SLIIT Business School Scopus2

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Author: search.filters.author.Rathnayake, DSubject: search.filters.subject.Economic growth

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    PublicationOpen 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.
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    PublicationOpen Access
    Globalisation and growth nexus: Evidence from Africa through Granger Causality and Wavelet Coherence
    (Elsevier, 2025-06-08) Wijesuriya, P.; Athalage, D; Rathnayake, D; Sandanayaka, I; Jayathilaka, R
    This study analyses the causal relationship between economic growth with globalisation and its economic, social and political facets in 33 African nations, for 51 years from 1971 to 2021. On an empirical perspective, the Granger Causality Test is utilised in the cross-country analysis, with the Wavelet Coherence methodology being conducted to comprehend the growth-globalisation nexus for the African region. Conceptually, the study is based on the Endogenous Growth and Dependency theories in identifying how globalisation drives growth in Africa. Unidirectional causal flows between globalisation and growth have been revealed for Benin, Burundi, Cameroon, Côte d’Ivoire, Kenya, Mauritania, Seychelles, Sierra Leone, and Uganda. Bidirectional causal flows between globalisation and growth have been revealed for Eswatini, Egypt and Rwanda. The study also suggests the strengthening of economic, social and political integrations, leveraging natural resources for sustainable growth, and cultivating resilience against external shocks while extending targeted support for low-performing nations in the region as strategies to improve the globalisation-growth nexus in the region. The study contributes to the existing literature by providing a holistic assessment of the growth-globalisation dynamics in Africa and its regional nations, extending over five decades, and using a dual-method approach.
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    PublicationOpen 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.