The purpose of this article is to suggest how Sri Lanka can undertake significant structural reforms in the aftermath of this global pandemic and place herself in a position of increased economic strength.
Apart from the money the government will have to spend towards the medical management of the virus, it will have to spend a significant sum of money on social welfare and also support the corporate sector in the coming months. Economists are unable to estimate the sum of money that will be required for this purpose...
When Adam Smith wrote ‘The Wealth of Nations’ in 1776, the richest country in the world was four times richer than the poorest one. Today, Singapore is over 110 times richer than Burundi. What could possibly explain such an extreme divergence of the wealth of nations?
Economists have shown that these differences are too large to be explained by differences in the availability of land or capital – including human capital. So, they ascribe it to differences in the productivity with which land and capital are used,...
Reforming immigration law to allow free movement of people through progressive laws could tackle Sri Lanka’s chronic economic challenges of narrow exports, low Foreign Direct Investment (FDI) and limited innovation, a top expert said yesterday, outlining many examples of countries that have experienced growth spurts by opening up their labour markets.
Prof. Ricardo Hausmann is Director of Harvard’s Center for International Development and Professor of the Practice of Economic Development at the Kennedy School of Government. Delivering...
Making a compelling case against tariff regimes, renowned Harvard economist Dr. Robert Lawrence yesterday called for a simpler system with significantly lower tariffs in order to increase Sri Lanka’s exports.
Delivering a lecture on protectionism organised by the Advocata Institute in Colombo, Prof. Lawrence, who is the Faculty Chair of the Practice of Trade Policy program at Harvard University’s Kennedy School, said that imposing tariffs is the wrong way to raise revenue, highlighting the need for tax reforms with...
It is not just because I am from Venezuela that I see Sri Lanka with admiration and envy. The island has made more progress in human development than any other in South Asia. It has reduced poverty in a pretty dramatic way. It has many reasons to be proud of its achievements. But anything that is worth doing, is worth doing better. The Center for International Development at Harvard University is collaborating with the Government of Sri Lanka to work on a strategy to make progress faster, more sustainable and more inclusive.
As part of its economic diplomacy role, the Ministry of Foreign Affairs has undertaken a unique initiative to design and implement an online Economic Diplomacy Course catering to Sri Lanka's specific economic needs and challenges.
This Course is a result of the Foreign Ministry's collaboration with the Department of Commerce and Harvard University, one of the most prestigious Universities in the world.
The ceremonial launching of the Course was held today, 7th March 2017 at the Ministry of Foreign Affairs presided over by the Acting Minister of Foreign Affairs Harsha de Silva. Also participating at the event were Mrs. Sonali Wijeratne, Director General, Department of Commerce; Professor Matt Andrews, Senior Lecturer, Harvard University Center for International Development (HCID), invited guests and officials selected to take part in the Course.
The Sri Lanka Export Development Board (EDB) is collaborating with the Harvard Center for International Development on a project to identify and rapidly catalyse new or emerging export sectors and enlarge Sri Lanka’s export basket.
The initiative is being held under the guidance of the Ministry of Development Strategies and International Trade, the Sri Lanka Export Development Board (EDB) and the Board of Investment (BOI).
On the request of State Minister of International Trade, Sujeewa Senasinghe, last week a meeting with Prof....
Ricardo Hausmann, Growth Lab research - Daily News
Professor Ricardo Hausmann of the Harvard Kennedy School of Government delivered a lecture entitled “Increasing your chances of success while leaving your comfort zone: adapting Sri Lanka’s growth model to new constraints,” yesterday at BMICH.
Hausmann, who runs the Kennedy School’s Center for International Development, and his team have been studying Sri Lanka’s economy for the past year. His lecture spanned over two hours and covered the country’s current economic shortcomings and its paths to increased...
Ricardo Hausmann, Growth Lab research - Lanka Business Online
Sri Lanka should rethink its immigration, diaspora and product development policies so as to encourage more complexity in exports, economist Ricardo Hausmann of Harvard University said in Colombo on Monday.