What do you propose to develop Sri Lanka like developed countries? (What strategies do you propose?)
Sri Lanka is a small open economy with a land area of 65,610sqkm, closed to the Indian subcontinent, is located in-between north latitude 5’-10’ and east longitude 79’-82’. The population was almost twenty million and literacy rate was 89.1% and 92.7% in 2006 in female and male and life expectation at birth (2006) was 68.2, 75.8 in respectively. In 2008, as a share of G.D.P., agriculture sector took a 12.1% portion; industrial sector took a 28.4% while Service sector took 59.5%. The employment consisted agriculture 45%, Industrial 40%, and Service 55%. In addition to that, per capita Income was US$ 2014 in year 2008 and Sri Lanka is a middle lower income country[1].
There is no universal definition for development. According to World Bank web they explain, ‘Development is also the qualitative transformation of a whole society a shift to new ways of thinking and correspondingly, new relations and new method of production’.[2]
Encyclopedia of Britannica defines it, ‘a change (usually an increase) in size of system or structure…’[3]
Mean while Wikipedia.org web explains economic development as, ‘the development of economic wealth of countries or regions for the well-being of their inhabitants. It is the process by which a nation improves the economic, political, and social well being of its people. From a policy perspective, economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and or retaining jobs and supporting or growing incomes and the tax base...”[4] According to Encyclopedia Britannica, they explain economic development as, ‘the process whereby simple, low-income national economies are transformed into modern industrial economies…’
With these interpretations we can say, economic development means for a long time continue economic growth; at least 10 years, of a country. Here we consider about qualitative as well as quantitative improvements of its (country or region) people with economically, socially and politically. Then primitive and poor economies can evolve into sophisticated and relatively prosperous ones. Economic growth, by increasing a nation's total wealth, also enhances its potential for reducing poverty and solving other social problems.
With these definitions, we can assume the development is the growth of all parts of the entire system that is socially, economically and politically. We can measure it using various phenomena or methods. Generally, the scholars use various methods to measure these features and they do whole system qualitatively and quantitatively.
Economic development first became a major concern after World War II. As the era of European colonialism ended, many former colonies and other countries with low living standards came to be termed underdeveloped countries, and other countries became developed countries. As living standards in most poor countries began to rise in subsequent decades, they were renamed the developing countries.
Developing countries are usually categorized by per capita income criteria and economic development is usually thought to occur as per capita incomes rise. A country's per capita income is the best available measure of the value of the goods and services available, per person, to the society per year.
3. World Economies patterns
In the world, there is no two places equal. Therefore we called world is unique. Every thing is same. Country to country, economic patterns are also same. We can not see equal economic systems with equal decisions and weights. The resources are limited and human wants are unlimited and people want to maximize their gains. So that all governments have to answer, What, How and To whom should be produced. Therefore they select some systems to settle these problems and economic systems depend on that.
Some scholars classified world[5] as, First world countries (United State of America, Canada, United Kingdom), Second world countries (U.S.S.R,), and third world (Sri Lanka, Madagascar, Peru, India) countries. Now we can not see the second world or socialistic countries.
Some were classified capitalistic countries (U.S.A., Japan and Australia), Marxism countries (North Korea, Cuba and China) and Mixed (Sri Lanka) countries.
Another classification was northern hemisphere (U.S.A., Norway and Japan) countries southern hemisphere (Liberia, Sudan and Peru) countries.
Another classification was developed[6] countries (Switzerland, Sweden and German), developing[7] or underdeveloped countries (India, Sri Lanka and Pakistan), and emerging develop countries (Brazil, Russia, India, Mexico, and China)[8] countries. The three worlds as they were separated during the Cold War era, each with its respective allies.
In addition to that, there are three types of economic systems exist, each with their own drawbacks and benefits; the Market Economy, the Planned Economy and the Mixed Economy.
Market Economy - In a market economy, national and state governments play a minor role. Instead, consumers and their buying decisions drive the economy. In this type of economic system, the assumptions of the market play a major role in deciding the right path for a country’s economic development.
Market economies aim to reduce or eliminate entirely subsidies for a particular industry, the pre-determination of prices for different commodities, and the amount of regulation controlling different industrial sectors.
The absence of central planning is one of the major features of this economic system. Market decisions are mainly dominated by supply and demand. The role of the government in a market economy is to simply make sure that the market is stable enough to carry out its economic activities properly.
Planned Economy - A planned economy is also called a command economy. The most important aspect of this type of economy is that all major decisions related to the production, distribution, commodity and service prices, are all made by the government.
The planned economy is government directed, and market forces have very little say in such an economy. This type of economy lacks the kind of flexibility that is present a market economy, and because of this, the planned economy reacts slower to changes in consumer needs and fluctuating patterns of supply and demand.
The planned economy is government directed, and market forces have very little say in such an economy. This type of economy lacks the kind of flexibility that is present a market economy, and because of this, the planned economy reacts slower to changes in consumer needs and fluctuating patterns of supply and demand.
On the other hand, a planned economy aims at using all available resources for developing production instead of allotting the resources for advertising or marketing.
Mixed Economy - A mixed economy combines elements of both the planned and the market economies in one cohesive system. This means that certain features from both market and planned economic systems are taken to form this type of economy. This system prevails in many countries where neither the government nor the business entities control the economic activities of that country – both sectors play an important role in the economic decision-making of the country.
In a mixed economy there is flexibility in some areas and government control in others. Mixed economies include both capitalist and socialist economic policies and often arise in societies that seek to balance a wide range of political and economic views.
4. What are the strategies can be used for Sri Lanka’s development?
All countries in the world use various strategies for their development. Some countries are introduced new strategies and the rests followed them and finally all try to achieve their development goals.
To day in the existing world, we can clearly see developed countries, developing countries and emerging developing countries. These classification accepted World Bank and International Monitory Fund. Developing countries always try to break their barriers and try to reach the developed or, emerging developed countries level or above. Sri Lanka is a mixed economic country and always strategies follow both market economy and socialistic economic strategies and always try to achieve a standard level. Therefore we also have to think and have to change or have to follow some strategies for the sake of Sri Lanka’s development.
Hear we can discuss which type of strategies Sri Lanka gets for the development. We can study it in four major categories. That is,
Ø Political development strategies
Ø Socio- Economics development strategies
Ø Sustainable development strategies
This is very important to develop a country. If country can not make a stable situation, definitely development speed decrease. We can clearly see this situation from our neighbor country Pakistan and most African countries like Congo, Zimbabwe, and Madagascar etc. In these countries, separatism, political party collisions for throne, military conspiracy and terrorism went deeper and autocratic government can see. In these countries, we can not see the political freedom and political stableness. These are the most important things for economic development and growth.
In U.S.A., Britain, Japan and India we can see an elected government and they represent the people wants. They give political, thinking, and speaking freedom for each other and all do work without fear. So that not only people in the country, but investors also seek about the calmness for their business and investment. If there is any fluctuations in politically, it tarnish the country’s image and it negatively affect to country’s economy. Therefore always try to stabilize the political stableness. When investors reduce investing, the total investment reduces and it affect to employment, poverty, G.D.P. per capita income, and economic growth etc.
If we consider about few liberal countries, like U.S.A., Japan, Canada and Sweden, in these countries, they have more freedom than Pakistan, Iran, Iraq, Uganda, Sri Lanka and Zimbabwe. These countries have few political parties. But in latter part, they can not work without any fluency. If they work freely, they have to face some difficulties. Not only kidnapping, assaulting, killing, firing assets, revenge and avenge but also civil wars or separatisms are common to these countries.
With such bad situation, nobody likes to work (invest) or live and, these things are directly affect to the market and economy. With that fear, none of investors like to invest. Therefore unemployment, lower economic growth rate, social unrest and inequality and increasing poverty come out and it make some issues through the society. So that, we can not neglect the political freedom, and it make more sensitive task in the country’s development.
Political leadership can attract any kind of investment to the country. Investors and share holders always show that situation as they are vigilant.
A favorable investment environment includes many factors that make investing in one country more profitable and less risky than in another country. Political stability is one of the most important of these factors. Both domestic and foreign investors are discouraged by the threat of political upheaval and by the prospect of a new regime that might impose punitive taxes or expropriate capital assets. As a result a country can fall into another vicious circle, one seen historically in some Latin American countries. Political instability scares away new investments, which prevents faster economic growth and improvements in people's economic welfare, causing even more dissatisfaction with the political regime and increasing political instability. Falling into this vicious circle of political instability can seriously impede efforts to boost economic development and reduce poverty. Therefore Sri Lanka must develop the political stability than what now has.
Stop the war strengthen the diplomatic service- That makes some disturbances when a country develops. Because if there any conflict or unstable situation in the country, it can not work utmost efficiently. Governments have to spend more and more money for that. In Sri Lanka the government spent a large portion of her G.D.P. to non-stop war. Mean while terrorist destroy and loots the Sri Lanka’s property and image. People can not do any thing safely. They do every thing with in fear. So that none of investors come. Some government advises their citizens to avoid travelling or announced as a no safe country. That will affect to tourism. This makes affect strongly direct and indirect way to the economy. Therefore we have to settle the war some how or other.
On the other hand foreign diplomatic service should be strength. Today we can not satisfy with there service. If they work correct way definitely they can do much work. If they do not do their duty well, people have to get punishment. Therefore government must consider when they give such type of title and must check their capability and always supervising their service.
In most developed countries we can not see such type of crises. The way to development they defeat all these things. Their diplomatic services work well according to their government agenda[9] and we can not see a conflict or civil wars[10]. Therefore most investors attract these countries.
Man is the key components in a society and socio-economic development directly affect to him. So that when we develop socio-economic development indicators definitely it goes to the man. We use some indicators to measure the capacity and compare it with the other countries. Thus Gross Domestic Product, Human Development Index, Per Capita Income, Population Growth Rate, Literacy rate and so on; these are comes under the socio-economic development. In developed countries these indexes are in high levels. But Sri Lanka is moderate.
When a country develops, it must develop both socio-economic sides equally and parallelly in each other. In some countries, like Nigeria, Labia, Saudi Arabia etc.; its G.D.P. or Per Capita Income is too higher, but social or physical indexes are too lower.
On the other hand, like Maldives, Sri Lanka; these countries socio or physical indexes are much better or relatively close to developed countries. But economic indicators are under the appropriate line. So that belongs to developing group
Some countries, like Iceland, Norway, Australia, both indicators are well and so that they came to the higher place from the world HD index.
Therefore we should try to develop our socio-economic indicators. If we discuss about this socio-economic development strategies, we can explain it in various fields. That is,
Human resource development
Education development- This is the most important way to develop a country, as it makes the man’s mind, skills and behavior. Without changing those things, we can not change the existing patterns. Education always helps to innovate and think. Sri Lankan education, followed the British education system from colonial period, is in good position than the other countries in South Asia. We have a well built education system, but still not modify or do not focus the modern market or industrial field. Therefore education system must focus the existing situation
Table 1 Source- Human Development Report 2007-2008 |
On the other hand, the majority got through the secondary education, but due to lack of established tertiary institutes, vocational training institutes and skill development institutes, they can not educate onward. Some one can go abroad and got education paying out side. Finally, that effect to our economy also. Therefore government must have to renew the education system with orientating market and latest country necessary.
Other hand, computer skills, information technology and English knowledge are also much poor in some areas. So that government should start new program to uplift their knowledge and settle the in-equilibrium. In developed countries they use a large portion of GDP for their educational sector. But Sri Lanka use only 2.3 per cent of GDP as government expenditure of education. So that government expenditure must increase that level, as an investment.
Government must have a long term plan and enforce to the parents or owners of the children to send their children to school and should understand their abilities. That will help to increase the literacy rate. Children counseling is too important. Mean while leadership qualities and well behavior patterns should be introduced to them. The poorest children, whose have not sufficient nutritious, must be settle. These things we should do, as they are the back-born of country.
In addition to these, Public security and low is also more important. We have to minimize the briberies and corruptions and minimize the crimes and violating lows. In Sri Lanka with civil war, we can not use the north and east man power in 100 per cent. On the other not only man power but also various resources also can not utilize. All island people live with unstable situation. This unstable situation make man’s mind worse. So that government stabilizes the public security and low. Whole country tempt to work as a one nation. This thing can see in developed countries. In America, there are so many races, religions, languages but all work as Americans. This thing can see France, Australia, and Italy etc. Therefore Sri Lanka should come under one flag.
Infrastructure development
Developing infrastructure is too important for the countries growth and development. Because this is the blood nerve of the development. This pump blood to all parts and all parts can not live with this. So that infrastructure is the key component that we use to develop a country. Invest in infrastructure is a part of the capital accumulation and required for economic development. Here we can discuss this in a few topics.
Roads and highways- This is the basically important thing, as this is the way to transport all kinds of goods and service every where. Not only commodity but also human beings are also transport using this roads and high ways. Savings time and reducing wastage are very valuable to firm. If there is a less trafficked, well built and short ways each can remain time and can reduce their wastage also. Developed highways and quick access attract the investors. The investors all ways analyze the cost benefits and get the utmost decisions. They dislike delaying on the roads. Therefore we should develop the roads and highways. In Sri Lanka along the coastal ling there are too many factories, firms, institutions, service providers. But they can not reach to the Colombo in short. From Galle to Colombo, it will take 3-4 hours. But distance is 115KM. If we have highways or express ways, we can do or go quickly. This situation strongly affect to investors.
On the other hand, if one live in Matara and want to go to Kandy, have to pass Colombo and have to burn his time and money also. In developing countries this is not happen. They link important towns with express ways. Singapore and France is a Classic example. Now in Sri Lanka the government starts new highway roads to Matara-Colombo, Katunayake expressing and so on. This is too important.
Government has to get national policies and long term plan in this manner. Because some people built their own places and invade into government property by force. Removing is a huge problem. Therefore the governors should get the appropriate solutions to settle down.
In addition to that, the provincial roads also should be improved, because every day a large number of labor hours we burnt on the way, due to lack of transportation and traffic.
Some old bridges are too shorter and too older. This also affected in the bad ways. To minimize this government have to rehabilitate these bridges or have to construct new ones like fly-over. In developing countries they use tunnels than the roads. France and United Kingdom are the best example. Mean while we can create tunnels in the junctions and it make easy for pedestrians.
Not only road but also railways should develop. This is the cheapest and saltiest way in the world transportation. A huge bundle or lots of items can bring once and quickly. In India railway is the cheapest media for transportation work. Britain and France link using few railways under the see. But in Sri Lanka, we can not imagine, it is not like that. So that governors should discuss, why in Sri Lankan railway cost too much and must be develop using appropriate techniques. Unnecessary interferes can be see in the government sector. Under-knowledged persons came to power and they recruit unsuitable employees to the work. That should be stopped. Purchasing parts and equipments government must have to supervise their work. Then we can minimize the briberies and buying local inferior items purchasing. Meanwhile rehabilitation of carriages and imports new one immediately are important. Mean while we have use well trained carder for building new carriages. Signal and communication system should be upgrade and must be maintaining well. That will reduce train late, derailment and some other problems. On the other hand Matara- Kataragama rail way line must be extended. Single way must be double way and tracks must be developed to increase the ability of speed. That will remain the time. In developed countries they use bullet trains, electric trains and these run with surprise speed. In Sri Lanka total length is nearly 430Km and we can not run such type of train but we can speed up those we have.
Ports- This is also important for develop Sri Lanka. At present we use the Colombo and Galle harbor for commercial purpose. We can not use Trincomalee and Kankasanture harbors due to war. The ports get the more portion of the government income. But we can not satisfy with that. If we consider about Maldives development, they have no lands, too much natural resources, huge population and so on. But their live standard is higher than Sri Lanka. What was the secret? Secret comes with see and tourism. Therefore we also can defeat this country using our resources. Sri Lanka locate in the see route, that goes west to south. But we mainly use Colombo harbor only. There are few problems with this harbor. The depth is the one problem and other one is the distance form the see route. But if we consider about Hambantota harbor[11] (now it is in constructing), it is in the see route and have a depth for not only modern ships but also in next generation also. Therefore we should develop and extend the Hambantota fort. Not only this fort but also Galle and Trincomali fort also develop to the modern vessels. If we develop Trincomali fort well, it will help to make a good market to our natural resource sand. That will bring more money. Mean while we should upgrading of Colombo fort. Now India tries to make a cannel ‘Sethu Samudram’, as they want to bring the vessels to the country[12]. Therefore we should develop harbors and ports to develop country.
Airport- Airport is also more important to develop a country. It will attract tourism and bring more money through the transportation. Katunayake Bandaranayake Air port is the only International airport we have. If there some thing happens here, we have no solution to settle that problem. So this is the time to develop or built a new international air port. We have few air ports, but due to war we can not use them. If we have few inland airports, we can start internal air line and that will be the easiest way to transport and travel to hear and there. Other hand this may be positively affected to the tourism also. In India they earn lot of money using cable car service. So we should develop the air ports and give authority to public usage.
Electricity- This is also very important to develop a country. With the expansion of industrial sector, the consumption of electricity goes up. So, government has to fulfill that wants and has to increase the voltage volume also. Therefore government has to move to the new sources to get electricity. He should encourage the innovators and scholars for their research about this field. We can use waves[13], coal, wind power, solar power, thermal power, and small or rural power stations. With the existing situation, in future we can not use gigantic reservoirs, as day by day Sri Lanka being an earth quake zone country. On the other hand we can not depend on thermal or coal power due to high price. Now electricity board get a unit of power for near Rs. 40.00 and sell it below Rs. 15.00. This thing can not do continue. So we have to search a new way to get electricity in low price. In Trincomali see there is a good place for wave power, in Hambantota and Puttalama there are many appropriate places for wind power plants. Mean while we can produce solar power due to stereotyped sun shine. On the other hand Upper Kotmale hydro power plant and Medium voltage distribution centers should be starts in the whole country.
Telecommunication and post- these are also much important to develop a country. In Sri Lanka, phone density; Fixed lines per 100 persons 17.1 and all phones (fixed and cellular) per 100 persons 71.9[14]. Post also a do a much work. With the development, by today, we can Cleary see the classic work load reduced due to speedy communication systems. But functions are being increased. When a country developed, its telecommunication and post have to be the media of that.
Major Private, government or dedicated telecommunications networks, such as those used for internal communication and monitoring by major infrastructure companies, by governments, by the military or by emergency services
Health development-
When a country develops, its nation also must fit with that development. They must capable to abstract it. Human development is an indicator of Economic development. Therefore we have to develop the quality of health facilities.
Therefore the government has to reduce; mal-nutrition; various transmitted disease and has to improve the qualities of the health. If we consider about developed countries; like Iceland, Norway, Australia, Canada and Ireland etc. we can clearly see the difference from Sri Lanka. According to HDI report 2007/2008, in Sri Lanka’s life expectation was some what .lower than the developed countries. Other hand, GDP per capita PPP was also much lower. Therefore development index went down. But due to human development indicators increment, our HDI came little bit up.
Therefore if we want to develop, we should have to follow the strategies that developed countries got. We have to rehabilitate hospital and equipment, have to distribute nutritious meals among the necessary persons; like Triposha, have to educate the society how to prevent from diseases, and they should vaccinated correctly. Then we can make a wealth nation. Hear, we have to gain control the ill disease and have to fight against Tb and Malaria to demolish from Sri Lanka.
Saving- saving is also important to a country to be developed. Economists generally assume that people's willingness to save for future consumption grows with their incomes. The poorer people are, the less they can afford to plan for the future and save. Thus in poor countries, where most incomes have to be spent to meet current- often urgent-needs, national saving tends to be low. Low saving hinders desperately needed domestic investment in both physical capital and human capital. Without new investment, an economy's productivity cannot be increased and incomes cannot be raised. That closes the vicious circle of poverty. So that government must involve increasing the saving.
Developing rural area is also important to develop a country. In Sri Lanka, western province gets the largest portion of the economy than the other provinces. It means there is an inequality development in the country; with the distance from capital. Therefore government has to introduce new systems to eradicate the inequality. Here government can introduce some sort of attractive steps to settle this problem. According to that, government can disperse the industrial institutes and industrial zones to the inside of the country and can give tax release period to develop their industries. Government can start new industrial zone in selected area as well as free trade zone. Not only have that, government can helps to handy-craft industries in rural level and help to open the market for them.
If we consider about India and China with their development secrets; the main reason is not the big industries. They first developed the domestic industries and that made the road to local industries. In this case government should meddle to up-lift the people lives using taxation. In china a large number of productions came as a domestic product. Government makes the people’s mind to purchase local product. Therefore they could stand in a short time. The cotton industry in India came in that manner. Therefore I propose to Sri Lankan government to follow these countries.
In Sri Lanka some areas are ample with some resources. So we can use that system in those places, as they are skilled and well trained for that.
Agricultural and industrial development-
Local agriculture farming and industrial development are more valuable to a country. If country can be a self sufficient, definitely they should not be afraid. With the globalization and international trade, the one who has money can buy it. As an economy, inter-dependence is not so good[15]. Therefore government tries to develop the Sri Lankan agricultural and industrial fields. Then we can reduce the dependency on other country. Japan, Australia, U.S.A. and other developed countries produce over product and sell them to the other countries in high prices. We also buy those products and give up our industries. Therefore government help to protect local industries and these industries should be efficient and effective. In our agriculture, we should use hybrid productions, latest plantation systems, adequate water, fertilizer and chemicals. Other hand, when reaping and stocking harvest we had to decrease the wastage. In that harvest selling period, government must interfere with that work, and control the imports using taxation.
Fishery industry also we can develop. We have a giant sea and this area is ample of fish. But still we import dried fish, tinned fish and other fishery product. So government has to start new project to produce fishery product here and to stable the life secure of the fishermen. We can use new technique to catch a lot of fishes, can use big boats or trollers with deep freezers, and can use some technological equipment to identify the groups of fishes and so on. Then we can earn and save a large portion of money.
In addition to that, we can develop the industries also. Then it will remain more money. Sri Lanka has not oil and coal, but she has well resources. We have Phosphate deposits, sands and mineral deposits, good climate and lands, but our people are laziness. So that government has to settle these using education systems.
We have good, fertilized fields. So we have to encourage the people to grow all kind of things that we import. Then we can surview ourselves. On the other hand we must innovate new hybried seeds and technology, that will increase the harvest. in rural area, still farmers used traditional methods for their agricultural product. Therefore we have to introduce new methods and have to share the latest knowledge with them. In addition to that we must develop the small scale farming industry also.
This is the most important latest strategy when we want to keep development for a long time. Sustainable development means, while we consuming some thing, we remain some portion to the next generation. According to ‘Beyond Economics Growth’ they define it as, ‘meets the needs of the present without compromising the ability of future generations to meet their own needs’ To be sustainable, economic growth must be constantly nourished by the fruits of human development such as improvements in workers' knowledge and skills along with opportunities for their efficient use: more and better jobs, better conditions for new businesses to grow, and greater democracy at all levels of decision-making.
If we considerable about Oil Countris in western Asia, now they earn lot but after 30-40 years oil resource may be dried. How they can run their economy?
While we consume natural resources, we have to save it for next generation. Then we can reduce climatic changes also. In recently, scientist recovered, that the see level go high due to world temperature go up. How can we face to that? We have no more lands, we are surrounding sea and no body can live in safly in coastle zone. We have to think much more. So that economical, social and environmental development should go up with catching hands.
In the world we can clearly see some grouped countries. Some are developed, some are underdeveloped or developing and some are emerging developing countries. As a country, Sri Lanka is grouped as developing country. If we want to reach the developed country level, we have to succeed few barriers. These are consisting political, social, economics and so on. While us succeeding these barriers we have to do it in sustainable way. Then we can enjoy for a long time. The Sri Lanka government is the policy maker to the country and she has the key to open the door to the nation.
1. ‘What is Development’, Beyond Economics Growth, 2008,
2. Central Bank Report, (2008), Central Bank Sri Lanka.
3. ‘Development’. (2009). Encyclopedia Britannica. Ultimate Reference Suite. Chicago: Encyclopedia Britannica.
4. Millennium development goals- country report, (2005), Sri Lanka
5. http://www.emergingmarket.com
6. http://hdistats.undp.org
7.
Economies by Region Figure 1 Source: http://en.wikipedia.org |
9.
10. http://www.worldbank.org
11. http://www.economywatch.com
2005 | Life expectancy at birth, | GDP per capita PPP US$ | Development index value | HDI |
Country | ||||
Iceland | 81.5 | 36510 | 0.968 | 0.941 |
Norway | 79.8 | 41420 | 0.968 | 0.913 |
Australia | 80.9 | 31794 | 0.962 | 0.931 |
Canada | 80.3 | 33375 | 0.961 | 0.921 |
Ireland | 78.4 | 38505 | 0.959 | 0.890 |
Sri Lanka | 71.6 | 4595 | 0.743 | 0.776 |
Source-by author abstract from www.hdistats.undp.org | ||||
Economic Patterns of the World Newly industrialized countries Other emerging markets Other developing economies Source-www.emergingmarket.com |
World Countries income -2007 (Groupings based on World Bank assessment of per-capita gross income) Source- http://www.en.wikipedia.org High income Upper-middle income Lower-middle income Low income Country |
[1] Central Bank Report, 2008
[2] www.world bank.org/depweb
[3] ‘Development’, (2009), Encyclopedia Britannica, Ultimate Reference Suite, Chicago
[4] www.wikipedia.org
[5] World Bank’s main criterion for classifying economies is gross national income (GNI) per capita. Income group: Economies are divided according to 2007 GNI per capita, calculated using the World Bank Atlas method. The groups are: low income, $935 or less; lower middle income, $936 - $3,705; upper middle income, $3,706 - $11,455; and high income, $11,456 or more. (www.web.worldbank.org)
[6] One such criterion is income per capita and countries with high gross domestic product (GDP) per capita being described as developed countries. Another economic criteria is industrialization
[7] A developing country is a country that has low standards of democratic governments, industrialization, social programs, and human rights guarantees
[8] http://www.en.wikipedia.org.emergine market
[9] This agenda good for their country and may be bad or worse to the others
[10] They help and make war out side of the regime
[11] If we go to Hambanto proposed harbor area, we can see many ships passing our country just like at night in Galle- Colombo main road.
[12] In addition to that they try to use it in Geopolitically.
[13] Now scientists found a place near Trincomali, as the best place to produce wave (current) power.
[14] Central Bank of Sri Lanka,2008
[15] Inter-dependence is good but not for all.
