In part 1 of our discussion, we talked about how import-substituting strategies have their unique and crucial contributions to the progress of a developing country, like Ethiopia. Domestic control over far-reaching input capital goods, such as cement, metal, natural resources, etc. provides robust support to virtually all other industries. Contrary to import-substituting policies, export-oriented ones provide fast rides to advanced technologies, mature management, and a larger market, though at a high cost of local control and path certainty.
