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What is import-substituting industrialization? Why did it fail in the Middle East?

User Noamtm
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Answer:

The failure of ISI to generate sufficient growth in industrialisation and overall development led to its abandonment by the early 1980s. ... The new economic consensus blamed the low growth rates on excessive protectionism in the industrial sector, the neglect of exports, and the low agricultural productivity.

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User Chikak
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