A General Panorama of the Import Substitution Industrialisation (ISI) Model for Colombia – A Comparative Case Study with Singapore

Eddy Giovanni Velandia Cuervo ()

No 17237, Econógrafos, Escuela de Economía from Universidad Nacional de Colombia, FCE, CID

Abstract: The document compares the Import Substitution Industrialisation (ISI) model for Colombia with the success of Singapore, to determine if there were failures in the implantation of the model in Colombia and if so, to identify them. It should be noted that an analysis of this type may present problems since the conditions of both territories differ considerably. To correct that problem the possible deficiencies found for the South American country are evaluated under the possibilities granted by its context and not by the conditions that could have been established in Singapore. The analysis of this work is limited only to the following three perspectives: historical, governmental and cultural, inasmuch as these dimensions, in the author's opinion, yield interesting results of the ISI phase of the Colombian economy and provide sufficient information for the reader to become familiar with the import substitution process in Colombia, its strengths, weaknesses and economic consequences. *** El documento compara el modelo de Industrialización por Sustitución de Importaciones (ISI) para Colombia con el éxito asiático de Singapur, con el propósito de determinar si existieron falencias en la implantación del modelo en Colombia y en caso afirmativo, determinarlas. Cabe resaltar que realizar un análisis de este tipo puede presentar problemas en tanto las condiciones de ambos territorios difieren de manera considerable. Con el fin de subsanar este problema, las posibles deficiencias encontradas para el país suramericano se evalúan bajo las posibilidades otorgadas por su propio contexto y no por las condiciones que pudieron ser establecidas en Singapur. El análisis de este trabajo se limita únicamente a las siguientes tres perspectivas: histórica, gubernamental y cultural, en tanto estas dimensiones, a juicio del autor, arrojan por sí mismas resultados interesantes de la fase ISI de la economía colombiana y proveen información suficiente para que el lector se familiarice con el proceso de sustitución de importaciones en Colombia, sus fortalezas, desaciertos y consecuencias en materia económica.

Keywords: Colombia; Singapore; Economic History; Import Substitution; Industrialisation; Culture (search for similar items in EconPapers)
JEL-codes: B20 H11 I21 Z10 (search for similar items in EconPapers)
Pages: 24
Date: 2019-04-23
New Economics Papers: this item is included in nep-sea
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