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Materiale didattico per il corso di Economia Internazionale del prof. Alireza Jay Naghavi. Trattasi di slides in lingua inglese a cura del docente, all'interno delle quali sono affrontati i seguenti argomenti: la politica commerciale nei paesi in via di sviluppo; lo sviluppo dell'industria e l'industrializzazione import-substituting;... Vedi di più

Esame di Economia internazionale docente Prof. A. Naghavi

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Introduction

There is a great diversity among the developing

countries in terms of their income per capita.

Why are some countries so much poorer than others?

• For about 30 years after World War II trade policies in

many developing countries were strongly influenced

by the belief that the key to economic development

was creation of a strong manufacturing sector.

– The best way to create a strong manufacturing sector

was by protecting domestic manufacturers from

international competition.

Copyright © 2003 Pearson Education, Inc. Slide 10-3

Introduction

Table 10-1: Gross Domestic Product Per Capita, 1999 (dollars)

Copyright © 2003 Pearson Education, Inc. Slide 10-4

Import-Substituting Industrialization

From World War II until the 1970s many developing

countries attempted to accelerate their development

by limiting imports of manufactured goods to foster a

manufacturing sector serving the domestic market.

The most important economic argument for

protecting manufacturing industries is the infant

industry argument.

Copyright © 2003 Pearson Education, Inc. Slide 10-5

Import-Substituting Industrialization

The Infant Industry Argument

• It states that developing countries have a potential

comparative advantage in manufacturing and they can

realize that potential through an initial period of

protection.

• It implies that it is a good idea to use tariffs or import

quotas as temporary measures to get industrialization

started.

– Example: The U.S. and Germany had high tariff rates

th

on manufacturing in the 19 century, while Japan had

extensive import controls until the 1970s.

Copyright © 2003 Pearson Education, Inc. Slide 10-6

Import-Substituting Industrialization

Problems with the Infant Industry Argument

• It is not always good to try to move today into the

industries that will have a comparative advantage in

the future.

– Example: In the 1980s South Korea became an exporter

of automobiles, whereas in the 1960s its capital and

skilled labor were still very scarce.

• Protecting manufacturing does no good unless the

protection itself helps make industry competitive.

– Example: Pakistan and India have protected their heavy

manufacturing sectors for decades and have recently

begun to develop significant exports of light

manufactures like textiles.

Copyright © 2003 Pearson Education, Inc. Slide 10-7

Import-Substituting Industrialization

Market Failure Justifications for Infant Industry

Protection

• Two market failures are identified as reasons why

infant industry protection may be a good idea:

– Imperfect capital markets justification

– If a developing country does not have a set of financial

institutions that would allow savings from traditional sectors

(such as agriculture) to be used to finance investment in new

sectors (such as manufacturing), then growth of new industries

will be restricted.

– Appropriability argument

– Firms in a new industry generate social benefits for which they

are not compensated (e.g. start-up costs of adapting

technology).

Copyright © 2003 Pearson Education, Inc. Slide 10-8

Import-Substituting Industrialization

Promoting Manufacturing Through Protection

• Import-substituting industrialization

– The strategy of encouraging domestic industry by

limiting imports of manufactured goods

– Many less-developed countries have pursued this strategy.

• Has import-substituting industrialization promoted

economic development?

– Many economists are now harshly critical of the results

of import substitution, arguing that it has fostered high-

cost, inefficient production

.

Copyright © 2003 Pearson Education, Inc. Slide 10-9

Import-Substituting Industrialization

• Why not encourage both import substitution and

exports?

– A tariff that reduces imports also necessarily reduces

exports.

– Until the 1970s many developing countries were

skeptical about the possibility of exporting

manufactured goods.

– In many cases, import-substituting industrialization

policies dovetailed naturally with existing political

biases.

Copyright © 2003 Pearson Education, Inc. Slide 10-10

Import-Substituting Industrialization

Table 10-2: Exports as a Percentage of National Income, 1999

Copyright © 2003 Pearson Education, Inc. Slide 10-11

Import-Substituting Industrialization

Results of Favoring Manufacturing: Problems of

Import-Substituting Industrialization

• Many countries that have pursued import substitution

have not shown any signs of catching up with the

advanced countries.

– Example: In India, after 20 years of economic plans

between the early 1950s and the early 1970s, its per

capita income was only a few percent higher than

before.

Copyright © 2003 Pearson Education, Inc. Slide 10-12

Import-Substituting Industrialization

• Why didn’t import-substituting industrialization work

the way it was supposed to?

– The infant industry argument was not as universally

valid as many people assumed: lack of skilled labor,

entrepreneurs, managerial competence, reliable supplies

– Allows inefficient manufacturing sector to survive, but

cannot directly make that sector more efficient

• Import-substituting industrialization generated:

– High rates of effective protection

– Inefficient (small) scale of production, too many firms

– Higher income inequality and unemployment

Copyright © 2003 Pearson Education, Inc. Slide 10-13

Import-Substituting Industrialization

Table 10-3: Effective Protection of Manufacturing in Some Developing

Countries (percent)

Copyright © 2003 Pearson Education, Inc. Slide 10-14


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DESCRIZIONE DISPENSA

Materiale didattico per il corso di Economia Internazionale del prof. Alireza Jay Naghavi. Trattasi di slides in lingua inglese a cura del docente, all'interno delle quali sono affrontati i seguenti argomenti: la politica commerciale nei paesi in via di sviluppo; lo sviluppo dell'industria e l'industrializzazione import-substituting; il protezionismo come strumento di sviluppo industriale; il peso delle esportazioni nelle economie dei paesi in via di sviluppo; il dualismo economico ed i suoi problemi; l'industrializzazione export-oriented dei paesi del sud-est asiatico; le "tigri asiatiche".


DETTAGLI
Corso di laurea: Corso di laurea in studi internazionali
SSD:
Università: Bologna - Unibo
A.A.: 2011-2012

I contenuti di questa pagina costituiscono rielaborazioni personali del Publisher Atreyu di informazioni apprese con la frequenza delle lezioni di Economia internazionale e studio autonomo di eventuali libri di riferimento in preparazione dell'esame finale o della tesi. Non devono intendersi come materiale ufficiale dell'università Bologna - Unibo o del prof Naghavi Alireza Jay.

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