Home / The University / Faculties / Faculty of Economics and Business Administration / News / The book "Import substitution vs. globalization" by Prof. Nevyana Krasteva and Assist. Aleksey Potebnia was published

   

05.07.2022

 

The book "Import substitution vs. globalization" by Prof. Nevyana Krasteva and Assist. Aleksey Potebnia was published. It analyzes the experience of countries that have used different import substitution strategies, identifies the positive and negative consequences. Particular attention is paid to the study of the theoretical aspects of the problem of import substitution in the implementation of the economic development strategy. Based on the conducted research, the guidelines for introducing import substitution strategies in modern conditions are outlined.

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Based on the study, the following prerequisites for the successful implementation of the import substitution policy are identified: justification of a set of product groups whose import substitution is appropriate and profitable for the state and society in the long term; determination of import substitution policy instruments, in particular the spread of restrictive instruments (tariffs, quotas, taxation, etc.) in order to protect the national producer and stimulate investment measures to stimulate innovative economic development.

The experience of countries that have used different import substitution strategies to achieve their goals and stabilize the economy is analyzed, positive and negative consequences are identified. Particular attention is paid to the Russian Federation, as an important part of the global economy, which is currently facing the challenge of sanctions by the international political and business community.