What central economic policies were adopted under each model, Other Subject

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What central economic policies were adopted under each model

Assignment task: Respond the question by using some of following key terms:

A. Export-oriented growth

B. Law of comparative advantage

C. Import substitution industrialization

D. Infant industries

E. Tariffs

F. Modernization Theory

G. Dependency Theory

Two economic development models were standard in Latin America during the nineteenth and twentieth century: export-oriented growth and import substitution industrialization. Please answer the following essay questions: What central economic policies were adopted under each model? What advances and constraints did each model face?

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