GENERALITIES OF THE CLOSED ECONOMY

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Topic flotante

GENERALITIES OF THE CLOSED ECONOMY

A closed economy is one that does not carry out any exchange with other countries.

MODELS

Industrial restructuring

it is the restructuring of the secondary sector of the economy. It applies particularly to the exit from the industrial crisis resulting from the crisis of 1973

Export Promotion

The analysis starts from the study of export promotion by understanding the economic development strategy that stimulates the production of manufactured goods for export. This strategy is based on strong public investments in infrastructure and in education that offer the services and skilled labor that is needed to reduce the costs of national production; it is normally complemented by an open trade policy that allows raw materials and food to be imported at the lowest possible cost.

Import Substitution Industrialization - ISI

argues that a country, to achieve its development, must transform the raw materials it possesses instead of exporting them. In other words, according to this current of thought, the State should encourage the local manufacture of first-rate goods that reach the final consumer.

objective

that the nation depends less on the commercialization of its natural resources. To this end, the Government reduces taxes and / or grants financing to activities that add value to primary goods. We refer, for example, to the metalworking or textile secto

AGROEXPORTER

An agro-export model is a model consisting of the production of agricultural products whose main purpose is export. It is related to countries with high competitiveness in the production of primary products, such as Colombia.