The policy of import substitution was most vigorously followed by:

Question

Quizplus · Accepted Answer

The policy of import substitution was most vigorously followed by large developing nations during the 1960's. This was a time when many developing nations sought to reduce their dependence on foreign goods and promote domestic production by enacting protectionist policies such as tariffs, subsidies, and government ownership of industries. These policies were meant to create a self-sufficient economy and reduce the outflow of foreign exchange. Import substitution was also seen as a way to promote industrialization and modernization, but the policies ultimately had mixed results and became less popular in the 1980s and 1990s.

The Policy of Import Substitution Was Most Vigorously Followed By