The growing consensus that the design of scientific monetary policy requires targets or rules rather than discretion is explained in the paper, using a macro-theoretic framework. A quadratic loss function constrained by a an expectations augmented Phillips curve has been used to demonstrate that...

This paper examines whether Sri Lanka's monetary policy should be redesigned to cope with the challenges of the forces of globalization. The new insights from scientific monetary policy design contend that implementing the institutional framework of Inflation Targeting and Central Bank...

This paper analyses empirically the changes in Sri Lanka's manufacturing productivity during a period of regime shift from import substituting industrialization to export oriented industrialization. We have used a varying coefficients stochastic production frontier model on a balanced panel data...

This paper reports the results of the application of sector programming techniques for the identification of sectors and projects for promotion by private enterprise. The Industrial Policy Statement (1981) declares that Sri Lanka will foster a mixed-economy. It reserves capital goods and basic...

This paper reports the results of application of the semi-input-output method for ranking 41 industrial sectors of the Sri Lanka economy for development by private enterprise. The paper also reviews the assumptions underpinning the semi-input-output methodology and presents a justification for...

This paper analyses the technical efficiency (TE) of Sri Lanka's manufacturing sector in the Post-Liberalisation (post-1977) period. It applies a recently developed stochastic frontier-efficiency modelling technique to estimate technical efficiency/inefficiency of manufacturing industries using...