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Full Description
This book examines various impediments faced in the development process and implementation of reforms in Sri Lanka, particularly after economic liberalization in 1977. The author maintains that it is a case of development under stress where the outcome has been far below the country's potential. The book describes key features of the Sri Lankan socio-political and economic system that prevented the country from achieving higher levels of economic growth. It explains why it could not match the economic achievements of South Korea and Malaysia-countries that had similar per capita income levels to that of Sri Lanka in the 1950s. The book is divided into five parts. The first part examines 50 years of economic development and the challenges ahead; the second discusses the economic liberalization debate; the third part looks at macroeconomic management during difficult times; the fourth looks at sectoral issues with reference to industry and agriculture; and the final part examines employment and poverty.
Contents
PART ONEEconomic Development during the 50 Years of IndependenceWhat Went Wrong?Pre-Conditions for Achieving 'NIC Status'Stabilization and AdjustmentA Second Look at the Experience during 1977-93Does Leadership Matter in the Economic Reform Process?Liberalization and Governance during 1989-93PART THREE: MACROECONOMIC MANAGEMENTThe Economic Cost of the North-East ConflictFree Float of Currency, Budget 2001 and the IMF PackageManaging the Economy during Turbulent Times, 2001-01Managing the Economy at a Time of Terrorism and War and the Prospects after the 2002 Ceasefire AgreementTransforming the Conflict Using an Economic DividendThe Experience during 2002-03PART FOUR: SECTORAL POLICYIndustrializationAn OverviewReady-Made Garment IndustryPreparing to Face the Global ChallengeMarket Reform and Diversification in AgricultureFood Security IssuesPART FIVE: EMPLOYMENT AND POVERTYStructural Adjustment and Employment CreationThe Poverty Situation and Policy



