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

Eddy Giovanni Velandia Cuervo

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.

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
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Published in Econografos

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Persistent link: https://EconPapers.repec.org/RePEc:col:000176:022734

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