Export-led growth is an economic strategy used by some developing countries. This strategy seeks to find a niche in the world economy for a certain type of export. Industries producing this export may receive governmental subsidies and better access to the local markets. By implementing this strategy, countries hope to gain enough hard currency to import commodities manufactured more cheaply somewhere else.
Read more about Export-led Growth: Origins, Importance, Types of Exports, Limitations
Famous quotes containing the word growth:
“A man’s growth is seen in the successive choirs of his friends. For every friend whom he loses for truth, he gains a better.”
—Ralph Waldo Emerson (1803–1882)