An economic policy and development strategy focusing on the replacement of imports with domestically produced goods, usually accomplished through protectionism, as the route to economic growth. Compare with export oriented strategy. Français: Importation de substitution Español: Sustitución de importaciones
A policy of promoting domestic production of goods that otherwise would be imported. Such programs may involve a combination of domestic subsidies and import restrictions, and are often justified on grounds of conserving foreign exchange. See also infant industry protection.
A strategy for economic development that replaces imports with domestic production. It may be motivated by the infant industry argument, or simply by the desire to mimic the industrial structure of advanced countries. Contrasts with export promotion.
the attempt to reduce imports by producing goods domestically.
a plan by a government to help its country industrialize by encouraging industries in its country to manufacture goods that would otherwise be brought in from other countries
the substitution of domestically produced manufactured goods for imported manufactured goods
A strategy which emphasizes the replacement of imports with domestically produced goods to encourage the development of domestic industry.
when a country (LEDC) tries to produce all its own goods and services in order to limit imports.
An economic development strategy that emphasizes the growth of domestic industries, often by import protection using tariff and nontariff measures. Proponents favor the export of industrial goods over primary products.
A national economic strategy to build up a domestic economy by emphasizing the replacement of imports by domestically produced goods.
An attempt by a country to reduce imports (and hence foreign exchange expenditures) by encouraging the development of domestic industries regardless of domestic inefficiencies.
Import substitution industrialization (also called ISI) is a trade and economic policy based on the premise that a developing country should attempt to substitute products which it imports, mostly finished goods, with locally produced substitutes. The theory is similar to that of mercantilism in that it promotes high exports and minimal imports to increase national wealth.