GROWTH DEVELOPMENT CHILD
GROWTH AND DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lack of government intervention
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Negative impacts on employment
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Undervalued exchange rates
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Improvement in the balance of payments and debt position
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Detailed explanation-1: -By the 1960s, ISI strategies were seen to have significant drawbacks. Although results varied from country to country, general trends included production that often did not extend into industries other than consumer goods, slow employment growth, agricultural-sector decline, and minimal productivity growth.
Detailed explanation-2: -Import substitution policy is a set of measures aimed at stimulating the production and competitiveness of domestic goods to increase domestic demand and optimize the demand for imports. It is determined by the need to reduce the dependence of the transitive economy on economic leaders.
Detailed explanation-3: -The study has found that bureaucratic red tape, the difficulty to get well trained labor, technological inferiority, shortage an frequent interruption of electric power supply are found to be the major challenges of import substitution industrialization.
Detailed explanation-4: -Import substitution can impede growth through poor allocation of resources, and its effect on exchange rates harms exports.