Answer to Question #236534 in Economics for Chorus

Question

How can export oriented industrialization helps economic growth in developing countries

Answer 1

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 elsewhere.