INTD 200 - Less emphasis on redistribution Favored foreign...

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INTD 200 September 17, 2009 - Origins of development : - Import substitution and industrialization ISI - 1. Heavy industrialization - 2. Tariffs, trade quotas, and quantitative trade restrictions; 3. sometimes driven by military/ strategic aims, with the notable exception of Latin America, where these imperatives were relatively weak. 4. Agricultural sector to provide “surplus” for investments in industry; 5. Planning and policy interventions to deal with market-based problems However, lack of consensus on: 1. Role of foreign investment. 2. The role of private sector 3. The distribution of public ownership in various sectors 4. Exchange rate, fiscal, and monetary policy 5. Policies towards agricultural sector 6. Redistributive policies Varieties of ISI - Stat capitalism/ developmentalism (Argentina, Brazail., South KoreA)
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Unformatted text preview: Less emphasis on redistribution Favored foreign investment Encouraged the private sector-State som/populism (mexico, India, Tanzania) Emphasis on heavy industry – transportation, power, chemicals etc Suspicious of foreign capital Tolerated small-and medium-scale private enterprise Reserved “major means of production” (which could be many-not just oil) for state enterprises High regulation/ control of economic activity Sought redistribution through taxation-Result of ISI Suffers from trade pessimism Changes/alter economic structure of countries Share of industries It doesn’t change the trade structure...
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