Under the topic of international trade and development, it is required to answer this essay question using min 800 words (max 1400)
Question: Illustrate the ISI, EOI, OEI strategies, the policies that are associated to them and provide some examples.
– (ISI) strategy: import substitution industrialization - ISI: Protect sectors of industry until they become internationally competitive and then open the country to free trade.
– (EOI) strategy: export-oriented industrialization – Open the economy and subsidize selected firms until they become competitive
– (OEI) open economy industrialization: OEI Open the economy, create a conducive investment climate and call on FDIs to bring in firms already at a scale that makes them internationally competitive
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