Private Sector Development, Privatization, and Industrial Policy

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  • Publication
    Creating Markets in Sri Lanka : Private Sector-Led Inclusive Growth from Islands of Excellence: Country Private Sector Diagnostic
    (World Bank, Washington, DC, 2022-07) International Finance Corporation
    Sri Lanka is a country of paradoxes. With the lowest poverty rates, best social indicators, and highest per capita income in South Asia, Sri Lanka’s economic performance since independence had generally been hailed as a success before the current debt crisis. However, past performance occurred amidst many distortions and an economy less open than its peers, largely reflecting the strong involvement of the state in the economy. Even if this interventionist model of economic policy and the presence of many state-owned enterprises (SOEs) served the country well through the years of conflict and their aftermath, it is no longer sustainable. Indeed, after the rapid growth of the peace dividend in the years post-2009, the economy has faltered and progress on social indicators has stagnated. Many of market distortions remain and have been exacerbated by COVID-19. Understanding how, despite these handicaps, Sri Lanka achieved positive economic and social outcomes in the past provides the building blocks of a realistic, forward-looking growth strategy, one of the objectives of this Country Private Sector Diagnostic (CPSD). The research for this report was conducted prior to the current crisis, but the recommendations remain relevant to implementing public policies that will support private sector-led inclusive and sustainable growth.
  • Publication
    Creating Markets in Nepal: Country Private Sector Diagnostic
    (International Finance Corporation, Washington, DC, 2018-11) International Finance Corporation
    The purpose of this Country Private Sector Diagnostic (CPSD) is to assess opportunities and constraints holding back private sector growth. It conducts a diagnostic of the main cross-cutting constraints to private sector competitiveness and growth through data analysis, synthesis of existing research and stakeholder consultations. This exercise also identifies sectors that could play a key role in enabling Nepal’s growth, by either enabling other sectors or capitalizing on Nepal’s inherent comparative advantage to tap global markets. Sector deep dives help identify private sector constraints specific to these sectors, including sector-specific manifestations of cross-cutting constraints. The CPSD analysis finally identifies key recommendations on policy reforms and investments in public goods (including public-private partnerships) that could enable growth of a competitive private sector.