Download or read book Saving and Growth in Sri Lanka written by Constantino Hevia and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of its long-standing civil war, Sri Lanka is keen to reap the social and economic benefits of peace. Even in the middle of civil conflict, the country was able to grow at rates that surpassed those of its neighbors and most developing countries. It is argued, then, that the peace dividend may bring about even higher rates of economic growth. Is this possible? And if so, under what conditions? To be sure, Sri Lanka's high growth rate in the past three decades did not come for free. It took an increasing effort of resource mobilization in the country, with a rise in national saving from 15 percent of gross domestic product in the mid-1970s to 25 percent in 2010. This rise in national saving was fundamentally fueled and sustained by the private sector. In the future, however, the private saving rate is likely to decline because the demographic transition experienced in the country is bound to produce higher old dependency rates in the next two decades. However, the public sector has much room for reducing its deficits and increasing public investment. Similarly, external investors are likely to encounter attractive and profitable investment projects in the coming years in a reformed and peaceful environment. The government of Sri Lank has two goals regarding these issues. First, increasing public saving to 1.5 percent of gross domestic product by 2013; and second, increasing international investment in the country by letting the current account deficit increase to 4-5 percent of gross domestic product in the coming years. If these goals are achieved, what can be expected for growth of gross domestic product in the country? To answer this question, this paper presents a neoclassical growth model with endogenous private saving, calibrates it to fit the Sri Lankan economy, and simulates the behavior of growth rates of gross domestic product and related variables under different scenarios. In what the authors call the Reform Scenario, total factor productivity would increase from 1 to 1.75 percent per year. This would produce a gross domestic product growth rate of about 6.5 percent in the next 5 years, 4.6 percent by 2020, and 3.5 percent by 2030, the end of the simulation period. This robust growth performance would be supported at the beginning mostly by capital accumulation but later on mainly by productivity improvements.
Download or read book Promoting Economic Growth in Sri Lanka written by Sadiq Ahmed and published by . This book was released on 1995 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Open and Nimble written by Daniel Lederman and published by World Bank Publications. This book was released on 2017-11-08 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, Open and Nimble, systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies, however, do tend to be highly open to both international trade and foreign direct investment, have highly specialized export structures, and have large government expenditures relative to their Gross Domestic Product. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, this export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that small economies tend to face more volatility on average as external volatility permeates national economic life. Yet small economies tend to compensate for their export concentration by being nimble in the sense of being able to change their production and export structure relatively quickly over time. Moreover, limited territory plays a role in shaping how economies are affected by natural disasters, even when the probability of facing such disasters is not necessarily higher among small than among large economies. The combination of large governments with macroeconomic volatility seems to be associated with low national savings rates in small economies. This combination could be a challenge for long-term growth if productivity growth and foreign investment do not compensate for low domestic savings. The book finishes with some thoughts on how policy makers can respond to these issues through coordinated investments and regional integration efforts, as well as fiscal policy reforms aimed at both increasing public savings and conducting countercyclical fiscal policies.
Download or read book Returns to capital in microenterprises evidence from a field experiment written by Christopher Woodruff, David McKenzie, Suresh de Mel and published by World Bank Publications. This book was released on 2007 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Small and informal firms account for a large share of employment in developing countries. The rapid expansion of microfinance services is based on the belief that these firms have productive investment opportunities and can enjoy high returns to capital if given the opportunity. However, measuring the return to capital is complicated by unobserved factors such as entrepreneurial ability and demand shocks, which are likely to be correlated with capital stock. The authors use a randomized experiment to overcome this problem and to measure the return to capital for the average microenterprise in their sample, regardless of whether they apply for credit. They accomplish this by providing cash and equipment grants to small firms in Sri Lanka, and measuring the increase in profits arising from this exogenous (positive) shock to capital stock. After controlling for possible spillover effects, the authors find the average real return to capital to be 5.7 percent a month, substantially higher than the market interest rate. They then examine the heterogeneity of treatment effects to explore whether missing credit markets or missing insurance markets are the most likely cause of the high returns. Returns are found to vary with entrepreneurial ability and with measures of other sources of cash within the household, but not to vary with risk aversion or uncertainty.
Download or read book Sri Lanka written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-12-10 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews economic and policy developments in Sri Lanka during 1996–98. Despite the slowdown in world trade and economic growth, Sri Lanka’s economy grew in 1998 at close to its historic average rate. The recorded 43⁄4 percent growth in real GDP was lower than 1997 when the economy was recovering after a bad harvest. In the first twelve months following the outbreak of the Southeast Asian crisis, Sri Lanka was helped by reduced export competition and lower commodity prices. But by the middle of 1998, growth in Sri Lanka started to slow markedly.
Download or read book The Sri Lankan Economy written by Prema-chandra Athukorala and published by Asian Development Bank. This book was released on 2017-10-01 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a pivotal period in Sri Lanka's economic development. The end of conflict opens a door for accelerated economic growth and poverty reduction. Reform is needed to regain momentum because fiscal imbalances and rising public debt could jeopardize macroeconomic stability. The economy would benefit from significant trade and commercial policy reform. The labor market suffers from sluggish growth of formal sector employment and from skills mismatches, which can be addressed by changes in education policy and systems. The book analyzes these and related critical constraints on the Sri Lankan economy, and proposes a set of policy reforms that would lay the foundations for more rapid and inclusive development.
Download or read book South Asian Economic Development written by Moazzem Hossain and published by Psychology Press. This book was released on 1999 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: The notion that South Asian economies have tended to be less successful than those of East Asia is critically examined and the reasons why discussed. Countries covered include Pakistan, India, Bangladesh and Sri Lanka. Key issues examined: * agriculture and rural development * labour market and human resource development * trade and industry policies * foreign investment and technological capabilities * foreign aid and economic development * financial development and economic performance * poverty, inequality and economic development * regional economic co-operation * 'green' development.
Download or read book Sri Lanka written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-09-26 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper focuses on the fiscal position of Sri Lanka. The standard analysis shows that, prior to the adjustment announced in the 2002 budget, fiscal policy was clearly unsustainable, leading to a rising debt-to-GDP ratio. The paper looks at external debt and complements the analysis of the public debt dynamics. The baseline scenario shows that debt ratios decline significantly in the medium term, as a result of strong growth founded on renewed peace and political stability, far-reaching structural reforms, and stable macroeconomic conditions.
Download or read book Growth and Social Progress in Sri Lanka written by and published by . This book was released on 1991 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Programming and Policy written by S. Rajcoomar and published by International Monetary Fund. This book was released on 1996-05-26 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, by a staff team in the IMF Institute, contains a series of workshops that introduce the process of formulating a hypothetical macroeconomic and structural adjustment program, which is a central element in the financial programming courses offered by the IMF Institute. In addition to elaborating key concepts for the four major sectoral accounts, the workshops are designed to allow the development of a step by step reference scenario for Sri Lanka.
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Download or read book Economic Policy in Sri Lanka written by Saman Kelegama and published by SAGE. This book was released on 2004-12-08 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume, written by well-known economists and social scientists, shed light on the intense national debates that accompanied the making of policy decisions in Sri Lanka. Studying the country's economy under six main headings: the ideology and strategy of economic development; macro-economic policy; the development of agriculture, industry and technology; employment and labour; institutional issues and governance; and social welfare, the book presents a comprehensive picture of contemporary Sri Lanka's economy.
Download or read book Undermining Rural Development With Cheap Credit written by Dale W Adams and published by Routledge. This book was released on 2021-11-28 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1985, twenty-three chapters are brought together in 4 parts dealing with, respectively, problems in rural finance, interest rate policies, politics and finance, and new directions for rural financial markets. In an introduction it is argued that cheap and abundant credit is often regarded as essential for rural development but that actions taken on the basis of this assumption have given disappointing results. Low-interest policies and the improper use of financial markets are seen as the principal reasons for this. It is recommended that higher and more flexible interest rates are allowed and that little or no attention is given to target loans. Informal lenders are thought to offer valuable services therefore they should not be discouraged. More emphasis should be put on voluntary savings mobilization and access to formal loans by non-farm rural firms. It is concluded that many traditional agricultural credit programmes are counterproductive and that attractive product and input prices together with higher yields would be more powerful in stimulating agricultural development.
Download or read book Finance and Development written by Christopher J. Green and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this new book a group of 18 distinguished authors presents comprehensive surveys of current issues in the field of finance and development. . . This book nicely bridges the gap between general research on the role of finance for economic growth and the role finance plays for developing economies and poverty reduction. . . Moreover, the authors identify a great number of promising ideas for future research. . . Ryszard Kokoszczynski, SUERF Newsletter The European Money & Finance Forum In the last two decades, the role of finance in the development process has become a major topic of research and debate. Although it is widely agreed that there is an important link between the two, there is much less consensus on the exact nature of the relationship. Is financial development a prerequisite for general economic development, or is it a more passive by-product of the development process? In this valuable new book, a distinguished group of authors takes stock of the existing state of knowledge in the field of finance and the development process. Each chapter offers a comprehensive survey and synthesis of current issues. These include such critical subjects as savings, financial markets and the macroeconomy, stock market development, financial regulation, foreign investment and aid, financing livelihoods, microfinance, rural financial markets, small and medium enterprises, corporate finance and banking. This book will be accessible to postgraduate and advanced undergraduate students of finance and development. It will also be an essential reference source for all professionals and academics working in this area who want to learn how finance can contribute to the development process and poverty reduction.
Download or read book Sri Lanka written by Asian Development Bank and published by . This book was released on 2019-12-23 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report highlights Sri Lanka's energy sector structure, government strategy, policy, and development plans, and complements the Sri Lanka-ADB country partnership strategy for 2018-2022. It outlines ADB's experience and strategy in the country's energy sector and provides background information about investment and technical assistance operations. The report also reviews previous support from ADB and other development partners.
Download or read book National Saving and Economic Performance written by John B. Shoven and published by University of Chicago Press. This book was released on 2009-02-15 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past decade has witnessed a decline in saving throughout the developed world—the United States has the dubious distinction of leading the way. The consequences can be serious. For individuals, their own economic security and that of their families is jeopardized. For society, inadequate rates of saving have been blamed for a variety of ills—decreasing the competitive abilities of American industry, slowing capital accumulation, increasing our trade deficit, and forcing the sale of capital stock to foreign investors at bargain prices. Restoring acceptable rates of saving in the United States poses a major challenge to those who formulate national economic policy, especially since economists and policymakers alike still understand little about what motivates people to save. In National Saving and Economic Performance, edited by B. Douglas Bernheim and John B. Shoven, that task is addressed by offering the results of new research, with recommendations for policies aimed to improve saving. Leading experts in diverse fields of economics debate the need for more accurate measurement of official saving data; examine how corporate decisions to retain or distribute earnings affect household-level consumption and saving; and investigate the effects of taxation on saving behavior, correlations between national saving and international investment over time, and the influence of economic growth on saving. Presenting the most comprehensive and up-to-date research on saving, this volume will benefit both academic and government economists.
Download or read book Financial Development and Economic Growth written by Niels Hermes and published by Routledge. This book was released on 2013-04-15 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection brings together a collection of theoretical and empirical findings on aspects of financial development and economic growth in developing countries. The book is divided into two parts: the first identifies and analyses the major theoretical issues using examples from developing countries to illustrate how these work in practice; the second part looks at the implications for financial policy in developing countries.
