Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    12,000+ curated items from top Think Tanks.
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    Growth Empirics: Structural Transformation and Sectoral Interdependencies of Sri Lanka

    Jayasooriya, S. P. | April 2017
    Abstract
    Even though the impacts of the globalization on economic growth and structural changes are inevitable, many developing countries are slowly transformed in the process. This paper examines the impact of structural transformation of Sri Lanka’s economy on sectoral interdependencies to provide evidence for policy making. It advocates policies, investigating the relationship among agricultural, industrial, and service-related gross domestic products (GDPs) under (i) an open economic policy setting, (ii) different government policy regimes, and (iii) major policy eras from 1950 to 2015. The analysis uses secondary data from the Central Bank of Sri Lanka and the Institute of Policy Studies publications. A time-series econometric method, vector autoregression, was used including causality analysis, and Gregory-Hansen cointegration, for estimating a long-run relationship in sectoral growth. The empirical investigations revealed an existence of unidirectional causality toward agricultural to industrial GDP, and bidirectional causality between agricultural and service GDPs in terms of Sri Lanka’s economy. The effect of Gregory-Hansen co-integration affirmed a long-run nexus in agricultural growth positively with industrial and service growth. Apart from that, the evidence of structural change through open economic policies depicted a significant impact between pre-open economic and post-open economic policies for a drastic economic growth even under structural break. Although none of the policy regimes have prejudiced economic growth, reforms can be initiated to ascertain the revival of economic growth, and promoting service sector-related economic systems are desirable with reforming policies.
    Citation
    Jayasooriya, S. P.. 2017. Growth Empirics: Structural Transformation and Sectoral Interdependencies of Sri Lanka. © Asian Development Bank Institute. http://hdl.handle.net/11540/7288.
    Keywords
    Development strategy
    Development models
    Economic development
    New technology
    Rural planning
    Aid coordination
    Industrial projects
    Infrastructure projects
    Natural resources policy
    Educational development
    Absorptive capacity
    Development Planning
    Development Research
    Technology Development
    Aid And Development
    Asian Development Bank
    Comprehensive Development Framework
    Development Cooperation
    Development Management
    Development Planning
    Development Strategies
    Rural planning
    Regional development bank
    Project finance
    Strategic planning
    Infrastructure projects
    Government programs
    Public finance
    Public enterprises
    Development
    Economics
    Development In East Asia
    Development Planning
    Development Research
    Technology Development
    Aid And Development
    Asian Development Bank
    Comprehensive Development Framework
    Development Cooperation
    Development Management
    Development Planning
    Development Strategies
    Development strategy
    Development models
    Economic development
    New technology
    Rural planning
    Aid coordination
    Industrial projects
    Infrastructure projects
    Natural resources policy
    Educational development
    Absorptive capacity
    Economic development projects
    Economic forecasting
    Economic development projects
    Municipal government
    Technology transfer
    Exchanges of patents and technical information
    Technical education
    Technology
    Communication in rural development
    Communication in community development
    Economic development projects
    Development banks
    Economic forecasting
    Environmental auditing
    Cumulative effects assessment
    Human rights and globalization
    Transfer Technocracy
    Absorptive capacity
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/7288
    Metadata
    Show full item record
    Thumbnail
    adbi-wp728.pdf (616.8Kb)
    Author
    Jayasooriya, S. P.
    Theme
    Development
    Economics
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise