We study the situation when a commodity-exporting economy is under sanctions and cannot use its accumulated fx-reserves or attract new fx-debt to smooth import restrictions amid slower decline of income flow from a commodity-export. Our study attempts to determine the adequate response of the...

Russia's brutal military aggression on Ukraine has led to extensive economic sanctions by Western countries and the withdrawal of many foreign companies from Russian markets. The isolation of Russia from the international community has substantially restricted its access to advanced technologies...

This paper highlights the issues of import substitution in the context of attaining total macro-economic balance, market adaptation, and achieving new levels of regional economic development as a constituent part of the national economy of the Russian Federation. An effective strategy and goal...

This study introduces a two-dimensional matrix analysis method that utilizes revealed comparative advantage and revealed comparative disadvantage indices. It aims to clarify the impact of trade remedy measures on beneficiary industries' performance. We compare the effects of these measures...

Russia has long aimed at reducing its dependency on imported technology. These aspirations intensified after Russia's invasion of Ukraine and sanctions restricting Russia's access to foreign technology. We analyze Russian company surveys and a small sample of product-level statistical data to...

Russia's foreign trade has shifted, causing a 30% depreciation in the Rouble due to declining oil prices and EU embargoes on Russian oil. While exports have decreased by 32%, imports have increased by 17% due to innovative ways to bypass trade sanctions. Despite EU restrictions, only around...

Industrial policies pursued in many developing countries in the 1950s-1970s largely failed while the industrial policies of the Asian Miracles succeeded. We argue that a key factor of success is industrial policy with export orientation in contrast to import substitution. Exporting encouraged...

Researchers and policymakers are re-examining the idea of import substitution industrialization (ISI). Consequently, trade policy has emerged as an essential instrument for promoting ISI. This research looks at the effect of trade policy on ISI, breaking down how tariff rates impact domestic...

The role of exports in promoting economic growth has been widely acknowledged. This paper analyses the link between exports, imports, and growth performance in Kenya using time series data. Despite trade liberalization and export promotion policies pursued over time, Kenya's export growth has...

Economic complexity theory deepens our understanding of export diversification. However, it relies on aggregated data which might disguise important details. In particular, these data do not take information on importers into account even though this information can provide new insights about...

I study the effect of an innovation subsidy on the growth of firms in a developing country. Using administrative microdata for Brazil and difference-in-differences, I find that innovation subsidies drive firm growth by facilitating firm entry into high-tariff markets with domestically produced,...

This article tries to shed light on import substitution industrialization (ISI) in Egypt. The country had witnessed political instability, social changes, and economic hardships. In this regard, those signs are better understood by having a retrospective view into its economic and political...

In the 1950s, many economists believed that import substitution - policies to restrict imports of manufactured goods - was the best trade strategy to promote industrialization and economic growth in developing countries. By the mid-1960s, there was widespread disenchantment with the results of...

The role of exports in promoting economic growth has been widely acknowledged. This paper analyses the link between exporting and growth performance in Kenya using time series data. Despite trade liberalization and export promotion policies pursued over time, Kenya's export growth has been...

Russia's brutal military aggression on Ukraine has led to extensive economic sanctions by Western countries and the withdrawal of many foreign companies from Russian markets. The isolation of Russia from the international community has substantially restricted its access to advanced technologies...

Russia’s food policy has been defined by the quest for food security for more than a decade, which in the Russian context includes import protectionism, self-sufficiency, and import substitution, marked by the adoption of Food Security Doctrines in 2010 and 2020. This chapter first...

This working paper was written by Kang Shi (The Chinese University of Hong Kong) and Juanyi Xu (Hong Kong University of Science and Technology, and Simon Fraser University).This paper develops a small open economy model with sticky prices to show why a flexible exchange rate policy is not...

The focus of this paper is based on a pursued economic philosophical exploration of the concept of Afro-centricity in a bid to unravel the best possible model approach to fostering Import Substitution Industrialization (ISI) motive for championing growth and development in the African continent...

The current article focuses on Import Substitution Industrialization (ISI) in Turkey. It adopts a retrospective approach focusing on economic, political, historical, and social contexts that shaped emergence of ISI, its performance, success, and failure. Understanding initial conditions in the...

The monograph examines the current problems of state policy of import substitution in the current conditions of the post-industrial economy. The essence and generalized theoretical approaches to the genesis of theories of import regulation in open economies have been revealed, the tools of state...

Supply chains between Ukraine, Russia and Europe have been affected either by fighting or political sanctions. European governments and firms are looking for alternative suppliers. However, the German and the planned European supply chain laws require adherence to minimum social and...