Role of the Industry Import Substitution Strategy in the Country Economy
- https://doi.org/10.2991/aer.k.200202.005How to use a DOI?
- high price, low quality, low competitiveness, competition, foreign products, import substitution strategy
This study examines the import substitution strategy, a government strategy, focused on replacing agricultural or industrial imports to encourage local production. Import substitution is intended to create jobs, reduce demand for foreign currency, stimulate innovation, and ensure the country’s independence in such areas as food, defence, industry and advanced technologies. The issue of import substitution policy related to an attempt to revive, modernize or create the missing elements of production in the economy continues to remain debatable. The article substantiates the idea that in the absence of close work with horizontal measures such as the development of certain technologies, the formation of new areas of knowledge, the filling of missing scientific competencies, such a policy will have a limited period of use with an emphasis primarily on price competitiveness. The study reveals the processes that rise economic expansion and are sensitive to currency fluctuations. It is necessary for an active import substitution policy linked to new emerging markets. This problem is underexplored and requires further research.
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Nassyrova Anar AU - Niyazbekova Shakizada AU - Ilyas Akylbek AU - Zhanabayeva Zhanar Kairbekovna AU - Khassenova Kenzhegul AU - Tlessova Elvira Bulatovna PY - 2020 DA - 2020/02/08 TI - Role of the Industry Import Substitution Strategy in the Country Economy BT - Proceedings of the IV International Scientific and Practical Conference 'Anthropogenic Transformation of Geospace: Nature, Economy, Society' (ATG 2019) PB - Atlantis Press SP - 23 EP - 25 SN - 2352-5401 UR - https://doi.org/10.2991/aer.k.200202.005 DO - https://doi.org/10.2991/aer.k.200202.005 ID - Anar2020 ER -