Abstract

This document compares the Import Substitution Industrialization (ISI) model in Colombia with the Asian success of Singapore, with the aim of determining whether there were shortcomings in the implementation of the model in Colombia and, if so, identifying them. It is important to note that conducting this type of analysis can present challenges, given the considerable differences in the conditions of both countries. To address this issue, the potential shortcomings identified for the South American country are evaluated within the context of its own circumstances, rather than based on the conditions that may have been established in Singapore. This analysis is limited to the following three perspectives: historical, governmental, and cultural. In the author's view, these dimensions alone yield interesting insights into the ISI phase of the Colombian economy and provide sufficient information for the reader to become familiar with the import substitution process in Colombia, its strengths, weaknesses, and economic consequences.