Development Under Stress : Sri Lankan Economy in
Transition/Saman Kelegama. New Delhi, Sage, 2006, 308 p., tables, figs., ISBN 81-7829-694-2.
Development Under Stress : Sri Lankan Economy in
Transition/Saman Kelegama. New Delhi, Sage, 2006, 308 p., tables, figs., ISBN 81-7829-694-2.
Contents: Preface. Introduction. I. Fifty years of economic development and the challenge ahead: 1. Economic development during the 50 years of independence: what went wrong? 2. Pre-conditions for achieving NIC status. II. Debate on economic liberalisation: 3. Stabilisation and adjustment: a second look at the experience during 1977-93. 4. Does leadership matter in the economic reform process? Liberalisation and governance during 1989-93. III. Macroeconomic management: 5. The economic cost of the north-east conflict. 6. Free float of currency, budget 2001 and the IMF package: managing the economy during turbulent times, 2000-2001. 7. Managing the economy at a time of terrorism and war and the prospects after the 2002 Ceasefire Agreement. 8. Transforming the conflict using an economic dividend: the experience during 2002-03. IV. Sectoral policy: 9. Industrialisation: an overview. 10. Ready-made garment industry: preparing to face the global challenge. 11. Market reform and diversification in agriculture. 12. Food security issues. V. Employment and poverty: 13. Structural adjustment and employment creation. 14. The poverty situation and policy. Index.
"Sri Lanka is credited with being the pioneer of economic liberalisation in South Asia. Why, then, is economic progress painfully slow with the outcome being far below the country's potential?
This book examines the process of development and the implementation of reforms in Sri Lanka after the economic liberalisation of 1977. The author shows that while part of the story lies in the ongoing conflict in the North-East, which has lasted over 20 years, there are a number of other factors which have impeded economic progress, thereby, designating it development under stress.
The book describes the 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 the country 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 author focuses on five core themes:
A must-read for all those involved in the study of Sri Lanka, as well as for development economists, students, researchers, policy makers, social scientists and South Asia experts."