Contents: Introduction: economic policy in Sri Lanka: issues and debates/Saman Kelegama. I. Development strategy and ideology: 1. Growth of manufactured exports and terms of trade: pessimism confounded/Prema-chandra Athukorala. 2. The influence of development ideology in macroeconomic policy reform process/Dushni Weerakoon. 3. The lessons of national planning/Godfrey Gunatilleke. 4. Understanding reforms: 1960-2000/Lal Jayawardena. 5. The importance of the public sector in economic and social development/J.B. Kelegama. II. Macroeconomic policy: 6. Current fiscal policy/D.D.M. Waidyasekera. 7. Public debt: institutional issues/Nihal Kappagoda. 8. Exchange rate/Sisira Jayasuriya. III. Agriculture, industry and technology development: 9. Agricultural development: controversial issues/Nimal Sanderatne. 10. Industrial policy/Sarath Rajapatirana. 11. Technology development: key issues in productivity/Chandana Perera and Sarath Dasanayaka. IV. Employment and labour: 12. Labour productivity growth and employment generation/Ravindra A. Yatawara. 13. Youth unemployment: an exploratory study/W.D. Lakshman. 14. Migration and brain drain/Raja B.M. Korale. V. Institutional and governance issues: 15. Economic liberalization and institutional reform/David Dunham. 16. Consumer affairs authority act in the overall context of competition policy/A.D.V. de S. Indraratna. 17. Privatization and regulation/Malathy Knight-John. 18. Banking sector reform/H.N.S. Karunatilake. VI. Social welfare: 19. The colonial lineages of the welfare state/Laksiri Jayasuriya. 20. Overview of the health sector/Amala de Silva. 21. Public investment in education: conceptual foundations/Harsha Aturupane. 22. Poverty alleviation/Buddhadasa Hewavitharana. Bibliographical sketch of Gamani Corea. Index.
"The national planning exercise of the Sri Lankan economy was started in the early 1950s and the economic liberalization exercise was started in the mid-1960s. Both were initiated to support the economic development activities of the country. The chief architect of these initiatives was Gamani Corea, to whom this volume is dedicated. These processes gave rise to an extensive policy debate within the country which culminated in the more radical liberalization of the economy starting from 1977 and which continues till today.
This volume provides thorough analysis of this debate and highlights crucial economic issues pertaining to contemporary Sri Lanka. It discusses the historical evolution of policy and the ideology governing it, the debates surrounding the policy, and key contemporary issues in economic policy relating to all segments of the economy. Bringing together contributions by 23 eminent economists and social scientists, this book is unique in the comprehensiveness of its coverage and treatment and in its special focus on debates. The essays in the book are grouped in six sections:
Development strategy and ideology
Macroeconomic policy
Agriculture, industry and technology development
Employment and labour
Institutional governance issues
Social welfare
Offering a detailed and insightful study of economic policy in Sri Lanka, this book is invaluable for students, teachers and researchers interested in Sri Lanka's economy, development economics and the process of policy-making."
