Author: Weerakoon, Dushni ×

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    Economic Challenges of Post Tsunami Reconstruction: Sri Lanka Country Study
    (Institute of Policy Studies of Sri Lanka, 2007-01) Jayasuriya, Sisira; Weerakoon, Dushni; Arunatilake, Nisha; Steele, Paul
    The aim of this study is to contribute to the discussions and debates on appropriate policies for the medium term reconstruction effort by providing an analysis of some of the priority issues emerging from Sri Lanka’s own experience of the posttsunami reconstruction and rehabilitation phase. To this end, the study also involved a survey of affected households in an attempt to obtain a broader understanding of the perceptions of the recovery process from the grass-root level.
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    Challenges and Constraints to Regionalism in South Asia
    (2013-09-03) Weerakoon, Dushni; Wijayasiri, Janaka
    This paper attempts to clarify the perceived costs and benefits underpinning regional trade cooperation and details the achievements of SAPTA to date and its impact on individual South Asian economies, where evidence is available. It also examines the constraints and challenges that South Asia is likely to face as it moves towards a more intense level of economic cooperation in the form of a South Asian Free Trade Agreement (SAFTA). Then it highlights some of the issues that need to be considered in moving towards a free trade are in the region by drawing upon the experience of ASEAN with the ASEAN Free Trade Area (AFTA).
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    SAFTA: An Analysis of the Potential Restrictions on Free Trade
    (2013-09-11) Weerakoon, Dushni; Tennakoon, Jayanthi
    Under the proposed tariff liberalization programme (TLP), SAFTA will become fully effective for non-LDC member countries of SAARC by 2013 (and by 2016 for LDC member states). However, under the negotiations on sensitive lists, each country has been permitted to exclude 20 per cent of tariff lines which are not subject to the TLP. In effect, it means that a substantial proportion of trade within the South Asian region may in fact be excluded from the principle of ‘free trade’. The primary objective of the proposed study aims to make an initial assessment of the extent of such excluded intra-regional trade; in doing so, it will offer a brief background to the rationale for promoting regional economic cooperation in South Asia and examines the current forms of trade initiatives in the region, including bilateral FTAs that can impinge on efforts by SAARC to foster trade linkages. Followed by the examination of the scope of the SAFTA Framework Agreement study offers quantitative estimates of the volume of intraregional trade excluded from the SAFTA process. Finally it outlines a set of policy recommendations to strengthen the SAFTA agreement and meet the objectives of ensuring liberalization of trade within the SAARC region.
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    Monetary Cooperation in South Asia
    (2013-09-05) Jayasuriya, Sisira; Weerakoon, Dushni; Kurukulasuriya, Shalini; Maskay, Nephil M.; Khatiwada, Yuba Raj
    This study reports on the first stage of a research programme into issues of monetary cooperation in South Asia. It describes the main features of the South Asian economies, their recent policy evolution and trends in economic performance. It then examines the patterns of shocks in South Asia using econometric/statistical tools to determine if SAARC countries are candidates for a currency union by conventional OCA criteria. Report also discusses the nature of shocks and historical patterns of policy across countries. Finally it presents the overall conclusions of the study and discusses the main research tasks identified for the next stage.
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    Sri Lanka’s Macroeconomic Challenges from a Perspective of Twin Deficits
    (2023-07-11) Weerakoon, Dushni
    The Sri Lankan economy demonstrates a high degree of macroeconomic volatility and instability as evident from its regular programmes with the International Monetary Fund (IMF). Despite their related conditionalities on structural reforms, fiscal and external sector consolidation, it is apparent that such reforms have failed to take root. In that context, the rest of the paper examines the underlying causes of the twin deficit phenomenon in Sri Lanka, the policy responses adopted, and the challenges yet to be overcome if the country is to place its economy on a more sustainable growth path.
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    Macroeconomic Challenges 2006‐2016
    (2023-07-11) Weerakoon, Dushni
    With GDP growth relying on construction and related activities, private consumption was the main driver of growth while tradeable goods production stagnated. As the country’s debt service ratio climbed steadily, Sri Lanka is faced with a growing external debt problem in the face of prolonged dip in export earnings growth and non‐debt creating FDI inflows. If the economy is to escape the vicious cycle of fiscal dominance in macroeconomic policy setting – leading often times to high inflation, interest rates and an unfavourable exchange rate dynamic – then steps towards fiscal consolidation is a must. Adjustments on the macroeocnomic policy front need to be accompanied by deregulatory reforms to address export competitiveness and generate a more conducive investor environment to further support debt sustainability.
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    Linkages between Trade, Development and Poverty: Sri Lanka
    (2014-01-08) Weerakoon, Dushni; Tennakoon, Jayanthi
    This paper examines in some details the Sri Lankan experience with trade reforms and its impact on the broader development objectives of the country.
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    Implications to Member States of Progression from SAPTA to SAFTA
    (2013-08-28) Weerakoon, Dushni; Wijayasiri, Janaka
    The purpose of this paper is to examine how to accelerate the process of regional cooperation in South Asia and the implications of the movement from SAPTA to SAFTA on member countries. The report will give an overview of trade regimes in South Asia and examine the extent to which SAPTA has been successful in liberalizing intra-regional trade. Drawing on existing empirical research, the report will assess the likely impact of a South Asian free trade area, and the substantive issues that have to be addressed in the movement towards an FTA. The discussion will draw, wherever possible, on relevant experience of other regional trade initiatives.
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    Foreign Direct Investment and Economic Integration in the SAARC Region
    (2013-09-05) Jayasuriya, Sisira; Weerakoon, Dushni
    This paper reports on an initial exploration of issues, documenting the nature of intra-SAARC investment flows, and presenting the results of some preliminary investigations of the emerging trade and investment linkages within the SAARC, with particular attention to India-Sri Lanka links.
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    WTO Doha Round and South Asia: Trade Facilitation
    (2013-09-03) Weerakoon, Dushni; Weeraratne, Bilesha; Tennakoon, Jayanthi
    This report is intended to contribute to a wider discussion of the contents and elements of the multilateral framework on trade facilitation by offering South Asian negotiators an opportunity to examine in greater detail the challenges posed by the negotiations on trade facilitation; the scope of the negotiations as delineated by the July Package; the content and elements to be agreed upon; future challenges posed by any new obligations that may arise from implementation of such an agreement; and finally discuss and evaluate trade facilitation proposals submitted by South Asian members and their implications for the region.