export-oriented industrialization


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export-oriented industrialization

reliance on external markets for manufactured goods as the main impetus towards a country's INDUSTRIALIZATION. It is a term usually applied to those THIRD WORLD countries which have attempted to find niches in the world market where advantages of low labour costs may make their goods cheaper than those produced in industrial countries. In Third World countries low incomes may mean a limited internal market, initially, for mass consumption goods which, nevertheless, can be produced relatively cheaply The strategy has been successful for some countries, such as South Korea which exports a wide range of manufactured goods (from clothing to ships), and less successful for others which have been unable to increase the range of manufactured goods exported. The success of this strategy will depend on the opportunities in the world market at any particular time, the success of state investment and general economic policies, the nature of organized labour and whether it is successful in raising wage levels, and the degree of political and social stability within a country See also DEPENDENT INDUSTRIALIZATION, NEW INTERNATIONAL DIVISION OF LABOUR, NEWLY INDUSTRIALIZING COUNTRIES.
References in periodicals archive ?
In general, export-oriented industrialization mode, which is widely followed, often relies primarily upon a young female work force.
Such export policy should be based, inter alia, on promoting an agro-based and export-oriented industrialization in the country.
Differences within Latin America do, it should be acknowledged, pose a significant challenge to cross-regional comparisons, particularly with the more dynamic "export-oriented industrialization" (EOI) models pursued in Korea and Taiwan after a briefer period of ISI.
So far, Pakistan has failed to adopt an effective export-oriented industrialization strategy, it needs to be rectified at the earliest.
Growth has been driven by a series of structural reforms and the country harnessed its favourable geographical location on global trade routes to promote export-oriented industrialization and encouraging regional integration.
"Export-oriented industrialization should become a central element in economic policy.
Taiwan, like the other three tiger economies, limited the period of the indispensable stage of import substitution by adopting policies that encouraged their industrialists to graduate sooner than later to an export-oriented industrialization strategy, making wise use of the baby boom that all of them had after the Second World War.
For Pakistan, CPEC provides an opportunity to learn from China's experience with SEZs which have served as a catalyst for enhancing economic development through export-oriented industrialization in China.
The difference seems to be explained by the fact that the expansion of urban, modern sectors in recent high-growth episodes is driven by domestic demand rather than export-oriented industrialization. In particular, the African model appears to be underpinned by positive aggregate demand shocks generated either by transfers from abroad or by productivity growth in agriculture.
Due to limited natural resources, both governments employed an export-oriented industrialization policy.
The background and contextual material holds no surprises for those familiar with Malaysian economic history and its political economy (including the NEP and the NEM, the IMPs and the shift between import substitution and export-oriented industrialization), and the development of natural rubber production.
Lahore -- Export Processing Zones Authority (EPZA), Faisalabad, and Industrial Estate Development and Management Company (FIEDMC) agreed to sign a memorandum to boost export-oriented industrialization in the country.