What is an industrialization of imports?

Industrialization of the substitution of imports, or ISI, is a program of economic development in which relying on imports into a particular nation is subordinate to the development of local industries in this nation. This theory has been put into practice by developing nations throughout the 20th century. In response to economic inferiority towards nations with significant industrial production. By producing produced goods locally for local consumption, the industrialization of imports has to ensure job opportunities to its citizens, reducing relying to foreign countries in favor of or self -confidence and strengthening innovations. Methods used to stimulate this change in focus include protective tariffs and import quotas. These developing nations suffered from the World War II because industrial countries spent more time for war needs than they did for exports. Moreover, the prices of natural products that have been specializing in the developing nations have fallen.

because of this puzzle, the concept of industrialization of the importation of imports tried to fight nARODY. By strengthening industrial infrastructure, these countries would no longer be subject to the circumstances and whims of the countries they imported. They could also grow their own economy in this process by creating substitutes for the imports they usually relied on.

In order to achieve targets importing industrialization, countries had to perform practices that would limit the number of imports and also discouraged the export of locally produced products. Import taxes have been stored to reduce local products than those brought from other countries. Import quotas were also placed in an effort to stimulate local production and prevent more than a limited number of a particular product to be imported. Governments in developing countries also brought ISI by regulating foreign trade, which helped improve the value of the currency.

Many larger developing countries such as Brazil and India have been successful in doing industrialization procedures IMPOlip replacing and gain the economic independence that the system was designed. In some cases, there was also some negative fallout from ISI. Given that the technology for the production of an improved industry often came from industrial nations that held patents in this technology, costly repayments of the license fees often intended the intended economic support. The supposed employment in countries using ISI often did not take place, and there was a growing urbanization in these countries, as workers have moved to whites to find new jobs and leave rural areas that would suffer from comparison.