Economic and Social Survey of Asia and the Far East 1963

image of Economic and Social Survey of Asia and the Far East 1963

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.



The role of import substitution and export diversification

The need to diversify the economies of the developing ECAFE countries in primary as well as secondary industry is now generally recognized in their growth strategies. Two of the means for achieving this—import substitution and export diversification—have been given considerable attention by the governments of these countries and have received explicit recognition in development plans and other official documents. It is necessary, first of all, to see why this need has arisen and then to examine the economic implications of the measures that are proposed. To do this, one must look first at the primary industry base of the developing ECAFE economies.


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