AN EMPIRICAL STUDY OF THE RELATIONSHIPS BETWEEN CO2 EMISSIONS, TRADE OPENNESS AND ECONOMIC GROWTH IN SOUTH ASIAN COUNTRIES

The economic conditions and policies change over time and the changes may have different impact to their economies. In the era of globalization, demand for energy is increasing rapidly and all countries depend highly on energy. It has become one of the main problems in the world. Thus, there is requirement to identifying the impact of this dependency of energy on an economy. Impact of energy consumption is derived from environmental Kuznets curve (EKC). Based on such background, the objective of this paper is to shed light on and examine the existence of the EKC in selected SAARC countries from 1960-2016.This study performed multiple OLS regression analysis for the cubic and squared specifications to investigate the relationships between environmental degradation, economic growth, capital stock and trade liberalization.Depending on the inherited features of each country, the estimated EKC show different temporal patterns. Nepal shows an N-shaped curve while all other countries have an opposite to the N-shaped curve. Similar differences are also observed in the relationship between CO2 emissions and trade openness. In the case of Sri Lanka, Nepal and Pakistan, they reveal a U-shaped curve, while Indian and Bangladesh show an inverted U-shaped curve. At the early stage of development there is insignificant influence on CO2 emissions from economic growth because of low industrialization in these countries. In the case of trade openness in Pakistan, Nepal and Sri Lanka, the coefficients of OPEN show negative relationship with CO2. As stated by Grossman and Krueger, (1995); Halicioglu, (2009), there is a production of pollution intensive goods as they tend to have dirty industries with heavy share of pollutants.A suitable environmental policy to reduce total CO2 emissions without damaging economic growth is important for these countries since all these countries still belong to the developing nations. To improve energy efficiency, policy makers can formulate strategies to avoid unnecessary use of energy. On the other hand, using less energy intensive technologies, minimizing the loss of power during distribution and transmission processes, and employing different tariff mechanisms to control energy use are some important policies that are possible to increase energy efficiency for these counties.Keywords: CO2, Environmental Kuznets curve (EKC); Economic growth; Trade openness; Capital stock; SAARC countries

FACTORS CONTRIBUTING TO STUDENTS’ ACADEMIC PERFORMANCE: A CASE OF UNIVERSITY OF SRI JAYEWARDENEPURA, SRI LANKA

This study examined the factors affecting academic performance based on a study conducted at the Faculty of Management Studies and Commerce, University of Sri Jayewardenepura. The sample consisted of 200 undergraduate students selected from the 2500 students of the faculty. The 200 respondents were selected using random sampling method from 3rd year and 4th year students of the faculty. The data were collected throughstructured questionnaires. As the main technique of data analysis a multiple regression model has been employed to quantify the impact of different factors affecting the academic performance of students measured by their Grade Point Average of semester examinations. The findings of the study showed that mothers’ education levels made a significant contribution to the students’ academic performance. However, English knowledge of thestudents becomes the second important factor which influences students’ academic performance. Students with higher levels of attendance for lectures have positive effect towards their academic performance. Further, higher socio-economic status exhibits a positive significant impact on students’ performance. Further, the study employed an independent sample T-test and correlation analysis to identify differences among various group of students and the relationship between dependent and independentvariables. Fourteen hypotheses were tested by employing an independent sample T- test in the study to explore whether the mean values of GPA among different student groups were equal or not. The null hypothesis is that the mean value of GPA of the two groups is equal. Nine null hypotheses were rejected at 1% level of significance. Keywords: Academic Performance, Undergraduate Students, Knowledge of English, Socio-economic Status, Parents’ Education Leve

CAUSALITY TESTING AND WAGNER’S LAW: THE CASE OF SRI LANKA

This paper presents an empirical investigation into the validity of Wagner‟s Law for Sri Lanka over the period 1959-2010. The research methodology employed includes testing for unit root, with the Augmented Dickey-Fuller (ADF) test, the use of a Vector Autoregression (VAR) model for the implementation of the Granger causality test, and cointegration tests according to Johansen-Juselious. The cointegration tests indicate that there is a long run relationship between public expenditure (TE) and Gross Domestic Product (GDP), and the ratio of total government (public) expenditure to gross domestic product (TE/GDP) and GDP (First and Six version of Wagner‟s Law). Both eigenvalue and trace tests indicate that there is one cointegrating vector. Although the results reported herein do not reveal uniformity among the six versions of Wagner‟s Law, the results show an apparent prevalence of the direction of causality from growth of GDP to public expenditure. For the first three versions of Wagner‟s Law and the fifth version appear that Granger- causality runs one-way from GDP to TE, GDP to Total Consumption Expenditure (TCE), per capita gross domestic product (GDP/POP) to TE, and (GDP/POP) to per capita government expenditure (TE/POP), respectively. According to empirical findings of this study, it is possible to say that the growth of public expenditure in Sri Lanka is depended on and determined by economic growth as Wagner‟s Law

Customer Satisfaction and Revisit Intention towards Fast Food Restaurants in Sri Lanka

This study aimed at examining factors that effect of food taste, food quality, service quality, perceived price, responsiveness, restaurant environment on customer satisfaction and revisit intention. Data were collected through a structured questionnaire survey of fast food restaurant customers in a selected metropolitan area from Colombo district and students from University of Sri Jayewardenepura. The data were analyzed using SPSS 21.0 and R Studio 3.5.1 software. The study has found that food quality and perceived price are the important antecedents of restaurant customer satisfaction. Further, the results clearly showed a significant role of customer satisfaction on revisit intention and crucial impact of perceived price on customer satisfaction. In addition, revisit intention towards the fast food restaurant is directly influenced by food tastes. This study collected data from two selected groups; students from University of Sri Jayewardenepura and one metropolitan area, and data has analyzed further based on demographic characteristics further to confirm the results.  Therefore, this study provides valuable insight to restaurant managers on attracting, retaining and satisfying their customers

Undergraduate Student’s Perspectives on E-learning during COVID-19 Outbreak in Sri Lankan Universities

As education moves e-learning all over the world due to COIVD-19 pandemic, students spend more time on e-learning than ever before. This is also equally applied to the Sri Lankan education system. Thus this study examines the undergraduate students’ perspectives on e-learning during the COVID-19 outbreak in universities in Sri Lanka. Primary data was obtained from undergraduate students in Sri Lankan university using a structured questionnaire via Google form. The perspectives on e-learning education during the COVID-19 pandemic was investigated using descriptive statistics and frequency analysis. The majority of the undergraduate students felt that the e-learning version of education saved travel time and cost of accommodation. Furthermore, the study revealed that the majority of students were happy with the e-learning form of education during the pandemic since it allowed them to finish their degrees faster and access the labor market without a delay. The biggest challenges with e-learning, according to the student responses, were internet access, device availability, visionary issues, technical issues, and stress. As a result of this COVID -19 pandemic, if higher education officials in Sri Lankan universities want to keep e-learning education on going, they must focus on offering cost-effective, high-speed data connections while minimizing technological hurdles. At the same time, it is important to update and revise the curriculum content according to this new mode of education since this is a completely new situation for all. There is relatively little research on students’ perspectives on e-learning education during the COVID-19 pandemic in the Sri Lankan context and it will provide some important highlights to the researchers, parent and academics as well

Factors Influencing Online Education during COVID-19 Pandemic: Sri Lankan Students’ Perspective

This study examines the factors influencing online education for selected Sri Lankan universities during the COVID-19 pandemic. It also analyses the moderate effect of gender and type of the university on online education. Primary data were collected using a questionnaire via google form from Management students in Sri Lankan selected universities. Data analysis was done through structural equations using analysis of moment structures (AMOS) version 22.0. Attitude, internet and related facilities, curriculum, and self-motivation were found to have a significant positive impact on online education, while workload & time have no significant effect on online education. Among four factors, the strongest influence was derived from self-motivation followed by the curriculum. We have not found significant differences among male and female students’ views on online education, while the impact from the type of university is different among the two categories. This study effectively guides policy makers and university administrators across the educational institutes to decide on continuing online education. It reveals some insights to the teachers, students, and parents to understand the significance of the modern online learning environment and its positive impact on the new learning mode. There is no study related to the factors associated with the impact of online education during the Covid-19 pandemic in the Sri Lankan context

WHY DOES TRANSMISSION LICENSEE SHOULD HAVE BULK SUPPLY TRANSACTION ACCOUNT IN VERTICALLY INTEGRATED UTILITY IN MONOPOLISTIC ELECTRICITY MARKET OF SRI LANKA

Sri Lanka has monopolistic electricity market dominated by Ceylon Electricity Board (CEB) in all three aspects of electricity i.e. Generation, transmission and distribution. The Public Utilities Commission of Sri Lanka (PUCSL) is the regulatory authority for the electricity sector. PUCSL has informed CEB for establishment of an effective and transparent mechanism to carry out Bulk Supply Transaction Account (BSTA) for implementation of a transparent Tariff Regime. However still CEB has not agreed to establish the BSTA. Since this is an issue where both parties are arguing advantages and disadvantages it was studied qualitatively to figure out the reasons and solution. Hence the objective of the study is to reason out the importance of BSTA and to identify the obstacles of establishing BSTA. We interviewed Director General PUCSL, Transmission Licensee and Distribution licensees of CEB, Lanka electricity Company officials, Donor Agencies and independent experts. It was revealed that the reasons highlighted by the advantages of having BSTA are improvement of efficiency, monitoring by the management on functions and sound financial situation of utility and the counter arguments made by Senior officials of CEB are at present CEB has separate accounting system for transactions, threat of unbundling, no legal provision to do it. However, under the existing legal framework there is no requirement to establish separate physical bank accounts for each licensee of CEB, considering the reasons explained by both parties it can be concluded that implementation of BSTA is important to improve the effective and transparent financial system in the CEB. But it is necessary to have clear legal provisions. However, BSTA is an integral part of tariff methodology. Hence it is necessary to have good tariff methodology for the sector to ensure the financial viability of the utilities

Indirect Regulatory Capture, Regulator and the Utility in Electricity Sector

This paper discussed the two cases of the regulatory decisions of the electricity sector regulator of Sri Lanka on renewable energy tariff calculation and approval of long term generation Expansion plan. The objectives of the analysis of the case studies are to examine how does utility can react on the regulatory decisions in the monopolistic market and whether it leads to a situation of Indirect Regulatory Capture. The regulatory process is examined from the perspective of various interest groups over the time, using Public Interest theory and Interest Group theory. The two cases are shown to have been strongly influenced by the interests of the different stakeholders of the electricity sector themselves, indicating a degree of 'regulatory capture'. The relationship of the utility and the regulator has been increasingly challenged by external pressures, interests of the stakeholders, and by, the level of resistance of the monopolistic utility. The paper concludes that in the monopolistic electricity market regulators decision can be reversed if the Utility is strong enough to resist the regulators decision if not favorable for the public or the utilities’ interest

Indirect Regulatory Capture, Regulator and the Utility in Electricity Sector

This paper discussed the two cases of the regulatory decisions of the electricity sector regulator of Sri Lanka on renewable energy tariff calculation and approval of long term generation Expansion plan. The objectives of the analysis of the case studies are to examine how does utility can react on the regulatory decisions in the monopolistic market and whether it leads to a situation of Indirect Regulatory Capture. The regulatory process is examined from the perspective of various interest groups over the time, using Public Interest theory and Interest Group theory. The two cases are shown to have been strongly influenced by the interests of the different stakeholders of the electricity sector themselves, indicating a degree of 'regulatory capture'. The relationship of the utility and the regulator has been increasingly challenged by external pressures, interests of the stakeholders, and by, the level of resistance of the monopolistic utility. The paper concludes that in the monopolistic electricity market regulators decision can be reversed if the Utility is strong enough to resist the regulators decision if not favorable for the public or the utilities’ interest

CAUSALITY TESTING AND WAGNER’S LAW: THE CASE OF SRI LANKA

This paper presents an empirical investigation into the validity of Wagner’s Law for Sri Lanka over the period 1959-2010. The research methodology employed includes testing for unit root, with the Augmented Dickey-Fuller (ADF) test, the use of a Vector Autoregression (VAR) model for the implementation of the Granger causality test, and cointegration tests according to Johansen-Juselious. The cointegration tests indicate that there is a long run relationship between public expenditure (TE) and Gross Domestic Product (GDP), and the ratio of total government (public) expenditure to gross domestic product (TE/GDP) and GDP (First and Six version of Wagner’s Law). Both eigenvalue and trace tests indicate that there is one cointegrating vector. Although the results reported herein do not reveal uniformity among the six versions of Wagner’s Law, the results show an apparent prevalence of the direction of causality from growth of GDP to public expenditure. For the first three versions of Wagner’s Law and the fifth version appear that Granger- causality runs one-way from GDP to TE, GDP to Total Consumption Expenditure (TCE), per capita gross domestic product (GDP/POP) to TE, and (GDP/POP) to per capita government expenditure (TE/POP), respectively. According to empirical findings of this study, it is possible to say that the growth of public expenditure in Sri Lanka is depended on and determined by economic growth as Wagner’s Law