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Текст реферата Infant Industry Argument: Theory and Practice

Infant Industry Argument:  Theory and Practice
An Independent Study by Mamurjon Rahimov
The University of Illinois at Chicago - 2004

Introduction

First of all, it was very hard to choose a topic for the independent study.  The idea of researching the argument of infant industry protection came to me suddenly after reviewing a list of topics in one economics class.  From my several years of experience working in the major infant industry of Uzbekistan – the Uzbek automotive industry, I learnt how problematic the argument on infant industries was.  There are no clear guidelines, accepted practices, limitations, and the like, despite the fact that infant industries persist all over the world, especially in Less Developed Countries (LDCs).  I started my independent study with a hope that I would learn more about this topic to apply it when I go back to my country, and that my experience would allow me better understand the theory.  The argument of infant industries remains to be a controversial topic in the world economy.  The fact that it is not well defined further exacerbates the problems caused by its application.  Infant industry argument remains to be one of the major reasons for justifying protectionism in various forms.  Although protectionist measures such as tariffs, quotas, multinational agreements are imposed due to various reasons.

 It is very important for me to learn pros and cons of this argument, now and here – since scientific literature is one of the strongly censored aspects of life in Uzbekistan.  In fact, I never saw any mentioning that Uzbek auto industry was an infant industry.  Moreover, I never read any local article mentioning problems and/or losses of the Uzbek auto industry.  Even the export revenues of the company were often calculated on the basis of shipments made out of the country, even though these “shipments” did not sell for several years.  When I got started working with the Uzbek automotive industry, I was a new graduate from a prestigious American business school, and all excited about the opportunity to apply the knowledge that I acquired overseas, as well as to learn new things.  I met all kinds of people - those who did not know where the industry was going; foreigners who tried to take advantage of our ignorance, and smart people who were never allowed in decision-making.  I read about infant industries while in business school, and at that time, everything seemed logical and simple. 

.   In my discussions of this topic with leading managers, industry ministers, and PhDs in Uzbekistan (especially those working directly in the management of this venture), I felt that I lacked theoretical and empirical knowledge to base my arguments.  All of those managers, ministers, PhDs have background in the old socialist economy, so often neither I nor them learnt something useful after long and intense discussions.  I remember the excitement of my