It is widely agreed that import-substitution policies have been a main contributor to above-average growth rates in developing countries.

Question

Quizplus · Accepted Answer

Import-substitution policies, which aim to replace foreign imports with domestic production, have not consistently led to above-average growth rates in developing countries. In many cases, these policies have led to inefficiency, a lack of competitiveness, and economic stagnation.

It Is Widely Agreed That Import-Substitution Policies Have Been a Main