By Saman Kelegama
ISBN-10: 0761935363
ISBN-13: 9780761935360
This e-book examines a variety of impediments confronted within the improvement approach and implementation of reforms in Sri Lanka, really after fiscal liberalization in 1977. the writer keeps that it's a case of improvement below tension the place the end result has been a long way under the country's power. The e-book describes key beneficial properties of the Sri Lankan socio-political and economic climate that avoided the rustic from attaining greater degrees of financial progress. It explains why it may no longer fit the commercial achievements of South Korea and Malaysia-countries that had related consistent with capita source of revenue degrees to that of Sri Lanka within the Fifties. The booklet is split into 5 components. the 1st half examines 50 years of financial improvement and the demanding situations forward; the second one discusses the industrial liberalization debate; the 3rd half appears at macroeconomic administration in the course of tricky instances; the fourth seems to be at sectoral matters near to and agriculture; and the ultimate half examines employment and poverty.
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Extra info for Development Under Stress
Sample text
So were the bureaucracy, most parliamentarians of the ruling party including some leading Cabinet members, the media, and so on. But despite this resistance, a small group around the Minister of Finance, with the backing of the prime minister, took a bold measure towards liberalising the economy. The bold measure of getting rid of the food subsidy was for the first time made possible by the massive mandate given to the new government, and the large amount of donor assistance for the development plans of the new regime.
It was one of the best-run commercial enterprises in the Third World (Forrest, 1968). Although nationalisation of plantations was mooted before Independence, it was not taken up until 1958, when a memorandum on ‘A Scheme for Nationalization of Foreign-Owned Tea and Rubber Plantations’ was submitted to the government as a plan for agriculture (Gunawardana, 1958). The plan suggested a phased programme of nationalisation extended over 10 years to cover, altogether, about half the tea and rubber land.
In a nutshell, the period 1948–77 is a tale of trying to overcome a foreign exchange crisis by controlling the economy and partially opening it up. It became difficult during this period to identify the appropriate strategy. , 1992: 343). 2 Source: Central Bank of Sri Lanka, Annual Reports (various issues). The Story from 1977 to 1997 By 1977, of course, the economy was in an exceptionally unfortunate position. It was not only, or primarily, that the country sorely needed help, both society in general and government policy-makers could now genuinely appreciate that the old approach could not really work.
Development Under Stress by Saman Kelegama
by Brian
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