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- Sri Lanka State of the Economy 2014
Over the past half-Century, Asia has seen the most spectacular examples of economic development spanning from Japan to South Korea, Singapore and Hong Kong. In more recent decades, China and India have led the way as fast growing economies, spearheading Asia’s seemingly relentless economic rise. While there seems little disagreement that Asia will continue to be a dynamic centre of global growth, the pace at which countries in the region will grow to lay claim to a collective ‘Asian Century’ is subject to considerable debate. Ageing populations, rising wages and other costs, environment degradation, and a prolonged and weak recovery in developed economies are only some of the challenges facing the region.
For Sri Lanka, the prospect of an invigourated Asia is clearly important as the country seeks new development partners, markets, and investors in its post-war economic expansion efforts.
The development experiences, policies and institutions of its neighbours in Asia are being examined more thoroughly than ever before. An integral part of this learning curve is not only to emulate the successes, but also to avoid the pitfalls.
The Sri Lanka: State of the Economy 2014 argues that, while the Sri Lankan context is no doubt different, and following the Asian trajectory identically may not be feasible or desirable, there are salutary lessons to draw from Asia’s rise, both for Sri Lanka’s own development journey but also in understanding how to best latch on to it. Pursuing policies that temper growth with sustainable resource management, and instituting reforms that enhance productivity in driving economic growth will assure Sri Lanka a better chance to meet its interlinked goals of sustained economic prosperity and social harmony.
The report is available for sale from the IPS premises at No. 100/20, Independence Avenue, Colombo 07 (Tel: +94-11-2143100, +94-11-2665068), and bookshops island-wide. More details of the report could be obtained from the IPS website: www.ips.lk.
Publication
The IPS Flagship Publication is available for sale from the IPS premises at No. 100/20, Independence Avenue, Colombo 07 (Tel: +94-11-2143107, +94-11-2143100), and bookshops island-wide. For more details, contact the IPS Publications Unit.
ISBN
978–955–8708–80–4
Published Year
October 2014
Price
US $ 25 (for hardcopy)