Research Papers - Dept of Information of Management
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Publication Embargo Globalisation and CO 2 Emissions: Evidence From theWorld’s Largest Emitters(John Wiley and Sons Ltd, 2026-07-01) Ansar, A; Illiyas, O; Hussain, M; Hansani, C; Jayathilaka, R; Chandrasiri, RThe study examines the predictive relationship between political, economic, and social dimensions of globalisation and CO2 emissions across the world's largest emitting countries using a country-level VAR Granger causality framework. Political globalisation Granger-causes emissions in Australia and Japan, whereas emissions exhibit predictive precedence towards political globalisation in the United States. Economic globalisation demonstrates predictive bidirectional causal evidence with emissions in India and Malaysia, while social globalisation exhibits a predictive relationship with emissions in Canada, Japan, and Mexico. The findings highlight substantial heterogeneity in the predictive relationships between dimensions of globalisation and CO2 emissions across countries, reflecting differences in governance structures, industrial composition, and energy dependency patterns. Unlike panel-average estimation approaches, the country-level framework allows the identification of heterogeneous country-specific temporal dynamics across the major emitters. Nevertheless, the findings should be interpreted as a predictive relationship rather than definitive structural causation and may remain sensitive to omitted variables and long-run equilibrium dynamics which are not captured within the short-term VAR framework. The study contributes to additional country-specific evidence relevant to climate governance and sustainability-orientated policy discussions among major emitting economies.Publication Open Access Foreign direct investment and foreign reserves linkage: a global study based on wavelet coherence and granger causality(Springer Nature, 2025-04-02) Jayathilaka, R; Vidyapathirana, G; Fernando, C; Sandaruwan, C; Lakshani, SIn the contemporary global economy, foreign direct investment (FDI) and foreign reserves (FR) play a crucial role in economic stability, particularly amid geopolitical and financial uncertainties. This study examines the relationship between FR and FDI over a 23-year period (2002–2022), utilising panel data from 110 countries. By employing Wavelet Coherence analysis, the findings indicate that FR significantly influences FDI inflows across most regions, except in Europe, where the relationship is more complex. Additionally, the Granger causality test confirms a predominantly unidirectional linkage from FDI to FR in most countries, particularly in North America, Asia, and Oceania. These findings suggest that policies fostering economic stability, such as flexible tax regimes and strong governance, are essential for enhancing FDI attractiveness, particularly in regions where the FR-FDI relationship remains weak.