Development Review 33, no. 4I (December 1, 1994): 359–89. http://dx.doi.org/10.30541/v33i4ipp.359-389.
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In 1970 the book Industry and Trade in Some Developing Countries by myself, Tibor Scitovsky and Maurice Scott was published (referred to henceforth as LSS). It exposed the bad effects of the import substitution policies which had been the prevailing mode of industrialisation in developing countries for a long time. It advocated the elimination of quotas and a uniform tariff of 10-15 percent. The exchange rate should be adjusted to ensure that exports were competitive. If any industry was, exceptionally, to receive more promotion than that implied by the low tariff, this should be by some form of subsidisation which should not exceed another 10-15 percent of domestic value-added. LSS is, I believe, still the most quoted work on the subject. l It was quite closely related in theory to the methods of cost-benefit analysis proposed by Little and Mirrlees (1974) (referred to henceforth as LM). While the influence of LSS on the development literature was extensive, neither it nor LM would seem to have had any influence whatever on the policies of most developing countries for a decade. This is, perhaps, the normal fate of policyoriented books. Korea and Taiwan continued with the export policies they had already initiated. Admittedly these policies eliminated the bias against exports inherent in protective policies, a bias that LSS had castigated. But Korea, and to a lesser extent Taiwan, also reverted in the 1970s to the selective promotion of some mainly capital intensive industries (referred to as Heavy and Chemical Industiies (HCI) in Korea) producing tradables. In Korea, towards the end of the 1970s, it is possible that LSS played some part in the modification of the HCI drive. But only in Chile was the policy of a low uniform tariff, as advocated by LSS, wholly adopted. Chile has stuck to this policy.
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Manzetti, Luigi. "The Evolution of Agricultural Interest Groups in Argentina." Journal of Latin American Studies 24, no. 3 (October 1992): 585–616. http://dx.doi.org/10.1017/s0022216x00024287.
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Argentina's history has been profoundly influenced by the development of its agriculture. It was through the exportation of beef and grain that the country experienced spectacular economic growth between 1880 and 1930. Historically, agricultural and agro-industrial production have made up between 70 and 80% of export earnings.1 As a consequence, the sector's dominant interest group during that period, the Argentine Rural Society (Sociedad Rural Argentina – SRA) acquired enormous economic power, which led to political clout as many of its members went on to become presidents of the republic and to staff the most important ministries. Because of the political influence so attained the SRA was soon referred to as one of the key factores de poder, or power holders, along with the military, the Church and, later on, labour. This hegemony came to an end in the mid-1940s when industrialisation replaced agriculture as the main contributor to the nation's Gross Domestic Product (GDP), and when Peronism removed the landowning elite from control of the levers of power. The agricultural sector continued to take a backseat among the priorities of most of the administrations following Perón's downfall in 1955, because the future of Argentina was perceived to rest upon the promotion of import substitution industrialisation. Agricultural interest groups were never again able to gain the same kind of access to economic policy-making as they had once enjoyed. To make matters worse, the whole rural sector was forced to finance the state-led industrialisation process through a variety of direct and indirect government taxes.
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Brando, Carlos Andrés. "Winners and losers in the allocation of credit during the era of import-substitution industrialisation in Colombia, 1940–1967." Ensayos sobre Política Económica 34, no. 79 (April 2016): 21–39. http://dx.doi.org/10.1016/j.espe.2015.11.002.
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Ariffin, Rohanna. "Changing Employment Structures and Their Effects on Industrial Relations in Malaysia." Economic and Labour Relations Review 8, no. 1 (June 1997): 44–56. http://dx.doi.org/10.1177/103530469700800104.
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This paper describes the various stages of industrialisation through which Malaysia has passed, beginning with import substitution in the 1960s, export-oriented industries of the 1970s to heavy industries in the 1980s. The public sector, which used to employ a substantial percentage of the labour force and a high percentage of ethnic Malays, has been reduced as a result of the government's decision to corporatise and privatise many of its agencies. However, as more Malays have began working in the industrial sector, a new phenomena of an emerging Malay proletariat alongside the non-Malays has become evident. They now form more than half of the union leadership and are strongly represented among skilled workers. Whether the government will become more liberal with its laws and policies towards unions in the future is uncertain, as the democratic process in Malaysia has yet to gain a firm hold.
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Teng, Yue. "EDUCATIONAL INEQUALITY AND ITS DETERMINANTS: EVIDENCE FOR WOMEN IN NINE LATIN AMERICAN COUNTRIES, 1950s-1990s." Revista de Historia Económica / Journal of Iberian and Latin American Economic History 37, no. 3 (April 29, 2019): 409–41. http://dx.doi.org/10.1017/s0212610919000107.
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ABSTRACTThis paper examines educational inequality in nine Latin American countries at the sub-country level from the 1950s to the 1990s. Educational inequality is measured by the difference in schooling years between the taller and the shorter half of the female population. Schooling years significantly increased across birth cohorts, especially before the 1980s, regardless of socio-economic stratum, region or country. However, educational inequality persisted. This finding reflects the achievement of the import substitution industrialisation era in educational development and its failure in mitigating the unequal distribution of education rooted in Latin America's social structure. Trade liberalisation and educational expansion are found to reduce educational inequality in capital and urban regions, whereas democracy and tax reform increased it. By contrast, educational inequality in rural regions was hardly influenced by policy changes. This finding urges future explorations into whether the persistence of educational inequality in rural regions is due to endemic social structure.
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BELINI, CLAUDIO. "Industrial Exports and Peronist Economic Policies in Post-War Argentina." Journal of Latin American Studies 44, no. 2 (May 2012): 285–317. http://dx.doi.org/10.1017/s0022216x12000016.
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AbstractThis article studies the growth and decline of Argentine exports of manufactured goods during the 1940s and 1950s. In a context that was favourable due to the global scarcity of manufactured goods, Argentine industry managed to sell its products in several foreign markets, especially in Latin America, during the Second World War. In the post-war period, however, exports declined and returned to the levels of the 1930s. After 1950 the Peronist administration again tried to stimulate exports through the use of various incentives, but they did not revive. The article examines the reasons for this decline, the role played by the economic, commercial and industrial policies of the Peronist era, and the problems that Argentine industry faced in remaining competitive. Based on this analysis, the paper questions the interpretation that argues that exporting manufactured goods was a viable path for development for import substitution industrialisation countries in the post-war world. In this respect the paper contributes to the discussion of different paths towards economic development in Latin America.
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Etchemendy, Sebastián. "The Politics of Popular Coalitions: Unions and Territorial Social Movements in Post-Neoliberal Latin America (2000–15)." Journal of Latin American Studies 52, no. 1 (October 21, 2019): 157–88. http://dx.doi.org/10.1017/s0022216x19001007.
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AbstractAt a general level of neoliberal repudiation or expansion of social policies, most post-neoliberal Latin American governments in the 2000s have exhibited similarities. However, coalitions with popular actors have displayed a lot of variation. In order to compare popular-sector coalitions the article constructs a framework with two central dimensions: electoral and organisational/interest; in post-import substitution industrialisation (ISI) Latin America the latter is composed of both unions and territorial social movements (TSMs). It contends that the region witnessed four types of popular coalitions: electoral (Ecuador and Chile), TSM-based (i.e. made up of informal sector-based organisations, Venezuela and Bolivia), dual (i.e. composed of both unions and TSMs, Argentina and Brazil) and union/party-based (Uruguay). The study argues that government–union coalitions are largely accounted for by the relative size of the formal economy, and by the institutional legacies of labour based-parties. Coalitions with informal sector-based organisations are rooted in the political activation of these TSMs during the anti-neoliberal struggles of the 1990s and early 2000s.
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Ahmed, Qazi Masood, Mohammad Sabihuddin Butt, and Shaista Alam. "Economic Growth, Export, and External Debt Causality: The Case of Asian Countries." Pakistan Development Review 39, no. 4II (December 1, 2000): 591–608. http://dx.doi.org/10.30541/v39i4iipp.591-608.
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The issue of how developing countries can accelerate their economic growth is of crucial importance. The two primary alternative routes to development are inward-oriented growth strategies, which emphasises import-substitution industrialisation (ISI); and outward-oriented policies, which emphasises the economic benefits of participation in the world economy, that is, export-led growth (ELG). The late 1960s and 1970s witnessed a disillusionment with ISI in many developing countries, leading to a reduction in protectionist measures. The 1980s witnessed further intensification of liberalisation measures as many countries retreated from socialism, regulation and planning. The dis-advantages of ISI, the potential strength of ELG policies and the conditions necessary for successful transition from an inwardoriented regimes to an outward oriented have been extensively researched1 and beyond the scope of the present study. Moreover many of the rapidly growing newly industrialising countries (NICs) lend support to the idea that export promotion can be an effective development strategy. Naturally such a line of causation is consistent with macroeconomic theory, where exports are treated as injections into the economy [Kaldor (1967); Feder (1982); Romer (1989); Krueger (1990) and Marin (1992)]
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Shaw, Timothy M. "Peripheral Social Formations in the New Division of Labour: African States in the Mid-1980s." Journal of Modern African Studies 24, no. 3 (September 1986): 489–508. http://dx.doi.org/10.1017/s0022278x00007138.
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If the study of the foreign policies of underdeveloped countries is underdeveloped, the systematic analysis of their foreign policy decisions is not. It is simply nonexistent. – Bahgat Korany, 1984 1The first half of the 1980s has posed new challenges for African foreign policy in practice and analysis, symbolised by the Ethiopian drought and the conflict in Southern Africa, but generalised in the continental crisis of negative growth. The halcyon days of the 1960s – the innocence and optimism of early African nationalism – have long since disappeared, obliterated by the global and regional shocks of the 1970s. The first independence decade coincided with a period of gradual economic expansion – as it turned out, the continent's last. The years since the mid-1970s – the end of the post-war Bretton Woods era – have been characterised by slow growth at best, for a minority of states, and by none for the majority of countries and peoples. Thus the African agenda has shifted dramatically from nation-building to -salvaging, and from import-substitution to de-industrialisation. Somewhat fanciful notions of regional and continental integration have been replaced by pragmatic imperatives of food aid and debt relief.
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Ahmed, Hamna, and Farah Said. "Determinants of Export Performance in the Wake of the Global Financial Crisis: Evidence from South Asia." Pakistan Development Review 51, no. 4II (December 1, 2012): 227–43. http://dx.doi.org/10.30541/v51i4iipp.227-243.
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The idea that trade is important for economic growth dates back to the nineteenth century when classical economists like Adam Smith, Ricardo, John Stuart Mill etc. advocated the favourable effects of international trade on output. Since then a rich body of both theoretical and empirical literature has evolved with regards to exports and trade policy. Within this overall literature, two competing approaches that can be broadly identified are Import Substitution industrialisation (IS) and Export-Led (EL) growth. According to the EL growth hypothesis, exports can promote economic growth through three main channels that are as follows: (i) trade enables firms (at the micro level) and countries (at the macro level) to gain through specialisation and economies of scale. The most efficient producers witness increasing market shares, that in turn lead to aggregate productivity gains through a reallocation of resources [Taylor (1981) and Melitz (2003)], (ii) Exports are an important source of foreign exchange. These resources are important not just for the purchase of vital inputs such as capital and machinery but are extremely valuable where balance of payments constraints are widespread [Faridi (2012)]. (iii) Trade is an important source of knowledge and technological transfers. New growth theory has shown that trade with technologically innovative countries allows access to the technological know-how of trading partners, and also has the potential of encouraging innovative activity by increasing the returns to innovate as traders have access to a larger market relative to non-trading firms.
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Webber, Jeffery R. "Latin American Neostructuralism: The Contradictions of Post-Neoliberal Development, Fernando Ignacio Leiva, Minneapolis: University of Minnesota Press, 2008." Historical Materialism 18, no. 3 (2010): 208–29. http://dx.doi.org/10.1163/156920610x532299.
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AbstractThis review-essay offers an extended engagement with Fernando Ignacio Leiva’s Latin American Neostructuralism, one of the most important contributions to contemporary Latin-American political economy. It situates Leiva’s critique of neostructuralism against the wider backdrop of Latin America’s contradictory turn to the Left since the late 1990s, and compares the treatments of change in Latin-American capitalism over the course of the twentieth and early twenty-first centuries developed by the schools of classical structuralism, neostructuralism, and neoliberalism. The essay finds that Leiva’s critique of neostructuralism and his explanation for its influence on large segments of the region’s Left is the best work on the topic currently available in English. Leiva systematically demolishes neostructuralism’s claim to be a progressive alternative to neoliberalism. At the same time, it is argued that Leiva’s theoretical framework is compromised by its uncritical adoption of categories from French regulation-theory, and its nostalgia for elements of classical structuralism and its associated development-model of import-substitution industrialisation. Further, it is found that Leiva’s implicit attachment to certain myths propagated by the Marxism of the Second and, especially, Third Internationals regarding the national bourgeoisie’s role in Third-World capitalist development leaves him unduly dogmatic about the necessity, and unduly optimistic about the possibility, of building a progressive stage of capitalism in Latin America today. The same mythologies prevent Leiva from drawing the appropriate conclusions as regards the urgent necessity of rebuilding the socialist project in Latin America and internationally.
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Thorp, Rosemary. "A Reappraisal of the Origins of Import-Substituting Industrialisation 1930–1950." Journal of Latin American Studies 24, S1 (March 1992): 181–95. http://dx.doi.org/10.1017/s0022216x0002383x.
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The current enthusiasm for trade liberalisation in Latin America, and indeed for a broad-ranging return to the market, has as its backdrop the widespread disillusion with the protectionist model of the 1950s and 1960s. Import substituting industrialisation (ISI) is seen as having used tariff barriers and controls to generate an extremely inefficient industry, suffering under a weight of state bureaucracy, with often inappropriate direct state participation. Its excessive import needs, for all its import-substituting origin, are directly related to the generation of the debt crisis.1 The high and poorly-structured tariffs brought tariff-hopping foreign investment on inappropriate terms. Repressed domestic interest rates allowed such firms to borrow locally at negative real rates and crowd out locals who then borrowed abroad. This inefficiency, plus the overvalued exchange rates implicit in heavy protection, made exports of manufactures unthinkable, and thus condemned the incipient industry to severe limitations of market size as well as condemning the economies to growing balance of payments non-viability. This in turn severely affected industrial progress by limiting growth and exposing firms to stop-go policies.In turn, ISI policies themselves are seen as having originated with the turning point of the 1929 depression, when the export-led growth mechanism essentially broke down and at least the more sizeable Latin American economies turned fatally inwards. The trajectory from 1930 to the ‘fully-fledged’ ISI model of the 1950s and 1960s is typically left vague.This article will attempt to show that recent research now allows us a much fuller and more nuanced view of the evolution from the export economy model of the early century through to the later ISI model.2
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Moyano, Eduardo. "From import substituting industrialisation to export‐led development: Chile 1974 ‐ 1994." South African Journal of International Affairs 3, no. 2 (January 1995): 173–85. http://dx.doi.org/10.1080/10220469509545168.
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BEATTY, EDWARD. "The Impact of Foreign Trade on the Mexican Economy: Terms of Trade and the Rise of Industry 1880–1923." Journal of Latin American Studies 32, no. 2 (May 2000): 399–433. http://dx.doi.org/10.1017/s0022216x00005794.
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This article uses both new and published data on Mexico's foreign trade to measure terms of trade and to investigate the relationship between trade and the early growth of domestic industry. This analysis yields five conclusions: (1) Mexican terms of trade declined, largely due to the dramatic fall in the price of silver; (2) the growing diversity of Mexican exports significantly cushioned the short-term impact of silver depreciation; (3) declining terms of trade did not characterise the entire era, but instead were concentrated in two periods: 1891–97 and 1912–21; (4) although net barter terms of trade declined, Mexico's capacity to import – measured by the income terms of trade – improved markedly, and (5) this proved absolutely crucial in financing the concurrent process of incipient import-substituting industrialisation. In other words, the Porfiriato witnessed a development process in which trade growth and the spread of domestic manufacturing were highly complementary. Without the former, industrialisation would have been severely handicapped.
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Salvatore, Ricardo D. "NET NUTRITION INEQUALITY IN ARGENTINA, 1875–1950: NEW EVIDENCE AND SOME CONJECTURES." Revista de Historia Económica / Journal of Iberian and Latin American Economic History 37, no. 2 (May 14, 2019): 339–76. http://dx.doi.org/10.1017/s0212610919000016.
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ABSTRACTUsing the coefficient of variations for heights, this paper examines the evolution of net nutrition inequality in Argentina from 1875 to 1950. It uses various samples of recruits and soldiers, previously gathered by the author. Evidence points to two important findings: (a) export-led growth led to stable or declining net-nutrition inequality; while import-substituting industrialisation generated significant net nutrition inequality; and (b) the highest levels of inequality in net nutrition took place during this latter phase in large urban, industrialised areas.
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TAFUNELL, XAVIER. "On the Origins of ISI: The Latin American Cement Industry, 1900–30." Journal of Latin American Studies 39, no. 2 (May 2007): 299–328. http://dx.doi.org/10.1017/s0022216x07002398.
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This article explores the achievements of industrialisation in Latin America in the period before 1930, the date traditionally considered to be the start of the ISI process. It analyses the development of a basic industrial sector, the cement industry, which was driven by a natural substitution of imports. It quantifies the expansion of demand in each of the countries in the region, and then moves on to consider the growth of the industry in Latin America in the period between 1900 and 1930. Although cement consumption grew briskly, particularly in the most underdeveloped economies, disparities in levels of consumption and production among countries in the region continued to be very great in 1930, while the gap between Latin America and the most industrialised economies grew slightly.
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Hojman, David E. "The Political Economy of Recent Conversions to Market Economics in Latin America." Journal of Latin American Studies 26, no. 1 (February 1994): 191–219. http://dx.doi.org/10.1017/s0022216x00018897.
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The objective of this article is to attempt to explain why free market open economy policies (FMOEP) have become so popular in Latin America in the 1990s. There are six possible major explanatory factors: (i) lessons learnt from the debt crisis and its immediate aftermath, (ii) more highly qualified technocrats, (iii) development of an entrepreneurial middle class, (iv) exhaustion of import substituting industrialisation, (v) a combination of tax reform, financial modernisation and export diversification, and (vi) a favourable public opinion. Yet none of these factors by itself was a sufficient condition for FMOEP; necessary factors were different from country to country, and the nature of the interaction between two or more factors was different in each country.
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Mahmood, Zafar, and Mohammad Ali Qasim. "Foreign Trade Regime and Savings in Pakistan." Pakistan Development Review 31, no. 4II (December 1, 1992): 883–93. http://dx.doi.org/10.30541/v31i4iipp.883-893.
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Without generating high growth rates of national income, a country cannot make a sustained attack on poverty, unemployment, and other economic problems. Developing countries have, generally, pursued the goal of rapid economic growth with the help of industrialisation. In this regard, an optimal structure of the industries enables a country to experience 'sustainable' economic growth. Countries adopt various trade strategies to allocate resources to their optimal use in order to exploit their industrial potential. Developing countries, including Pakistan, have adopted the import -substituting (IS) trade strategy to foster industrialisation.1 But the disillusionment with the IS strategy and its results is increasing over time. Contributing to this trend is the remarkable increases in growth rates by many countries that have shifted to an export-promoting (EP) trade strategy. At the same time came a fundamental question of the adequacy of economic growth itself. That is to what extent the economic growth under the IS strategy has given rise to the unfavourable results with respect to employment, capital accumulation, and income distribution. Analysis of these effects presents a tall order and we do not go that far in their evaluation. In this study we restrict ourselves to the question how various trade regimes are related with savings. The nature of this relation is somewhat complex.
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Barry, Frank, and Mícheál Ó Fathartaigh. "The Industrial Development Authority, 1949–58: establishment, evolution and expansion of influence." Irish Historical Studies 39, no. 155 (May 2015): 460–78. http://dx.doi.org/10.1017/ihs.2014.4.
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Abstract Established in 1949 in the face of Fianna Fáil hostility, and greeted with suspicion by both the department of Industry and Commerce and the department of Finance, the Industrial Development Authority within ten years had carved out a powerful position for itself within the bureaucracy. By the early 1950s, while Seán Lemass was still wedded to the concept of import-substituting industrialisation, the I.D.A. was formulating its vision for ‘industrialisation by invitation’ and lobbying internally for the introduction of export profits tax relief. The adoption of this measure in 1956 initiated the low corporation-tax regime that remains in place to this day. Though frequently conflated, the reorientation of industrial policy in the 1950s and the dismantling of tariff barriers in the 1960s were quite separate initiatives. That the establishment of the I.D.A. and the adoption of export profits tax relief were opposed by the department of Finance and enacted by inter-party governments clearly distinguishes them from the later trade-liberalisation initiative associated with the partnership of T. K. Whitaker and Lemass. The present paper explores the circumstances surrounding the establishment of the I.D.A. and traces its evolution and expanding influence over the first ten years of its existence.
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Devlin, Anna, and Frank Barry. "Protection Versus Free Trade in the Free State Era: The Finance Attitude." Irish Economic and Social History 46, no. 1 (June 18, 2019): 3–21. http://dx.doi.org/10.1177/0332489319853703.
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Belief in the benefits of industrial protection had long been a cornerstone of nationalist ideology. Cumann na nGaedheal followed a policy of selective protection while Fianna Fáil was ideologically committed not just to import-substituting industrialisation but to as high a degree of self-sufficiency as possible. The Departments of Finance and Industry and Commerce differed sharply on the costs and benefits of trade restrictions. This article explores the perspective of the Department of Finance and in particular that of J. J. McElligott, Assistant Secretary from 1923 and Secretary of the Department from 1927 to 1953. It demonstrates the strong continuity between his position and that of T. K. Whitaker, who became Secretary in 1956 and whose 1958 report on Economic Development is widely credited with providing the intellectual foundation for the trade liberalisation process of the following decades.
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Khan, Azizur Rahman. "Globalisation, Liberalisation, and Equitable Growth: Lessons from Contemporary Asian Experience." Pakistan Development Review 36, no. 4II (December 1, 1997): 915–28. http://dx.doi.org/10.30541/v36i4iipp.915-928.
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Since the beginning of the 1980s the less developed countries (LDCs) have been getting integrated with the global economy at a rapidly accelerating rate. The impetus for the process came from the need to make adjustment in the unsustainable imbalance in the external account that most of these countries experienced in the aftermath of the oil shocks of the 1970s and the declining demand for their exports due to the recession in the OECD countries during the 1980s. Many of these countries had to subject themselves to structural adjustment programmes at the behest of the multilateral donor agencies, led by the World Bank and the International Monetary Fund, who emphasised the urgency of reforming the protectionist trade regimes of these countries. Simultaneously, these countries came to realise the inefficiency of resource use fostered by their past strategy of import-substituting industrialisation (ISI) characterised by a trade and investment regime that enshrined overvalued exchange rates, quantitative import controls, high and non-uniform rates of effective protection, discrimination against export and strong impediments to foreign direct investment.
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Naqvi, Syed Nawab Haider. "The Idea of Inclusive Growth and Development Policy." Pakistan Development Review 51, no. 1 (March 1, 2012): 1–21. http://dx.doi.org/10.30541/v51i1pp.1-21.
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This paper explores the idea of Inclusive Growth as it has evolved over time since the Industrial Revolution in the West, and in the developing countries since 1950, when development economics and development policy were officially born. It is defined as a policy that deliberately seeks to achieve concurrently a dynamic relationship between the growth of per capita income, the distribution of income and the level of poverty in a growing society. The active pursuit of this three-pronged objective must, therefore, be the basic aim of development policy. Experience shows that this relationship, though generally true, is by no means automatic, nor is it amenable to quick fixes. The main premise of the present paper is that without inclusive growth the standard of living of a people cannot be raised on a permanent basis. The paper argues that to succeed in grasping the Holy Grail will require a major rethinking of development policies to guide developing countries along a high-growth trajectory. In particular, development policies that the fast-growers (especially the miracle-growers of East Asia and now China) have pursued must also form part of the policy-packages of developing countries together with measures to promote high rates of saving to finance the investment requirements of a fast-growing economy, and government-supported import-substituting industrialisation, among others. Yet, the policies of the fast-growers need not be imitated blindly. But they should be adjusted to take into account new knowledge about the development process. To institutionalise growth on a long-term basis, governments must also prepare a new social contract to lay firm foundations of a dynamic society based on social justice; which, in turn, requires a creative synergy of economic, political and social forces at work in the society.
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Stoneman, Colin. "The Industrialisation of Zimbabwe - Past, Present and Future." Afrika Focus 6, no. 3-4 (September 14, 1990). http://dx.doi.org/10.21825/af.v6i3-4.6126.
Full textAbstract:
In this paper I look at Zimbabwe's moderately successful industrialisation experienHce, past, present and future. The lessons that can be drawn from this experience in comparison with what has happened in other countries, both more and less succesful, are: that there is a need for an intelligent state role; that both import substitution and export substitution are necessary; that emphasis on industry need not and must not be mean neglect of agriculture; and that the key problem is how to avoid enclave industrialisation which services urban elites but neglects the rest of the country and the region.
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Bikoue, Simeon Maxime. "The Problems of Africa’s Industrialization Substitution Strategy and Reformation Needs." South Asian Journal of Social Studies and Economics, September 22, 2020, 44–54. http://dx.doi.org/10.9734/sajsse/2020/v7i430199.
Full textAbstract:
This study showed that industrialisation by substitution of imports has been a failure in Africa and has made industries in this part of the world less competitive on the foreign market. As such, a different industrialisation strategy which in the context of globalisation of economies and the fierce competition of the international market reinforces the competitiveness of African countries. This new strategy was translated amongst others by the appropriation of new technologies, protection of infant industries, cloning of manufactured products imported out of Africa, regional integration and the culture of exporting manufactured products.