Grullón, S: A Study of Economic Performance in the Dominican

This book studies economic performance in the Dominican Republic under alternative growth strategies during the period of 1966-2005. The results show that throughout the era of inward-oriented policy the income demand elasticity of exports was greater than that of imports, producing high rates of economic growth. During the following era of outward-oriented growth, the income demand elasticity of exports became smaller which, combined with a constant income demand elasticity of imports, yielded lower rates of economic expansion. The issues analyzed in this book help us to expand our knowledge of the inward-directed growth model practiced by the Dominican Republic and other Latin American countries in the past and the outward-led approach advocated by the World Bank and the IMF as an alternative to the former and should be of interest to economists, historians, and political scientists, or anyone else interested in the political economy of industrialization.