Proceedings of the IV International Scientific and Practical Conference 'Anthropogenic Transformation of Geospace: Nature, Economy, Society' (ATG 2019)

Role of the Industry Import Substitution Strategy in the Country Economy

Authors
Nassyrova Anar, Niyazbekova Shakizada, Ilyas Akylbek, Zhanabayeva Zhanar Kairbekovna, Khassenova Kenzhegul, Tlessova Elvira Bulatovna
Corresponding Author
Nassyrova Anar
Available Online 8 February 2020.
DOI
https://doi.org/10.2991/aer.k.200202.005How to use a DOI?
Keywords
high price, low quality, low competitiveness, competition, foreign products, import substitution strategy
Abstract
This study examines the import substitution strategy, a government strategy, focused on replacing agricultural or industrial imports to encourage local production. Import substitution is intended to create jobs, reduce demand for foreign currency, stimulate innovation, and ensure the country’s independence in such areas as food, defence, industry and advanced technologies. The issue of import substitution policy related to an attempt to revive, modernize or create the missing elements of production in the economy continues to remain debatable. The article substantiates the idea that in the absence of close work with horizontal measures such as the development of certain technologies, the formation of new areas of knowledge, the filling of missing scientific competencies, such a policy will have a limited period of use with an emphasis primarily on price competitiveness. The study reveals the processes that rise economic expansion and are sensitive to currency fluctuations. It is necessary for an active import substitution policy linked to new emerging markets. This problem is underexplored and requires further research.
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Proceedings
IV International Scientific and Practical Conference 'Anthropogenic Transformation of Geospace: Nature, Economy, Society' (ATG 2019)
Part of series
Advances in Engineering Research
Publication Date
8 February 2020
ISBN
978-94-6252-898-7
ISSN
2352-5401
DOI
https://doi.org/10.2991/aer.k.200202.005How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Nassyrova Anar
AU  - Niyazbekova Shakizada
AU  - Ilyas Akylbek
AU  - Zhanabayeva Zhanar Kairbekovna
AU  - Khassenova Kenzhegul
AU  - Tlessova Elvira Bulatovna
PY  - 2020
DA  - 2020/02/08
TI  - Role of the Industry Import Substitution Strategy in the Country Economy
BT  - IV International Scientific and Practical Conference 'Anthropogenic Transformation of Geospace: Nature, Economy, Society' (ATG 2019)
PB  - Atlantis Press
SP  - 23
EP  - 25
SN  - 2352-5401
UR  - https://doi.org/10.2991/aer.k.200202.005
DO  - https://doi.org/10.2991/aer.k.200202.005
ID  - Anar2020
ER  -