Sri Lanka is credited with being the pioneer of economic liberalisation in South Asia. Why, then, is economic progress painfully slow with the outcome being far below the countrys potential?This book examines the process of development and the implementation of reforms in Sri Lanka after the economic liberalisation of 1977. The author shows that while part of the story lies in the ongoing conflict in the North-East, which has lasted over 20 years, there are a number of other factors which have impeded economic progress, thereby, designating it development under stressThe book describes the 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 the country 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 author focuses on five core themes: - Economic development since Independence - The debate on economic liberalisation - Macroeconomic management - Sectoral policy - Employment and poverty

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