In 1977 Sri Lanka was the first of the South Asian countries to decisively move away from the protectionist import-substitution trade policies that for many years had damaged their economic efficiency and hobbled their economic growth. Albeit with back-tracking episodes, Sri Lanka's liberalising...

The end of the ethnic conflict in Sri Lanka in 2009 generated widespread expectations of a period of sustained economic growth, building on the achievements of the liberalisation reforms sustained over three previous decades. However, recent developments have dampened that optimism, rekindling...

In the 1970s-1980s, monetary authorities were usually more active than their fiscal counterparts. After some crises, fiscal policy is currently regaining its role in implementing economic policies. As a sequel to estimating the Indian monetary reaction function, this paper models and estimates a...