Conclusions and Policy Implications
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The objective of this study was to explain the pattern of growth of Sri Lanka’s manufactured exports, and to analyse their limited industrial upgrading and diversification since economic liberalization in 1977. In the process it was hoped to identify the conditions that would lead to a more dynamic evolution of comparative advantage of the manufacturing sector. Following an examination of the major theories of comparative advantage, their predictions and some of their limitations, the analysis applied the technological capabilities approach in developing countries to explain Sri Lanka’s manufactured export performance at the national and firm-levels.
KeywordsComparative Advantage Trade Liberalization Technological Capability Export Performance Foreign Ownership
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