Import-substitution industrialization is based on neo-liberal principles of reduced government protection of industries, fiscal austerity, and privatization.

Question

Quizplus · Accepted Answer

Import-substitution industrialization is a development strategy that involves the use of high tariffs and other forms of government intervention to promote the growth of domestic industries and reduce reliance on imports. It is often associated with state-led economic development and the use of protectionist policies to support domestic industry, which contradicts neo-liberal principles of reduced government protection and privatization. Therefore, the statement is false.

Import-Substitution Industrialization Is Based on Neo-Liberal Principles of Reduced Government