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Chapter 6 Industrialization and Structural Change
Chapter 6 Industrialization and Structural Change
• To become efficient, it is
often argued that new
industries need to be
protected from competition
until they grow to be efficient
enough to compete
internationally.
Infant Industry Protection
• Such infant industry
protection has been used to
erect tariff barriers and import
restrictions in a number of
countries. [Refer
Supplementary Article 5a]