What is trade strategies export promotion versus import substitution?
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Most economists and policymakers view LDCs as consisting of large“traditional” and “modern” sectors. Hence development has come to be seen as a process of contracting the traditional sector and its growth-retarding institutions in favour of a growing modern industrial sector.
Less developed countries (LDCs) have adopted two alternative strategies for achieving industrialisation— viz., inward-looking strategy and outward-looking strategy.
Less developed countries (LDCs) have adopted two alternative strategies for achieving industrialisation— viz., inward-looking strategy and outward-looking strategy.
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