Economics

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Economic reforrms in Sri Lanka achievements and challenges
(2005) Atapattu, D
Financing of the open economy: The experience of Sri Lanka
(1991-12-14) Atapattu, D
It has been almost 14 years since Sri Lanka adopted a development strategy commonly known as the monetarist model. Under this strategy a broad programme of economic reforms was introduced to transform the economy from one in which almost all economic activity was controlled by the state to one in which the the private sector played the lead role and in which market forces determined the allocation of resource. The initial package of policy reforms was far reaching and include reduction in price controls and subsidies, exchange rate unification and devaluation, import liberalisation interest rate reform and incentives for foreign investment.