UDC 338.24.01+339.9; JEL F15
Koval, L. (2020). Pros and cons of import substitution strategies. In Sotsial'no-ekonomichni problemy suchasnoho periodu Ukrayiny [Socio-Economic Problems of the Modern Period of Ukraine]: Vol. 145 (5) (pp. 9-12). DOI: https://doi.org/10.36818/2071-4653-2020-5-2.
Sources: 3

Authors



Koval Lyudmyla Pylypivna

Ph.D. of Economics, Associate Professor

Senior Researcher of the Department of problems of the real sector of regions' economy of the Dolishniy Institute of Regional Research of NAS of Ukraine

Contacts: lyudmylakoval11@gmail.com, myla_k@ukr.net

Webpages:

Resume

The article analyzes the experience of countries that have used different import substitution strategies, identifies the positive and negative consequences. Particular attention is paid to the study of theoretical aspects of the problem of import substitution in the economic development strategy implementation. On the basis of the conducted researches the directions of import substitution strategies introduction in modern conditions are outlined. Based on the study, the following prerequisites for the successful import substitution policy implementation are identified: justification of the product groups set, import substitution of which is appropriate and cost-effective for the state and society in the long perspective; the instruments of import substitution policy, in particular the prevalence of restrictive instruments (tariffs, quotas, taxation, etc.) in order to protect the national producer and stimulate investment measures to stimulate innovative economic development.

Keywords:

import substitution, domestic market capacity, national economy growth

References


1. Roberts, J. M. (2017, Apr 24). Import substitution made countries such as Argentina poorer. The Washington Times: Website. Retrieved from https://www.washingtontimes.com/news/2017/apr/24/import-substitution-made-countries-such-as-argenti/
2. Ha-Joon Chang (2002, Sep 4). Kicking away the ladder. Post-autistic economics review, 15, article 3. Retrieved from http://www.paecon.net/PAEtexts/Chang1.htm
3. Bruton, H. J. (1969). The import-substitution strategy of economic development: A survey of findings. Williams College.