ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Measurement of Import Substitution-A Sceptical Note

estimating the contribution of import substitution to industrial growth. However, there is no consensus on the appropriate method to measure import substitution. Consequently, all the methods in use lead to inconsistencies when applied to actual data. In this note we try to understand different concepts of import substitution and review the various measures which have been used in making estiamtes of import substitution.
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