Chapter 11
The contradictions in codes:the Sri-Lankan experience
Kelly Dent
SPOTLIGHT ON SRI LANKA
Sri Lanka was the first South Asian country to change from import substitution, which included protective tariffs, and import controls to an export-oriented economy. In 1977, under then President Jayawardena, regulations protecting local industry gave way to regulations for the protection of foreign investors. This economic policy implemented under the guidelines of the International Monetary Fund (IMF) and the World Bank placed greater emphasis on direct foreign investment in achieving the objective of export-led growth, with numerous more than ...
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