Browsing by Author "Wijesuriya, P"

Now showing 1 - 4 of 4

Open Access
Five decades of globalisation and growth: a cross-country causal analysis of low-income economies
(Elsevier Ltd, 2026-01-19) Rathnayake, D; Sandanayaka, I; Wijesuriya, P; Athalage, D; Jayathilaka, R
Comprehending the dynamic between globalisation and economic growth in low-income nations is vital to understanding how they navigate growth trajectories whilst addressing global concerns. This study examined the nexus between globalisation and its financial, social, and political facets in relation to growth in fourteen lowincome nations. The analysis spanned over five decades and the Wavelet Coherence and Granger Causality methodologies. The findings revealed a bidirectional causal relationship between globalisation and growth in Rwanda, unidirectional causal flows in Burundi, Sierra Leone, Sudan, and Uganda. A bidirectional relationship between economic integration and growth was identified in Burkina Faso. Possible policy actions aligned with the United Nations Sustainable Development Goals have been developed, focusing on the country-specific dynamics of each nation. These policy recommendations comprise introducing incentives for foreign investments in Rwanda and liberalising trade in Burkina Faso to reinforce economic globalisation. The study also recommends the expansion of digital infrastructure and global educational avenues in Burundi and Uganda to strengthen social integration, and the reinforcement of governance mechanisms in Chad and Togo to encourage political integration. This study contributes to the globalisation-growth literature by offering time-sensitive insights into the growth trajectories of low-income economies.
Open Access
The interplay between globalisation and economic growth: a multi-regional analysis
(Springer Nature Link, 2025-06-10) Athalage, D; Wijesuriya, P; Sandanayaka, I; Rathnayake, D; Jayathilaka, R
Globalisation is recognised as a prospective dynamic that facilitates the performance and expansion of economies. This study analyses the causal progression between globalisation, its sub dimensions (economic, social and political) and economic growth spanning 97 countries and six regions (Africa, Asia, Europe, North America, Oceania, and South America) covering the period from 1971 to 2021. The Panel Granger causality test is employed as the statistical methodology to comprehend the nexus between globalisation and economic growth. The Granger results reveal bi-directional causal flows between economic growth and globalisation in Asia, North America, and Oceania, along with one-way causal flows in Africa, South America, and Europe. Bidirectional dynamics pertaining to economic globalisation were also revealed in Asia, Africa, Oceania, and Europe. This study recommends the enhancement of regional integration, addressing of structural changes, leveraging the use of technology, and the development of comprehensive globalisation strategies with respect to regions with the intention of reinforcing their globalisation-growth stance, while complementing the Sustainable Development Goals of the United Nations.
Open Access
The interplay between globalisation and economic growth: a multi‑regional analysis
(Springer Nature, 2025-06-10) Athalage, D; Wijesuriya, P; Sandanayaka, I; Rathnayake, D; Jayathilaka, R
Globalisation is recognised as a prospective dynamic that facilitates the performance and expansion of economies. This study analyses the causal progression between globalisation, its sub dimensions (economic, social and political) and economic growth spanning 97 countries and six regions (Africa, Asia, Europe, North America, Oceania, and South America) covering the period from 1971 to 2021. The Panel Granger causality test is employed as the statistical methodology to comprehend the nexus between globalisation and economic growth. The Granger results reveal bi-directional causal flows between economic growth and globalisation in Asia, North America, and Oceania, along with one-way causal flows in Africa, South America, and Europe. Bidirectional dynamics pertaining to economic globalisation were also revealed in Asia, Africa, Oceania, and Europe. This study recommends the enhancement of regional integration, addressing of structural changes, leveraging the use of technology, and the development of comprehensive globalisation strategies with respect to regions with the intention of reinforcing their globalisation-growth stance, while complementing the Sustainable Development Goals of the United Nations.
Open Access
Interweaving globalisation and growth: A causal exploration across income levels
(Elsevier, 2025-02-28) Sandanayaka, I; Rathnayake, D; Athalage, D; Wijesuriya, P; Jayathilaka, R
Economic growth is a crucial global macroeconomic goal and globalisation is widely regarded as a key driver of growth in today's interconnected world. However, previous studies have largely examined this relationship in a generalised manner, often without allocating equal focus to the multiple dimensions of globalisation. This study explores the causal relationship between economic growth and globalisation—encompassing its economic, social, and political dimensions—across 97 countries grouped by income level. The analysis spans 51 years (1971–2021) and employed the Panel Granger Causality Test. Unlike most existing studies, which primarily focus on global and country-level trends, the current findings disclose a bidirectional relationship between economic growth and globalisation in both high and low-income groups. The results also reveal a growth driven globalisation in the upper-middle-income group, and a globalisation-driven growth in the lower-middle income group. Accordingly, policy recommendations are formulated in alignment with the Sustainable Development Goals (SDGs) set by the United Nations and tailored to income specific contexts to assist stakeholders in drafting effective and personalised strategies. These include promoting sustainable production practices and technology transfers in low-income nations, enhancing policies to support international trade in the lower-middle-income group, investing in human capital development in upper-middle-income nations, and encouraging technological advancements in high-income nations. This study contributes to the empirical literature on the globalisation-growth nexus across income classifications, offering intricate and timely insights spanning a fifty-year timeframe.