 IntroductionGaneshan Wignaraja
Chapter 1 in Trade Liberalization in Sri Lanka, 1998, pp 3-9 from Palgrave Macmillan Abstract: Abstract Compared to other developing countries in Asia, Sri Lanka was a relative latecomer to export-led industrialization through the growth of manufactured exports. The production of manufactured exports began to be emphasized as a serious objective in the country’s development strategy only in the mid-1970s. For over a decade after independence in 1948, the economy was based on an export-oriented plantation sector and a subsistence agricultural sector, inherited from the colonial era. Traditional export taxes were the major source of government revenue which was used to finance the extensive consumer subsidy system. By the end of the 1950s, Sri Lanka was reputed among developing countries for its social achievements but its level of industrialization was very low.1 Balance of payments problems and ideological influences in the early 1960s led to a shift in the development strategy towards an inward-oriented trade strategy based on import substitution. Keywords: Real Exchange Rate; Trade Strategy; Trade Liberalization; Technological Capability; Capital Inflow (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26267-0_1 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-26267-0_1 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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