Turkey experienced high levels of growth in the 1960s and 1970s under a strategy of import substitution industrialization
(ISI), which was based on heavy use of state-owned enterprise investments, a restrictive trade regime and strict regulation of financial activity.
With the passing of the import substitution industrialization
economies of the 70's, the stock market boom of the 80's, and the dot com bubble of the 90's, we seem to have missed every possible chance of breathing life into our otherwise failing economy.
The appearance of revolutionary movements in El Salvador, Guatemala, Honduras, and Nicaragua signaled the demise of the "prevailing agro-export economic model," the bankruptcy of Import Substitution Industrialization
policies, and the end of political rule by traditional elites (p.
To assess the former, he focuses on Latin America's switch in developmental models during the twentieth century: from economic liberalism to early stages of import substitution industrialization
(ISI) in mid-century; from ISI to a more capital-intensive import substitution (ISI2) in the 1960s; and from ISI2 to neoliberalism in the 1980s.
economic intervention, and he explores the failed experiments in import substitution industrialization
This import substitution industrialization
(ISI) program was a serious effort to industrialize.