Publication:
Increase in Protectionism and Its Impact on Sri Lanka's Performance in Global Markets

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dc.contributor.authorKaminski, Bartlomiej
dc.contributor.authorNg, Francis
dc.date.accessioned2013-09-26T18:02:03Z
dc.date.available2013-09-26T18:02:03Z
dc.date.issued2013-06
dc.description.abstractSri Lanka's external performance defies global trends on two counts. First, the level of openness as measured by the ratio of trade in goods and services, after a strong increase in 1987-95 and stagnation in 1996-2004, sharply fell in 2005-10 to the levels experienced during the era of import substitution. Second, the share of clothing in manufactured exports has remained largely unchanged over the past 25 years. Had there been no economic growth, this would not have been puzzling. The paper argues that these unique features can be traced to (a) the duality of Sri Lanka's economic regime -- the legacy of unfinished structural reforms of a socialist economic regime -- and (b) high and growing protectionism in the 2000s. Sri Lanka's experience shows that the lack of stability in trade policy combined with recently expanding protectionism and the state's micromanagement of investment does not create an institutional/policy setting conducive to rapidly evolving composition of exports and their fast growth. The practice of dealing with weaknesses in trade policies and the business environment through granting exemptions to various activities deemed desirable by the authorities only exacerbates distortions and creates more fertile ground for rent seeking. Without a radical overhaul of the current policy framework shaping interaction of Sri Lankan businesses with global markets, economic growth may be reduced, if not reversed.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/06/17933848/increase-protectionism-impact-sri-lankas-performance-global-markets
dc.identifier.doi10.1596/1813-9450-6512
dc.identifier.urihttps://hdl.handle.net/10986/15870
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 6512
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectBUSINESS ENVIRONMENT
dc.subjectEXPORTS
dc.subjectGLOBAL MARKETS
dc.subjectIMPORT SUBSTITUTION
dc.subjectINVESTMENT MICROMANAGEMENT
dc.subjectPROTECTIONISM
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE POLICY
dc.titleIncrease in Protectionism and Its Impact on Sri Lanka's Performance in Global Marketsen
dspace.entity.typePublication
okr.crossref.titleIncrease in Protectionism and Its Impact on Sri Lanka's Performance in Global Markets
okr.date.disclosure2013-06-07
okr.date.doiregistration2025-04-10T12:05:33.356039Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2013/06/17933848/increase-protectionism-impact-sri-lankas-performance-global-markets
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid115391468303094483
okr.identifier.doi10.1596/1813-9450-6512
okr.identifier.externaldocumentum000158349_20130627085946
okr.identifier.internaldocumentum17933848
okr.identifier.reportWPS6512
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/06/27/000158349_20130627085946/Rendered/PDF/WPS6512.pdfen
okr.region.administrativeSouth Asia
okr.region.countrySri Lanka
okr.topicInternational Economics and Trade::Trade Policy
okr.topicInternational Economics and Trade::Free Trade
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicEconomic Theory and Research
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicMacroeconomics and Economic Growth
okr.unitTrade and International Integration Team, Development Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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