A periphery country refers to a nation that has limited economic development compared to core countries. These nations often export raw materials or low-value goods while being dependent on imports for higher-value products.
Related terms
term: Core country
term: Semi-periphery country
Import substitution industrialization (ISI): ISI refers to policies adopted by some periphery countries aiming to reduce dependence on imports by promoting domestic industries through tariffs, subsidies, and government regulations.