CEPAL Review

Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of economic reform and transfer of technology. Written in English and Spanish (Revista de la Cepal), each tri-annual issue offers approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.

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The genesis of import substitution in Latin America

The process of import substitution that got underway in Latin America in the train of the Great Depression was principally a spontaneous response to the radical deterioration of the international prices of primary products, to the breakdown of the multilateral international trading system (and the collapse of world trade) and to the abrupt reversal of resource transfers.

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