import substitution
Definition
Government strategy that emphasizes replacement of some agricultural or industrial imports to encourage local production for local consumption, rather than producing for export markets. Import substitutes are meant to generate employment, reduce foreign exchange demand, stimulate innovation, and make the country self-reliant in critical areas such as food, defense, and advanced technology.
import substitution is in the Banking, Commerce & Finance, Economics, Politics, & Society and Industries, Manufacturing, & Technology subjects.
import substitution appears in the definition of the following term: market access
This content can be found on the following page:
http://www.businessdictionary.com/definition/import-substitution.html
email to a friend
print this definition
cite this definition
link to this page
