Browsing by Author "White, Howard"

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    External Shocks and Domestic Policy Adjustment: The Case of Sri Lanka
    (The Indian Institute of the Economics, 1994) White, Howard; Kelegama, Saman
    A major methodological problem in the analysis of adjustment policies is the separation of the effects of the policies themselves from those changing external conditions. But such a separation can be clearly made by decomposing the sources of change in the current account. In this paper authors apply methodology, with a number of important modifications to the experience of Sri Lanka for the period 1971 to 1991. By extending the decomposition analysis to cover the capital account authors are able to address a further important issue in the adjustment debate: namely distinguishing the impact of external finance given to support domestic policy adjustment efforts from that of the efforts themselves.
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    External Shocks, Adjustment Policies and the Current account: The Case of Sri Lanka, 1971-1991
    (Institute of Policy Studies, 1993) White, Howard; Kelegama, Saman
    A major methodological problem in the analysis of adjustment policies is the separation of the effects of the policies themselves from those of changing external conditions. In this study authors’ use, with some significant modifications, decomposition approach to the context of Sri Lanka for the period 1971 to 1991. The paper initially presents the methodology and its application to Sri Lanka. It also incorporates discussion of the debates concerning Sri Lanka’s macroeconomic performance in the 1980s and the impact of adjustment policies more generally. Finally the paper draws out the conclusions and policy implications of authors’ analysis.
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    External Shocks, Adjustment Policies, and the Current Account: The Case of Sri Lanka, 1971-1991
    (Institute of Policy Studies, 1993) White, Howard; Kelegama, Saman
    A major methodological problem in the analysis of adjustment policies is the separation of the effects of the policies themselves from those of changing external conditions. In this study authors’ use, with some significant modifications, decomposition approach to the context of Sri Lanka for the period 1971 to 1991. The paper initially presents the methodology and its application to Sri Lanka. It also incorporates discussion of the debates concerning Sri Lanka’s macroeconomic performance in the 1980s and the impact of adjustment policies more generally. Finally the paper draws out the conclusions and policy implications of authors’ analysis.
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    Nominal and real devaluation during trade liberalization: aid-induced dutch disease in Sri Lanka
    (1991-06) White, Howard; Wignaraja, Ganeshan
    In 1977 the Sri Lankan government embarked on an extensive programme of liberalization, an important element of which was devaluation to ensure a competitive real exchange rate. However, the eighties were marked by an increasing divergence between the real and nominal exchange rates, the depreciation of the former not being matched by similar movements of the latter. This paper presents an econometric model of real exchange rate behavior in Sri Lanka. Amongst other things, it is shown that increased aid inflows have made a significant contribution to the appreciation of the real exchange rate.
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    Privatization and the Public Exchequer: Some Observations from the Sri Lankan Experience
    (United Nations ESCAP, 1997) White, Howard; Kelegama, Saman
    This paper examines the Sri Lankan experience with privatization from 1989 to 1996 and argues that its short-run fiscal benefits have not been significant even when the direct and indirect costs of privatization are ignored. Fiscal gains from privatization should be considered long-term benefits and greater importance should be given to designing a transparent privatization programme to promote competition and to stimulate the capital market. Such a strategy can address the problem of the fiscal burden of subsidizing State-owned enterprises more effectively than a privatization programme that is designed for speedy execution in a non-transparent manner or one whose objective is to achieve revenue targets according to short-term budgetary needs.