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Foreign Debt, Trade Openness, Labor Force And Economic Growth: Evidence From Sri Lanka, Ramesh Chandra Paudel, Nelson Perera
Foreign Debt, Trade Openness, Labor Force And Economic Growth: Evidence From Sri Lanka, Ramesh Chandra Paudel, Nelson Perera
Sydney Business School - Papers
This study examines the role of foreign debt, trade openness and labor force in the economic growth of Sri Lanka, by employing the Johansen maximum likelihood approach of cointegration. It analyzes the data for the period, 1950-2006. The study finds that there is a cointegration relationship between economic growth and foreign debt, trade openness and labor force. Further the results suggest that in the long run, labor force, trade openness and foreign debt have a positive impact on economic growth of Sri Lanka.
Financial Development And Economic Growth In Sri Lanka, Nelson Perera, Ramesh Chandra Paudel
Financial Development And Economic Growth In Sri Lanka, Nelson Perera, Ramesh Chandra Paudel
Sydney Business School - Papers
This study investigates the causal relationship between financial development and economic growth in Sri Lanka over the period 1955 to 2005. After considering the time series characteristics of six measures of financial development, Johansen cointegration and the appropriate Error Correction Model are used to investigate the causal relationship between financial development and economic growth. The findings suggest that broad money causes economic growth with two-way causality. The major finding of this study does not strongly support the view that financial development boosts economic growth.