What are Import-Substitution Industrialization (ISI) and Export-Oriented Industrialization (EOI)? Why do countries place such importance on industrializing?...

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What are Import-Substitution Industrialization (ISI) andExport-Oriented Industrialization (EOI)? Why do countries placesuch importance on industrializing? What are the main instrumentsand institutions that characterize each approach? What are theirmain differences? In what regions of the world were each primarilyimplemented? How does each approach shape the interests of domesticfirms and institutions? Which has proven to be more successful?

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Import substitution industrialization ISI is a trade and economic policy which advocates domestic goods and services over foreign imports It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products This See Answer

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