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220 Imports anti-export bias Argentina balance of payments basic conundrum basic policy conundrum Brazil Chile commodity exchange rates commodity markets commodity rates compensated devaluation cost exchange rate domestic market employment equipment exchange rate structure exchange rate system existing export products export subsidies factor financial exchange rate fixed investment foreign exchange-using nature Full capacity utilization import substitution imported inputs Imports 330 income effect industrial costs industrial exports industrial output industrial sector inefficiency illusion installation International trade policy labor Latin American countries Latin American economic Latin American industry leading sector level of capacity marginal cost Marginal physical product market wage multiple shifting pesos per dollar policy makers price competitiveness price of capital price of output price stability private decision profit quasi-Keynesian situation rate for imported rate of growth raw materials real income requires result Schydlowsky shadow price shadow wage shifts of operation social Structure of Protection substantial taxation traditional exports underutilization