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Theoretical Basis of Import Substitution in the Agro-Industrial Complex

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  • I.L. Vorotnikov
  • M.V. Muravyova
  • K.A. Petrov

Abstract

The authors consider the relevance of import substitution and the need for its theoretical justification. This is followed by a summary of international experience of implementing import substitution policy at the macrolevel, based on the national theories. The paper examines approaches to the definition of import substitution and classifies them according to the procedural and structural principle. Based on the analysis of the most accessible data sources, the authors give their own definition of the concept, considering specific industry characteristics. The study provides a general mathematical formulation of diversified import substitution in the agro-industrial complex based on all its three main spheres (production of means of production, agriculture, processing industry). The authors define import substitution policy in the agrarian sector of economy and highlight its special features. To form a theoretical basis for further modeling, the authors allocate different types of import substitution and highlight the need to develop a methodological basis of accounting for import substitution as a process with the elaboration of narrow-branch indicators based on the example of food balance sheets.

Suggested Citation

  • I.L. Vorotnikov & M.V. Muravyova & K.A. Petrov, 2018. "Theoretical Basis of Import Substitution in the Agro-Industrial Complex," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 751-759.
  • Handle: RePEc:ers:journl:v:xxi:y:2018:i:3:p:751-759
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    References listed on IDEAS

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    More about this item

    Keywords

    Import substitution in the agro-industrial complex; import substitution policy; risks; food; classification and types of import substitution; methodology.;
    All these keywords.

    JEL classification:

    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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