Latin American and Caribbean countries: From Import-oriented substitution strategy to Export-oriented industrialization
The aftermath of World War II and the Great depression in Latin America and Caribbean countries (LAC’s) industrialization was marked by an import-oriented strategy (ISI). However, as the international market recovered, countries in the LAC adopted a process of liberalization, that was accompanied by the robust implementation of an export-oriented industrialization strategy or (EOI). Briefly, we explain the two strategies, Import-oriented industrialization (ISI) and Export-oriented industrialization (EOI) in Latin American and Caribbean countries.