Tag: Has Sri Lankas Crisis-driven Import Controls Incentivised Import Substitution

By Dr Asanka Wijesinghe and Nilupulee Rathnayake: In response to the economic crisis, Sri Lanka implemented import controls that expanded significantly by the end of 2022, accounting for approximately 30% of the country’s total import value (Figure 1). The controls affected various categories, including consumption goods (46%), intermediate goods (31%), and capital goods (24%). As […]