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Prema-chandra Athukorala - Macroeconomic Policies, Crises, and Growth in Sri Lanka, 1969-90 (World Bank Comparative Macroeconomic Studies)

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title Macroeconomic Policies Crises and Growth in Sri Lanka 1969-90 - photo 1

title:Macroeconomic Policies, Crises, and Growth in Sri Lanka, 1969-90 World Bank Comparative Macroeconomic Studies
author:Athukoralge, Premachandra.; Jayasuriya, S. K.
publisher:World Bank
isbn10 | asin:0821322974
print isbn13:9780821322970
ebook isbn13:9780585235950
language:English
subjectSri Lanka--Economic policy, Sri Lanka--Economic conditions.
publication date:1994
lcc:HC424.A894 1994eb
ddc:339.5/0954893
subject:Sri Lanka--Economic policy, Sri Lanka--Economic conditions.
Page ii
WORLD BANK
Comparative Macroeconomic Studies
Macroeconomic Policies, Crises, and Growth in Sri Lanka, 1969-90
Page iii
Macroeconomic Policies, Crises, and Growth in Sri Lanka, 1969-90
Premachandra Athukorala
Sisira Jayasuriya
THE WORLD BANK, WASHINGTON, D.C.
Page iv
1994 The International Bank for Reconstruction
and Development / The World Bank
1818 H Street, N.W., Washington, D.C. 20433
All rights reserved
Manufactured in the United States of America
First printing August 1994
The World Bank Comparative Macroeconomic Studies series emerges from a research project that reviewed the macroeconomic experiences of eighteen developing countries over a period roughly from 1965 to 1990. So that the studies might be published with relatively little delay, the books have been edited outside the World Bank's Office of the Publisher by the Macroeconomic Research Department.
The findings, interpretations, and conclusions expressed in this publication are those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to the members of its Board of Executive Directors or the countries they represent.
The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to the Office of the Publisher at the address shown in the copyright notice above. The World Bank encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee. Permission to copy portions for classroom use is granted through the Copyright Clearance Center, Inc., Suite 910, 222 Rosewood Dr., Danvers, Massachusetts 01923, U.S.A.
The complete backlist of publications from the World Bank is shown in the annual Index of Publications, which contains an alphabetical title list and indexes of subjects, authors, and countries and regions. The latest edition is available free of charge from Distribution Unit, Office of the Publisher, The World Bank, 1818 H Street, N.W., Washington, D.C. 20433, U.S.A., or from Publications, The World Bank, 66, avenue d'Ina, 75116 Paris, France.
Cover design by Sam Ferro.
Premachandra Athukorala is a senior lecturer and Sisira Jayasuriya is a reader in economics in the Department of Economics at La Trobe University, Australia. Both were consultants to the World Bank for the writing of this book.
Library of Congress Cataloging-in-Publication Data
Athukorala, Premachandra.
Macroeconomic policies, crises, and growth in Sri Lanka, 1969-90 / Premachandra
Athukorala, Sisira Jayasuriya.
p. cm. (The World Bank comparative macroeconomic studies)
Includes bibliographical references and index.
ISBN 0-8213-2297-4
1. Sri LankaEconomic policy. 2. Sri LankaEconomic
conditions. I. Jayasuriya, S.K. II. Title. III. Series.
HC424.A894 1994
339.5 '0954893dc20 94-31612
CIP
Page v
Contents
Foreword
vii
Acknowledgments
ix
Acronyms
x
Data Notes
xi
Chapter 1. Introduction
1
Chapter 2. Sri Lanka's Political and Policy History
4
Picture 2
The Arrival of Independence
6
Picture 3
The Political Economy of Consumer Subsidies
7
Picture 4
An Open-Market Economy: 1948-56
9
Picture 5
The Shift to Import Controls: 1956-65
10
Picture 6
Partial Liberalization: 1965-70
13
Picture 7
Regulation and Controls: 1970-77
17
Picture 8
The Turnaround in Economic Policy after 1977
20
Picture 9
The Rise of Ethnic Hostility
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