News

The knowhow path to Sri Lankan development

September 5, 2018

Daily FT

When Adam Smith wrote ‘The Wealth of Nations’ in 1776, the richest country in the world was four times richer than the poorest one. Today, Singapore is over 110 times richer than Burundi. What could possibly explain such an extreme divergence of the wealth of nations? Economists have shown that these differences are too large to be explained by differences in the availability of land or capital – including human capital. So, they ascribe it to differences in the productivity with which land and capital are used, something that economists attribute to...

Read more about The knowhow path to Sri Lankan development

Prof. Ricardo Hausmann briefs BOI staff on economic development

May 24, 2018

Daily FT

Prof. Ricardo Hausmann, Director of the Center for International Development and Professor of the Practice of Economic Development at the John F Kennedy School of Government, Harvard University visited BOI and addressed staff of the Board. 

The Professor was accompanied by other staff members from Harvard University. Prof. Ricardo Hausmann was introduced to the staff by BOI Director General Duminda Ariyasinghe. The BOI Director General spoke about the introduction of new systems at the Board to facilitate foreign direct investments into the...

Read more about Prof. Ricardo Hausmann briefs BOI staff on economic development

Sri Lanka’s main problem, inability to move from apparel to advanced sectors: Hausmann

May 23, 2018

Lanka Business Online

Prof. Ricardo Hausmann briefs BOI Staff on Economic development; the way forward discussed

Prof. Ricardo Hausmann, Director of the Center for International Development and Professor of the Practice of Economic Development at the John F Kennedy School of Government, Harvard University visited BOI and addressed staff of the Board.

The Professor was accompanied by other staff members from Harvard University. Prof. Ricardo Hausmann was introduced to the staff by Mr. Duminda Ariyasinghe, Director General of BOI....

Read more about Sri Lanka’s main problem, inability to move from apparel to advanced sectors: Hausmann

EDB discusses national export strategy with top Harvard economist

May 23, 2018

Daily FT

Officials of the Sri Lanka Export Development Board (EDB) discussed the forthcoming National Export Strategy (NES) and other key initiatives of the agency with top Harvard economist Prof. Ricardo Hausmann last week (16 May). 

Hausmann is the founder director of Harvard University’s Center for International Development and the guru behind the ‘Product Space Map’ and ‘Atlas of Economic Complexity’ analytical tools, now used by countries around the world to assess their export competitiveness and develop strategies for diversification. 

...

Read more about EDB discusses national export strategy with top Harvard economist

Sri Lanka can create jobs, boost exports, by moving brains

May 22, 2018

Mirror Business

Many advanced nations from Singapore to the US have open policies that allow people to migrate easily, bringing knowledge and skills to transform economies and create new jobs, a top Harvard economist said.

Allowing brains to move brings skills in faster and tends to have a multiplier effect in jobs and economic activity, Ricardo Hausmann, from the University of Harvard, told a seminar organised by Colombo-based Advocata Institute and Echelon Magazine.

In the US, every foreign-born science, technology, engineering and mathematics (STEM)...

Read more about Sri Lanka can create jobs, boost exports, by moving brains

Liberalising migrant labour policies key to propel growth

May 20, 2018

Sunday Observer

Sri Lanka has the potential to accelerate its economic growth by creating access to know-how through liberalised immigration policies, opines a renowned expert on development economics.

Addressing a recent lecture on the topic of ‘Accessing know-how for development’, Director of Centre for International Development (CID) at Harvard University, Prof. Ricardo Hausmann says the low addition of new products to the island’s export basket in the last two decades was primarily due to the barriers in immigration laws and coupled by the low rate of...

Read more about Liberalising migrant labour policies key to propel growth

Lanka’s immigration laws need reform

May 18, 2018

Daily News

These sentiments were expressed by Prof. Ricardo Hausmann, Director of Harvard’s Center for International Development and Professor of the Practice of Economic Development at the Kennedy School of Government at the second edition of Future of Business - Innovation in Action’, conference held at the Galle Face Hotel Colombo, yesterday.

“Sri Lanka has restricted its ability to attract talent outside owing to multiple reasons when compared to other dynamic economies like India, Vietnam and Singapore.”

Prof. Ricardo suggested that Sri...

Read more about Lanka’s immigration laws need reform

Immigration key catalyst for development

May 17, 2018

Daily FT

Reforming immigration law to allow free movement of people through progressive laws could tackle Sri Lanka’s chronic economic challenges of narrow exports, low Foreign Direct Investment (FDI) and limited innovation, a top expert said yesterday, outlining many examples of countries that have experienced growth spurts by opening up their labour markets.  

Prof. Ricardo Hausmann is Director of Harvard’s Center for International Development and Professor of the Practice of Economic Development at the Kennedy School of Government. Delivering a...

Read more about Immigration key catalyst for development

Getting know-how for Sri Lanka's export diversification

May 14, 2018

ECONOMYNEXT

Ricardo Hausmann, a professors at University of Harvard will speak on gaining know-how to diversify Sri Lanka's export base at an event organized by Advocata Institute, a free market think tank based in Colombo.

Economies grow by adding new products and services to their production portfolio , and not by producing more of the same kinds of products.

"The key to such diversification is access to know-how, but know-how often has to come from abroad," ...

Read more about Getting know-how for Sri Lanka's export diversification