Research Papers - Dept of Business
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Publication Open Access Dynamic linkages between chicken meat production, consumption, income and trade: Evidence from Wavelet coherence and Granger causality in Asia(Elsevier Inc., 2026) Silva, Y; Susan, H; Perera, N; Mendis, K; Jayathilaka, R; Dabare, UThe poultry industry has become one of the fastest-growing agricultural sectors in Asia, driven by rising incomes, and shifting food preferences. Therefore, this study aims to examine the relationship between chicken meat production and key determinants, including chicken meat consumption, gross domestic product, and trade openness, over 30 years (1993-2022) across 28 Asian countries. This study's foundation was based on the theories of consumer demand and international trade. Wavelet coherence and Granger causality analysis were utilised to identify the direction of causality of the variables. The Wavelet results reveal that chicken consumption and GDP become most significant with the production in the Asian continent, while Granger results reveal that most Asian countries showed unidirectional causal flows from trade openness to chicken meat production and from chicken meat production to gross domestic product and consumption. Furthermore, this study provides novel insights that inform policy considerations for policymakers, international and domestic organisations, and governments, aligning with the Sustainable Development Goals established by the United Nations.Publication Unknown Global economic uncertainty shocks and macroeconomic dynamics before and after COVID-19: Evidence from Africa and the Americas(Elsevier Inc., 2026-04-03) Madurawala, R; Navamohan, P; Gamage, D; Hansika, S; Jayathilaka, RGlobal economic uncertainty has become a central driver of macroeconomic instability, particularly during large-scale crises like the COVID-19 pandemic. This study examines how global uncertainty shocks affect key macroeconomic variables, particularly suicide rates, economic growth, unemployment, and trade openness across 62 countries in Africa, South America, and North America over the period of 2004–2023 as the countries in these regions exhibit the highest uncertainty post-pandemic. Utilising the COVID-19 pandemic as a natural experiment, the analysis distinguishes between pre- and post-pandemic uncertainty-socioeconomic dynamics to assess the bidirectional and cointegrating relationships across regions. The study employs Multiple Linear Regression to capture short-term macroeconomic responses and panel and country-level cointegration techniques to identify long-run relationships between economic uncertainty and macroeconomic variables. Global uncertainty is proxied using the World Uncertainty Index, which captures broad policy, geopolitical, and crisis-related uncertainty affecting expectations and real economic activity. Unlike, existing studies which reveal insights in a particular region or country, the current findings uncover bi-directional relationships in 21 countries post-pandemic, with notable relationships in Algeria, Botswana, Gabon, Guinea, Madagascar, Republic of Congo, Dominican Republic, Mexico, Bolivia, Paraguay. Moreover, long-run cointegration between uncertainty and macroeconomic indicators strengthens in the post-COVID-19 period, particularly in countries of Africa and North America. By analysing countries in the highest uncertainty regions the study contributes to the international macroeconomics literature by providing new evidence on how global uncertainty shocks reshape macroeconomic dynamics across regions with heterogeneous economic structures, offering important implications for macroeconomic stabilisation in an increasingly uncertain global landscape.Publication Open Access Economic and environmental factors influencing beef production in high-income countries: Panel evidence(Elsevier B.V., 2026-05-06) Susan, H; Mendis, K; Perera, N; Silva, Y; Jayathilaka, RAs the global population grows, dietary patterns are shifting towards protein-rich foods, with beef production playing a critical role in balancing food security, economic growth, and environmental sustainability. Among income groups, high-income countries exhibit relatively stable, yet elevated levels of beef production compared to others, warranting focused investigation. This study evaluates the causal effects of beef consumption, greenhouse gas emissions, gross domestic product, and trade openness on beef production across 42 high-income countries from 1993 to 2022. A panel regression model with country-specific fixed effects is employed to control for unobserved heterogeneity, as supported by panel specification tests. Additionally, a simple moving average method is used to forecast short-term trends in beef production for 2023–2026. The findings reveal that there is no significant evidence to claim that there is an effect of beef consumption and gross domestic product on beef production. In contrast, trade openness negatively influences production, while greenhouse gas emissions exhibit a positive effect. Forecast results indicate increasing beef production in countries such as Uruguay, New Zealand, Ireland, Australia, Canada, and the United States. The study offers policy-relevant insights for governments and international organisations in aligning livestock production strategies with Sustainable Development Goals.Publication Embargo Economic and Environmental Drivers of Carbon Emissions in Asia: Granger Causality Insights From Foreign Investment, Inflation, and Ecological Footprint(John Wiley and Sons Ltd, 2026) Nizar, S; Natkunarasa, A; Divyanjali, H; Jayathilaka, RRising carbon emissions cause critical challenges to sustainable development, particularly in Asia which accounts for a substan-tial share of global emissions. The study investigates the short-run causal relationships between foreign direct investment, infla-tion, ecological footprint, and carbon emissions across 27 Asian countries (final analytical sample) over the period 2000–2023.Utilizing country-specific VAR-based Granger causality analysis, the study captures heterogeneous sustainability economic in-teractions without imposing uniform panel assumptions. The results reveal diverse unidirectional and bidirectional causalitypatterns, highlighting how macroeconomic pressures and environmental constraints jointly shape emission outcomes. Thesefindings underscore the importance of sustainable investment, energy price management, and institutional capacity in sup-porting sustainable communities and enhancing knowledge-driven sustainability transitions. From a managerial and policyperspective, the results provide actionable insights aligning with investment decisions, macroeconomic management, and envi-ronmental governance with the sustainable development goals, particularly SDG 13 (climate action), while recognizing country-specific development pathways.Publication Embargo Socio-economic and health drivers of suicide: A global analysis across income groups(Routledge, 2026-03-27) Kankanam Pathiranage, H.S; Kothalawala, C; Jayathilaka, RSuicide is a critical global public health challenge, with its socio-economic and health determinants varying significantly across contexts. This study provides the first comprehensive analysis of income-group-specific drivers of suicide, leveraging data from 129 countries over two decades. Using panel regression models to capture cross-country variations and temporal trends, the study identifies mental health disorders as the most significant global contributor, while unemployment universally elevates suicide risk. Alcohol consumption exhibits income-specific patterns, with wine increasing suicide rates in high-income nations and spirits in upper-middle-income settings. In low-income countries, HIV/AIDS prevalence significantly heightens vulnerability. These findings underscore the urgent need for targeted interventions, including expanding access to mental health care as part of universal health coverage, strengthening economic safety nets to mitigate the psychological impacts of unemployment, and implementing tailored alcohol regulation policies. By addressing these global and income-group-specific vulnerabilities, this study offers actionable insights to guide transformative policies and accelerate progress toward achieving the Sustainable Development Goals (SDGs).Publication Embargo From Tourism Growth to Sustainable Development: A Causality Analysis of Tourism, Exchange Rates, and Economic Growth in Asia(John Wiley and Sons Ltd, 2026-02-04) Wickramaarachchi, C; Jayathilaka, RTourism is widely recognised as a catalyst for sustainable development, particularly in regions where it supports employment, foreign exchange earnings and local entrepreneurship. However, the extent to which tourism contributes to sustainable development depends on macroeconomic stability and policy environments that enable long-term investment rather than short-term revenue maximisation. This study examines the causal relationships between tourism receipts, per capita GDP (PGDP), and exchange rates across 46 Asian countries from 2000 to 2020, while controlling for trade openness to account for broader external sector exposure. Employing a panel data framework that accounts for cross-sectional dependence, heterogeneity, and mixed integration properties, the analysis combines second-generation unit root and cointegration tests with country-specific Granger causality techniques. The findings reveal substantial heterogeneity in causal dynamics across countries. In some economies, tourism-led growth emerges, where expanding tourism receipts stimulate economic growth. In others, economy-driven tourism dominates, indicating that rising income levels facilitate tourism development through improved infrastructure and destination competitiveness. Exchange rate stability plays an important conditioning role, shaping the extent to which tourism revenues translate into sustained development gains. Countries characterised by stable exchange rate environments are better positioned to channel tourism income toward long-term, sustainability-oriented investments. The study offers actionable policy insights by demonstrating that macroeconomic stability is a prerequisite for sustainable tourism development. Strengthening exchange rate governance, promoting eco-friendly tourism investment, and enhancing regional cooperation can support a transition from growth-oriented tourism strategies toward sustainable development pathways.Publication Embargo Unveiling the Current Extent of the Gig Economy Engagement in Developing Asian Countries(University of Nigeria Department of Mass Communication, 2025-05-21) Dilmith, C; Jayathilaka, R; Jayalal, S; Devhara, T; Rathnayake, N; Jayasuriya, NBackground: The gig economy, driven by technological advancements, has shifted the labour market from traditional jobs to mainstream freelance and contract work via online platforms. Statistical evidence highlights the importance of examining gig economy engagement in developing Asian countries, which are key contributors to global platforms. Objective: This study sought to systematically analyse the rise of gig economy engagement in developing Asian countries and its implications for the future of work while providing insights for platform users. Methodology: This study was conducted in accordance with the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, drawing on past research and numerous reliable resources from 1999 to 2024. Results: Findings reveal a growing research focus on the gig economy, particularly since 2016, with a significant increase in publications from 2019 to 2024. This highlights gaps in understanding gig workers' well-being, including stress, quality of life, and gender-specific barriers. Conclusion: Scholars must pay adequate attention to the expanding contributions of the gig economy, considering its potential to reshape workforce dynamics and drive economic innovation. Unique contribution: This study presents a graphical representation that illustrates the evolution of existing scholarly contributions, highlighting key gaps that require further exploration, and emphasises the vital importance of investigating this area. Key Recommendation: Policymakers need to focus on adopting a fair work framework while addressing the underexplored areas of gig workers' experiences and challenges to foster equitable and sustainable growth of the gig economy in developing Asian countries. © 2025, University of Nigeria Department of Mass Communication.Publication Open Access Influence of Socio-economic and Demographics factors on Households’ Savings in Sri Lanka(University of Sri Jayawardenapura, 2022-04-23) Jayathilaka, R; Palihawadana, T; Amalka, I; Jayasinghe, S; Jayarathne, PThe purpose of this paper is to examine the factors influencing saving behavior among households in a developing country. Sri Lanka being a developing country, has recorded a relatively lower households’ saving rate when compared with its peer regional counterparts. The study approximates the socio-economic and demographic factors towards the level of saving of households in Sri Lanka using a quantile regression approach based on the Household Income and Expenditure Survey, conducted by the Department of Census and Statistics of Sri Lanka. Results were obtained by using the stepwise quantile regression technique. The findings of this study conclude that when Sri Lankan households have a higher per-capita income, they tend to have a higher saving level. Moreover, age and marital status have a significant impact on the level of saving in Sri Lankan households. Additionally, poverty and employment status have a significant impact to the level of saving on Sri Lankan households. This research paper bridges empirical gaps in this area of study. Furthermore, this study has been conducted encompassing the entire country rather than limiting it to a district or segment, hence, is comprehensive. As per the generated results gender, income and education levels have shown a significant positive impact towards the level of saving, whilst marital status and poverty have shown a significant negative impact towards the level of saving. It is considered that when the demographic and socio-economic factors are affecting favorably, the level of saving tends to increase and vice versa. Accordingly, findings of the study can provide insights to policymakers to devise policies and incentives to encourage savings behaviour and level of savings among households in Sri Lanka. This is beneficial as coping strategies specially during crises, where dependency of households on government assisted welfare schemes is likely to be less.