Inward-Looking Industrialization “aka” Import-Substitution Industrialization (ISI) – Part Two
Import-Substitution industrialization has very pronounced flaws, most of which have manifested in African countries. The concept of import-substitution industrialization has been around since the 18th century but grew popular in the wake of the flurry of countries attaining independence around the world from the 1950s to the 1970s. It hit its high-water mark in the […]