Development Under Stress
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Development Under Stress

Sri Lankan Economy in Transition

  • Saman Kelegama - Institute of Policy Studies of Sri Lanka (IPS), Colombo, Sri Lanka


© 2007 | 356 pages | SAGE Publications Pvt. Ltd
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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.

PART ONE: FIFTY YEARS OF ECONOMIC DEVELOPMENT AND THE CHALLENGE AHEAD
Economic Development during the 50 Years of Independence
What Went Wrong?  
Pre-Conditions for Achieving 'NIC Status'
PART TWO: DEBATE ON ECONOMIC LIBERALIZATION
Stabilization and Adjustment
A Second Look at the Experience during 1977-93  
Does Leadership Matter in the Economic Reform Process?
Liberalization and Governance during 1989-93  
PART THREE: MACROECONOMIC MANAGEMENT
The Economic Cost of the North-East Conflict
Free Float of Currency, Budget 2001 and the IMF Package
Managing the Economy during Turbulent Times, 2001-01  
Managing the Economy at a Time of Terrorism and War and the Prospects after the 2002 Ceasefire Agreement
Transforming the Conflict Using an Economic Dividend
The Experience during 2002-03  
PART FOUR: SECTORAL POLICY
Industrialization
An Overview  
Ready-Made Garment Industry
Preparing to Face the Global Challenge  
Market Reform and Diversification in Agriculture
Food Security Issues
PART FIVE: EMPLOYMENT AND POVERTY
Structural Adjustment and Employment Creation
The Poverty Situation and Policy

This book provides an insight into the political economy of Sri Lanka for not attaining the desired performance in spite of early liberalization and a better economic base to start with after its independence in 1948…The book is written in the form of a commentary, describing the political economy of Sri Lanka and its impact…full of interesting information about Sri Lanka.

South Asia Economic Journal

Development under Stress is an important contribution to understanding Sri Lanka’s economic development experience.

The Book Review

"This volume is a good contribution to the scanty literature on Sri Lanka's economy and will be a useful addition to economic development and South Asian collections."

J.S. Uppal
Suny at Albany

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ISBN: 9780761935360
87.95 CAD
£47.50
995.00 INR
$80.00