The Overhang of Import Substitution

In Africa Report, Donald Kaberuka on a failed industrial policy:

The kind of industrialisation that we were embarking upon (post-independence) was called import substitution. And that was a dead end, going nowhere. While the rest of the world was doing export-led industrialising, making shoes, clothes and so on, we were closing off our markets with high tariffs and it was not working. So the idea of stopping this kind of industrialisation, I agree with.