Import demand and import substitution in Brazil : 1953-1965

Abstract

The outline of the paper is the following. Section one puts this problem of import demand in the context of general price theory and discusses the general import record. Section two contains two alternative expressions of the import model in regressions form. The econometric results of the regressions are discussed in section three. In section four we will examine some of the implications of the regressions functions by showing the forcast changes in imports when the growth rates of domestic industry and relative prices are allowed to vary. Also we will include a discussion of the implication of the regressions in the light of "import substitution".