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Successful import-substitution always requires simultaneous export promotion. Analyse and provide at least two examples.
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Trade: Policy Issues 1. Successful import-substitution always requires simultaneous export promotion. Analyse and provide at least two examples. 2. Does trade liberalisation by developing countries help or hinder their industrialisation? Explain with reference to specific country experiences. The aim of this essay is to consider and analyse the policies that a country can pursue in order to restrict or modify its pattern of international trade. One may ask why a country wishes to alter its pattern of international trade rather than leaving market forces and comparative advantage to determine trade patterns. There are, however, several justifiable reasons why a country may wish to pursue such policies. For example the country may wish to develop a new industry or it may wish to break free from the production of primary goods whose inelastic price elasticity of demand is seen to hinder the country's potential rate of growth and development. Three main topics shall be...
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