Development of the Financial System of Sri Lanka Since Independence in 1948
R. P. C. R. Rajapakse (2003) 'Development of the Financial System of Sri Lanka Since Independence in 1948'. Social System Research, Ritsumeikan University Vol. 6 pg 51-86
36 Pages Posted: 11 Nov 2016
Date Written: 2003
Sri Lanka has taken several steps towards the development of the financial sector of the country, with the objective of achieving both internal and external stability. Specially, after the economic liberalization 1977, several new financial institution were created and steps were taken to develop the financial markets. However these markets are in their infancy and measures needed to be taken to develop them to the extent that they will help provide capital for the local enterprises. The exchange rate was changed from a fixed peg to a managed float and finally to a free float ,with a view to achieving a realistic level for the rupee that would encourage exports from the country.
Keywords: Sri Lanka, Financial sector, Exchange rate, Monetary policy
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