CIAO DATE: 07/2011
June 2011
Columbia Center on Sustainable Investment
Although not yet fully conceptualized as a new catch-up model in mainstream development economics, the infant industry argument (protectionism designed to replace imports with domestic substitutes) is giving way to a foreign direct investment (FDI)-led model of industrialization.
Resource link: The role of multinationals in sparking industrialization: From "infant industry protection" to "FDI-led industrial take-off" [PDF] - 79K