Economic Policy Shifts in Sri Lanka: The Post-Conflict Development Challenge
The end of the long civil war in Sri Lanka in 2009 generated widespread expectations of a peace dividend that would enable the country to embark on a period of sustained economic growth. Recent developments have dampened that optimism, however, rekindling fears that Sri Lanka's tale of missed opportunities may continue. After showing remarkable resilience during decades of war and conflict, the Sri Lankan economy has failed to capitalize on the window of opportunity presented by the end of the military conflict. In the aftermath of military victory, there has been a sharp reversal of trade liberalization and a marked shift back towards nationalist-populist state-centered economic policies, reflecting the pressures of resurgent nationalism, an unprecedented concentration of political power in a small ruling group, and the influence of some powerful vested interests. Unfortunately, a return to the failed past policies of inward-oriented development strategies offers no viable solutions for the problems confronting small, capital- and resource-poor countries in today's globalized world. Sri Lanka must change both its political practices and economic policies drastically and urgently to cope with the huge development challenges facing it in an environment of global economic turbulence. © 2013 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.
Volume (Year): 12 (2013)
Issue (Month): 2 (June)
|Contact details of provider:|| Web page: http://mitpress.mit.edu/journals/|
|Order Information:||Web: http://www.mitpressjournals.org/loi/asep|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- David Dunham & Sisira Jayasuriya, 2000.
"Equity, Growth and Insurrection: Liberalization and the Welfare Debate in Contemporary Sri Lanka,"
Oxford Development Studies,
Taylor & Francis Journals, vol. 28(1), pages 97-110.
- David Dunham & Sisira Kumara Jayasuriya, 1998. "Equity, Growth and Insurrection: Liberalisation and the Welfare Debate in Contemporary Sri Lanka," Working Papers 1998.11, School of Economics, La Trobe University.
- Nisha Arunatilake & Sisira Kumara Jayasuriya & Saman Kelegama, 1999.
"The Economic Cost of the War in Sri Lanka,"
1999.10, School of Economics, La Trobe University.
- Christopher Adam & David Bevan, 2004.
"Aid and the Supply Side: Public Investment, Export Performance and Dutch Disease in Low Income Countries,"
Economics Series Working Papers
201, University of Oxford, Department of Economics.
- Christopher S. Adam & David L. Bevan, 2006. "Aid and the Supply Side: Public Investment, Export Performance, and Dutch Disease in Low-Income Countries," World Bank Economic Review, World Bank Group, vol. 20(2), pages 261-290.
- Bandara, Jayatilleke S. & Jayasuriya, Sisira, 2007. "Distortions to Agricultural Incentives in Sri Lanka," Agricultural Distortions Working Paper 48480, World Bank.
- Sirimal Abeyratne, 2004. "Economic Roots of Political Conflict: The Case of Sri Lanka," The World Economy, Wiley Blackwell, vol. 27(8), pages 1295-1314, 08.
- Coyne, Christopher J. & Dempster, Gregory M. & Isaacs, Justin P., 2010. "Asset values and the sustainability of peace prospects," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(2), pages 146-156, May.
- Easterly, William & Levine, Ross, 1997.
"Africa's Growth Tragedy: Policies and Ethnic Divisions,"
The Quarterly Journal of Economics,
MIT Press, vol. 112(4), pages 1203-50, November.
- Easterly, W & Levine, R, 1996. "Africa's Growth Tragedy : Policies and Ethnic Divisions," Papers 536, Harvard - Institute for International Development.
- Gelb, A & Knight, John B & Sabot, R H, 1991. "Public Sector Employment, Rent Seeking and Economic Growth," Economic Journal, Royal Economic Society, vol. 101(408), pages 1186-99, September.
- Rajapatirana, Sarath, 1988. "Foreign trade and economic development: Sri Lanka's experience," World Development, Elsevier, vol. 16(10), pages 1143-1157, October.
- World Bank, 2004. "Sri Lanka : Development Policy Review," World Bank Other Operational Studies 14577, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:tpr:asiaec:v:12:y:2013:i:2:p:1-28. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna Pollock-Nelson)
If references are entirely missing, you can add them using this form.