(A)Why Did Large Developing Nations Generally Follow a Policy of Import

question 19

Essay

(a)Why did large developing nations generally follow a policy of import substitution as a strategy for growth during the 1950s,1960s,and 1970s? Why was this not generally possible for small developing nations? ?(b)Why was the policy of import substitution generally a failure?

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Definitions:

Correlation Coefficient

A numerical measure that describes the strength and direction of a relationship between two variables.

Independent Variable

The variable that is manipulated or changed in an experiment to see if it affects the outcome.

T-test

A statistical test used to compare the means of two groups and determine if they are statistically significantly different.

Correlation Coefficient

A statistical measure that describes the extent to which two variables change together, and the strength of their relationship.