Apart from that, such states can become extremely dependent on the trade policies of other states. Moreover, they can get access to education (Hamilton 1996, p. 1). ADVANTAGES OF EXPORT- ORIENTED INDUSTRIALIZATION Increasing sells and profits. For example, one can speak about such obstacles as import quotas or tariffs (Dickson 2013, p. 1991). Why is melted paraffin was allowed to drop a certain height and not just rub over the skin? Copyright © 2020 Multiply Media, LLC. Retrieved from https://ivypanda.com/essays/export-oriented-industrialization-and-its-principles/. The export-oriented economy of such countries cannot function effectively provided that other countries adopt protectionist policies. "Export-Oriented Industrialization and Its Principles." However, in the following decades, the country switched to the production of advanced technologies, usually electronics (Rasiah & Schmidt 2010, p. 48). 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Therefore, it is not possible to argue that export-oriented industrialization inevitably lead to inequality within a society. All Rights Reserved. Similar strategies have been implemented in India. Nevertheless, it has also been argued that this strategy can lead to exploitation of laborers and increasing inequality in the society (Schuerkens 2010, p. 102). Advantages of ISI 1. Additionally, this strategy eventually leads to the rising income level of people who can improve the quality of their lives. However, these short-comings do not undermine the positive role that was played by export-oriented architecture. Campbell, J 2013, Nigeria: Dancing on the Brink, Rowman & Littlefield Publishers, Boston. Inter state form of sales tax income tax? This paper is aimed at examining the advantages and disadvantages of export-oriented industrialization. The advantages and the disadvantages of this strategy will be stated. These products enjoyed significant demand in the foreign market. Apart from that, one should bear in mind that export-oriented investment brings foreign direct investment to a country (Chan & Clark, 2013). However, this policy may have significant limitations. They paid attention to both domestic and foreign markets since the purchasing power of local clients was also high. Does Jerry Seinfeld have Parkinson's disease? Why don't libraries smell like bookstores? Moreover, it is critical to look at the experience of western countries that took a different approach. Advantages• Make a couple products, and make them well• Slowly stop making simple items and start making more complex ones• Leads to GDP growthDisadvantages• Reliant on g, What are the advantages and disadvantages of export oriented industrialization. This issue should be taken into account by legislators who should work on the development of social policies. IvyPanda. It is necessary to focus on less developed countries which implemented this policy after the end of World War II. These are the main benefits of export-oriented industrialization. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. Moreover, these nations had to rely on advanced technologies in order to retain comparative advantage. Asian Tigers: Hong Kong, South Korea, Taiwan, and Singapore in the post-World War II period Gain new knowledge and experience. As a result, their actions can lead to the stagnation of many economic sectors. This flow of capital is also critical for the growth of industries. We will write a custom Essay on Export-Oriented Industrialization and Its Principles specifically for you for only $16.05 $11/page. Export-Oriented Industrialization was particularly characteristic of the development of the national economies of Japan, South Korea, Taiwan and Singapore in the post World War II period. What are the advantages and disadvantages of export oriented industrialization? After World War II, this approach to economic development has been adopted by different countries. This phenomenon is often described as a resource curse which means that the exportation of resources is associated with the decline of other industries. Additionally, the GDP of this country grew by 300 percent within the period between 1960 and 1986 (Chan & Clark 2013, p. 1958). Schuerkens, U 2010, Globalization and Transformations of Social Inequality, Routledge, New York. And are identified which export oriented strategy is better to successful economic growth. This nation concentrated on the exports of textile and agricultural products. The development of such nations as China or India can be possible provided that they have access to foreign markets (Dickson 2013). Moreover, in many cases, the development of an industry is affected by the governmental policies.

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