A development strategy followed by many Latin American countries and other L.D.C.s that emphasized import substitution - accomplished through protectionism - as the route to economic growth.
IMPORT-SUBSTITUTION DEVELOPMENT STRATEGY
Meaning of IMPORT-SUBSTITUTION DEVELOPMENT STRATEGY in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012