Import control

Updated: Aug 20, 2021

Administrative restriction and allocation of imports. This may be imposed for balance-of-payments reasons, to reduce spending on imports, or for industrial policy reasons to protect domestic producers of import substitutes. Administrative import controls reduce competition in the economy, and provide opportunities for corruption; programmes of economic liberalization generally include the abolition of import controls, or their replacement by tariffs.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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