Why do some countries develop more than others? Do their strategies on international trade have a role on this? In this paper, two different industrialization strategies, import substitution and export promotion, are compared. The advantages and the disadvantages of these strategies on their...

Governments in various countries, irrespective of the country׳s level of economic growth, seek to initiate macroeconomic policies towards achieving better economic performance in order to advance level of business activities and ultimately, ensure better quality of life for the people. To...