Import substitution and export promotion strategies in economic policies of foreign countries

Abstract

In the article, the author considers the basic strategy of economic development that have received wide recognition in the world economy and put into practice in many developing countries and certain regions of developed countries, in particular import substitution strategy and the strategy for stimulating the production of export goods and promoting exports employed in the countries of Latin America and South-East Asia. The theoretical basis of these strategies, their positive and negative aspects are analyzed; the conditions that allow their effective implementation are evaluated.