Browsing by Author "Stoutjesdijk, Ardy"

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    Economic intergration among developing countries
    (1978-09) Balassa, Bela; Stoutjesdijk, Ardy
    In the early postwar period, economic integration among developing countries was considered primarily as a way of extending the policy of import substitution on a regional scale. This approach is subject to serious limitations since even regional markets will often not permit the establishment of efficient-size firms, much less competition among several such firms. Thus regional integration oriented towards import substitution may lead to the establishment of ineffcient plants and of an inefficient industrial structure thereby postponing the time and increasing the difficulties of a reorientation of policies once the limits of import substitution have been reached.