Evidence shows that countries that have endorsed a policy of import substitution have been successful in its development efforts.

Question

Quizplus · Accepted Answer

There is evidence that import substitution policies have not been successful in promoting long-term economic growth and development. Many countries that pursued import substitution policies faced challenges such as declining exports, high levels of debt, and insufficient investment in technology and innovation. Instead, countries that have focused on exports, attracted foreign investment, and pursued economic liberalization have generally experienced greater success in economic growth and development.

Evidence Shows That Countries That Have Endorsed a Policy of Import