INDUSTRIALISATION AND DEVELOPMENT

Question 1

What does ISI stand for

Answer 1

Import substitution industrialisation

Question 2

Outline ISI

Answer 2

Isi sought to increase economic growth by increasing both employment and national output so countries would become less dependent on imports from the developing world. This involved replacing imported goods with home produced goods

Question 3

Give two advantages and two disadvantages of ISI

Answer 3

Transformed and dominate economies in South America and asia according to Duncan green.
Gives countries more control over their economies as they are able to reinvest their profits into their economy.

Countries allowed internal competition which meant economies of scales could not be taken advantage of.

Question 4

Outline EPZs

Answer 4

Export processing zones are areas where companies can import equipment and manufacture goods for export. TNCs were encouraged to build factories here as governments liberalised the production process in these areas. This meant maximum profits could be made through cheap labour no safety regulations and absence of trade union

Question 5

Outline export orientated industrialisation

Answer 5

A strategy that involved industrialisation by producing specialised manufactured goods in area where they could be marketed cheaply in the developing world.

Question 6

Give two advantages and two disadvantages of EOI (export orientated industrialisation)

Answer 6

Worked well for tiger economies

However, the model is reliant on demand from the West.