f this policy would be to increase GDP, and GDP would increase at an accelerated rate as the economy expanded. The correlation between ISI and growth in per capita GDP is minimal.
             The inadequacy of the policy was exposed during the oil shock in 1973. The exchange policies in Africa as a whole were very strict so it was a difficult task to get money out of the country. To get money converted into foreign funds, there was an application process. First an application was made to the Central Bank and then based upon the reasons for the application it was then approved or declined. Merchants had many connections outside of the country to smuggle their money out, importing goods for sale was the leading mechanism to get large amounts of money out of domestic banks. To accomplish this the merchant would overprice the imports. An example that my father was very familiar with was one where a family member (a cousin) would set up shop in England and would act as a supplier for his cousin in Kenya. The Kenyan would then a
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