Exam 6: Trade and Development I: Import Substitution Industrialization

The structuralist critique of the market provided a compelling justification for state-led strategies of industrialization primarily because of

Explain how and why governments transferred the costs of import substitution industrialization to agriculture in developing countries.

According to the Singer-Prebisch theory developing countries trying to industrialize would find it much easier by participating in a GATT-based trade system

Agriculture in Latin America (as a percent of GDP)has

Agriculture in East Asia & the Pacific (as a percent of GDP)has

The New International Economic Order (NIEO),according to Oatley,represented a new attempt by developing countries

Export substitution strategy is one

Explain the importance of terms of trade in Singer-Prebisch theory.Has research confirmed these hypotheses?

Backward linkages arise when

According to structuralists in the post WWII era,markets in developing countries would not naturally reallocate sufficient resources from agriculture to manufacturing because they were still dominated by export-oriented agricultural interests.

The United Nations Conference on Trade and Development (UNCTAD)was established in 1964 as a

According to Oatley,the benefits of ISI were transferred from

Discuss the successes and failures of the NIEO reforms suggested by the Group of 77 in the 1970s.

Explain the coordination problems identified by structuralist theory and the suggested remedies for government intervention.

The primary reason why developing countries,like those in Latin America,were so intent on industrialization was because most governments believed that

Developing governments' belief that industrialization would not occur in their countries if they participated in the GATT-based system played an important role in shaping their trade and development policies.

Improvement in a country's terms of trade means that

The income elasticity of demand is the degree to which

The GSP agreements agreed to by advanced industrial countries in the late 1960s were of limited importance because they used limited quotas of goods that could enter under preferential tariff rates.

The problem of complementary demand means that in subsistence agricultural economy,trying to establish a manufacturing economy meant