Concept information
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economics of international business
economic development
international development
economic governance
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international business
economics of international business
economic theories of international business
import substitution
Preferred term
import substitution industrialization
Definition
- Import substitution industrialization (ISI) is an approach to national development based on the notion that conditions in the developing world vary markedly from conditions in the developed world. In an attempt to reconcile some of these differences, ISI relies on strong state intervention to protect developing industries from competition with foreign firms. [Source: Encyclopedia of Geography; Import Substitution Industrialization]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/import_substitution_industrialization
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