Quantitative models of Import demand have revolved around numerical estimates of demand elasticities for a number of theoretical and practical reasons. Especially in the Latin American context, much of stimulus and direction of postwar development is said to have its origin in the reaction to the trade constraint, and the style and speed of the industrialization in the reaction to the increasing pressure of import demand. A somewhat different model views development from the reverse angle and mechanically searches for evidence of the impediment that periodic trade imbalances supposedly place in 2 the path of growth.