| The liberalization of the Sri Lankan economy in 1977 and the privatization of state enterprises in the ensuing years, created a need for competition policy and rules-based regulatory systems to address distributional concerns. However, the integration of these newer external regulatory processes into the policy framework was slow due to an ongoing civil war, pressures to finance the burgeoning fiscal deficit and the related move to opt for rapid privatization. In addition, the policy and governance milieu, institutional structures, and legal framework within which these reforms were finally formulated and implemented did not allow for an effective competition and regulatory regime. This paper describes and analyzes the policy, institutional and legal... |
