PERS 2014
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Item type: Item , The effect of decentralization of power on economic development: the Sri Lankan Experience(University of Peradeniya, Sri Lanka, 2014) Samaranayake, D. I. J.; Sri Ranjith, J. G.Introduction : Economic development at the regional level was regarded as an expected major intention with the commencement of the Provincial Council (PC) system in 1987. However, even after almost three decades of power devolution the expected outcome of the PC system is seemingly yet to be realized. Regardless of the fact that the current practice of regional development policy under the PC system is less effective, successive regimes, including the current, have made no clear decision to abolish it. According to Uduporuwa (2007), development strategies implemented by Sri Lanka within the past fifty years have not contributed to reduce the socio-economic disparities in Sri Lanka. Gunaruwan and Samarasekara (2013) found that the PCs spend largely on emoluments and spend for their own existence rather than for economic development at regional level. These arguments therefore raise the question on the rationality of continuing with the existing PC system in Sri Lanka. The theoretical aspects of power devolution show the severe limitations of centrally controlled national planning. Rondinelli and Cheema (1983) say that decentralization allows greater representation for various political, religious, ethnic and tribal groups in decision making that could lead to greater equity in the allocation of resourcesand investment. This mechanism allows officials to disaggregate and tailor development plans and programs at sub-national levels. According to Sri Ranjith (2007) decentralization occurs when powers and responsibilities are transferred to local levels with management functions of fiscal, financial, personnel and legal authority. Although there are diverse views on this topic, the lack of proper investigation into what determines the regional growth and the strengths of respective regional driving forces will leave this debate unsolved. This research therefore investigates the effect of regional development driving forces under the PC system in Sri Lanka.Item type: Item , Relevance of trade facilitation in South Asian economies: Sri Lankan perspective(University of Peradeniya, Sri Lanka, 2014) Samaranayake , D. I. J.Introduction : The term ‘Trade Facilitation’ refers to reducing the complexity and cost of the trade transaction process. Such facilitation seeks to ensure that trade-related activities take place in a well-organized and transparent manner, covering the whole trade chain across national borders from exporter to importer. Chowdhury (2005) empirically analyzed trade reforms and economic integration in South Asia (SA). His results suggest that small economies like Bangladesh and Sri Lanka acquire relatively low gains from trade even though these countries have adopted liberalized trade policies. Otsuki et al., (2012) examined the progress and challenges of SA in trade liberalization and facilitation, quantifying the gains from trade to the region based on the gravity model approach for 101 countries. India is the only country in SA with a large economy compared to other countries in the region. Therefore it is not appropriate to apply/adopt the Indian experience and policies in economies like Sri Lanka, Nepal, Bhutan in their trade facilitation process. Empirical studies on trade facilitation process are not available for small economies. This study focuses the trade facilitation process in SA with reference to Sri Lanka. Findings of this study will help to refine related policies in trade facilitation in Sri Lanka.Item type: Item , The role and effectiveness of gender responsive budgeting in education and health policies of Punjab in Pakistan(University of Peradeniya, Sri Lanka, 2014) Fareed , F.Introduction : Achieving gender equality and women’s rights has become an international agenda, over the last few decades, especially in the discourse of development. However, the progress in the recognition of women’s human rights in international instruments has not been matched by progress in the implementation and enforcement of these rights by state bodies. Gender Responsive Budgeting (GRB) is adopted as a distinct strategy in many countries to advance gender equality through affirmative pro-poor budgetary allocations (Sabir, 2009). GRB is not just about recognizing women’s rights and presenting number crunching figures related to demographics and social conditions, instead, it tries to establish gender mainstreaming with social interactions of women and men through an institutionalized and administrative process. In the past, the government has formulated Gender Reform Action Plan (GRAP), ratified CEDAW and established National Policy for Development and Empowerment of Women in Pakistan. In addition, recognizing the importance of gender-sensitive policies, the Government of Pakistan jointly with the UNDP and its donors introduced GRB in Punjab in five different sectors; health, education, agriculture, population welfare and social welfare development (Wattoo, 2012). Consequently, a Gender Budget Statement of the Government shows a progress in this regard. However, the meticulous instruments reveal that the inherent challenges faced in implementing GRB in Pakistan. Moreover, it is always difficult and challenging to persuade those who are at the helm of policy making to transform their standard ways of working and to introduce gender-sensitive modifications (Budlender and Mahbub, 2007). As a result, women become part of the administrative and institutional process, but still there is lack of female participation in these aspects. Hence, the available literature on GRB worldwide and in Pakistan is confined to the Gender Budget Statements (prepared annually from 2006-2011) but no studies have been conducted on how effective is GRB in adopting a gender lens in public budgeting.Item type: Item , Gender based occupational segregation and economic empowerment of women in Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Harshani , M. G. H.; Abhayaratne , A. S. P.Introduction : Women’s economic empowerment is the capacity of women to participate and benefit in growth process of an economy. The economic empowerment recognizes the women’s contributions in employment and value of respects and their dignity. Sri Lankan women have achieved a relatively higher status in terms of civil rights, education, employment etc., when compared with women in other developing countries. However, the Sri Lankan women have not fully achieved equal rights and gender equality according to international norms in all aspects including employment (Centre for Women’s Research, 2011). Although, Sri Lankan government had the commitment to ensure gender equality and recognizes women’s right since ratifying the Convention on the Elimination of All Forms of Discrimination against Women in 1981, women experienced discrimination in their career lives. While the state provides equal employment opportunities in the public sector employment, there is a wide discrepancy in the law and the reality. Alam (2014) indicates that educated female can perform a significant role in their family economy by having an employment. They also receive better status and power in the family as well as in the society due to financial gains. According to West (2006), working status is important to empower women economically and the employed women also have greater likelihood for higher empowerment in other aspects than those women do not employed. Despite the equal access to women at all levels of education, women in Sri Lanka are still facing discrimination in the employment sector (Moore et al. 2009). Majority of Sri Lankan women are employed in plantation, free trade zones, stereotype jobs, foreign employment etc., however previous studies have not examined sufficiently the ability of women for access to jobs pay higher remuneration and existing barriers which limit to entering them in such job market. Therefore, it is essential to identify current situation of women’s participation in different type of employment and its role in economically empowering the Women in Sri Lanka. It is also necessary to identify sustainable remedies to overcome discriminations against women entering to highly paid employment sector.Item type: Item , Capital account liberalization and capital mobility: an analysis based on Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Bandaranayake, A.Introduction: Mobility of capital is the ability of capital to move across national boundaries seeking higher returns. According to Eichengreen et al. (1998), capital mobility creates opportunities for portfolio diversification, risk sharing, and inter-temporal trade. Bailliu (2000) found evidence that capital inflows foster higher economic growth. An argument by Quirk and Evans (1995) on capital account liberalization emphasis that the growing difficulties of enforcement policies designed to limit international capital flows increasingly invasive and distorting in a world of highly developed capital markets. Eichengreen et al. (1999) describe as “explosive growth” of international financial transactions and capital flows as one of the most far-reaching economic developments of the twentieth century. There is a dearth of studies that examines the impact of capital account liberalization in Sri Lanka, but most of those studies are commentaries and it does not consider the empirical relationship between liberalization and capital mobility.Item type: Item , The effect of human capital and gender difference of employees on participation in decision making high positions: a study reference to Eheliyagoda Pradeshiya Sabha area in Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Shafna M. M. M. S. F.; Rajendran S.Introduction : In an economic perspective, capital refers to factors of production which are used to produce goods and services. In a broad sense, the concept of capital is semantically a mixture of human capital and physical capital. Human capital is concerned as a production element which could generate added-value to production. The theory of human capital emphasizes that accumulation of human capital among the workforce which enhances labor productivity and increases their earning. Hence, accumulation of human capital largely affects the growth of wage rate and firms’ productivity which finally contributes to national economy (Denison, 1962 and Schultz, 1961). Human capital investment choices play a major role on differences in human capital accumulation of males and females which leads to gender differences in occupation (Barron et al., 1993). There is no variation in investing in human capital between males and females at the initial stage of human capital formation among the labor force in Sri Lanka. However, there are gender differences found in the decision making role between males and females in higher positions (Bandle and Whilhelm, 2007). These gender differences has two dimensions. A study by Gayle et al., (2012) showed that the uncertainties of employers regarding the capability of females reduce their probability to be hired to high positions compared to males. Edirisinghe (2008) shows that though females have the abilities similar to the male such as efficiency, decision making skills, they are in fewer decision making positions compared to males in Sri Lanka. Jayaweera (2008) found that the decision making power of females in some services is too low compared to males in Sri Lanka, especially in planning, science and technology, education, administration, local income service, accountancy and legal sector services. The previous studies relating to Sri Lanka do not empirically examine the relationship between gender differences in decision making higher positions and gender differences in investing in human capital. This is the research gap that this study attempts to fill.Item type: Item , Dynamic linkages between public debt and economic growth: an empirical analysis of Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Ushanthiny M.; Sivarajasingham S.; Vinayagathasan T.Introduction : Increasing public debt in many countries as a result of deficit government budget and balance of payment is one of the serious economics and political issues in many developing countries. Huge public debt is likely to increase the inflation, interest rate and budget deficit. Misztal (2010) found a positive and significant relationship between economic growth and public debt in the Euro zone area while Checherita and Rother (2010); Manmohan and Woo (2010); and Cunningham (1993) identified a strong negative relationship between growth and debt burden. However, Darius (2001) said that although there is an adverse impact on macroeconomic variables due to rising debt of an economy, even an appropriate level of government debt could be linked to economic growth in developing countries. The amount of public debt has been a critical issue in Sri Lanka for many decades which resulted in socio-economic and political implications. The share of public debt to GDP was 34% in 1960 and it shows an upward trend over the years. Particularly, Sri Lanka has experienced more than 100% debt share to GDP in 2001. However, it was decreased to 79.1% in 2012 (Central Bank of Sri Lanka, 2013). Studies related to the quantitative assessment of the impact of public debt on economic growth are inadequate and limited in Sri Lankan context. Thus, this research attempts to answer the question: Does public debt induce economic growth?Item type: Item , Dynamic linkages between import prices and consumer price: evidence from Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Tharsika P.; Sivarajasingham S.Introduction : Sri Lanka is a small economy and its consumer and intermediate goods accounts for more than 80% of total import expenditure where sugar, wheat, milk and milk products, fuel, fertilizer and red dhal share a larger proportion of imports. Hence domestic consumer prices and wholesale prices are influenced by world market prices. Further, import prices highly influence the inflation rate in the country which is also a politically sensitive issue. There were a number of empirical studies focused on the dynamic relationship between consumer price and import price. Yunculer (2009) used the vector-autoregressive (VAR) model to investigate the relationship between the consumer price and external factors such as import price, oil price and exchange rate in Turkey. The results showed that pass-through of external shocks on wholesale price is greater than consumer price, though, import price and exchange rate affect consumer price while import price quickly pass-through than exchange rate. Hahn (2003); Takatosh, et.al (2005); Campa (2005); Hampton (2001); and Kiptui (2009) investigated causal relationship between import price and consumer price. Duma (2008) examined the pass-through of external shocks to inflation in Sri Lanka for the period of 2003 to 2007. The findings indicate that pass-through of external shocks is incomplete on domestic price inflation while internal factors mostly influence on inflation. However, only few studies have investigated the relationship between import prices and domestic prices. Dynamic linkages between import prices and consumer price in Sri Lanka are not adequately investigated.Item type: Item , The role of spice gardens on income generation of agro-entrepreneurs in the central province of Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Perera R. A. S. A.; Kuruppuge R. H.Introduction : Agro-tourism has been defined as a process which attracting visitors and travelers to cultivated areas with educational and recreational aims. Agro-tourism provides rural experiences to travelers while generating indirect revenues for the rural households. Agro-tourism can also encourage primary industry, agriculture as well as tourism sector; and creates a win – win situation for all stakeholders (Singh, 2007). Agro based tourism is one of the optimal solutions to improve the rural communities’ living standards and maintains the socio cultural and ecological equilibrium (Silva and Wimalaratana, 2006). Sri Lanka’s rural community has been dominated by agriculture since ancient times and they have produce various kinds of agricultural products such as rice, grains, spices, rubber, coconut etc. (World Fact Book, 2012). On the other hand, Sri Lanka is one of the favorite travel destinations in South Asia for tourism. Hence, the advisory panel on community based sustainable tourism in Sri Lanka (2008) identified that Sri Lanka as a suitable destination for Agro-tourism practices. Spice gardens in Sri Lanka wdirect impact on their daily income. However, since tourism sector of the country is not fully explored the spice garden based agro-tourism opportunities are still in their initial stage, while only a few agro- tourism destinations are operating at present with minimal facilities and services (Lakpura, 2013). The issues related to this problem and the role of spice gardens on income generation and its contribution on development of the agro based tourism industry have not been empirically studied.ere established for commercial purpose by the Dutch during the colonial period and these were established around the country. Most of them are based on agro-tourism projects. The literature review of the study clearly indicates that the arrival of tourists and the strategies followed by the spice gardens owners haveItem type: Item , The impact of human capital on economic growth in Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Rathnayaka R. M. S. M.; Athukorala P. P. A. W.Introduction : Human capital is the knowledge, skills and competencies embodied in individuals that facilitate the creation of personal, social and economic wellbeing (OECD, 1999). With the development of endogenous growth theory around 1980s, human capital was recognized as an important factor in the production function. [Y = Af (K, H L), ]. According to Romer (1986) and Lucas (1988) technology has no role in long run economic growth. It always depends on endogenous factors like human capital. This is demonstrated by the above growth equation. Several empirical studies represent the impact of human capital on economic growth and demonstrate positive and significant long run impact. According to Halder and Mallik (2010), human capital has a significant effect on economic growth in India. However, Kassa (2006) has found a negative impact of human capital on economic growth. While human capital consists of both investments on health and education, Pleigt (2011) identify only higher education promotes growth in England.When compared with other developing nations, Sri Lanka has very impressive human development indicators. However, the investigation of the impact of human capital on economic growth in Sri Lanka has not received much attention. This paper attempts to fill this gap by empirically testing the impact of human capital on economic growth in Sri Lanka.Item type: Item , Impact of microfinance on women entrepreneurial development : a case of ILO-PALM joint intervention in Eastern Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Vijesandiran S.; Luvikaran P.Introduction : Entrepreneurship is the dynamic process of creating incremental wealth (Donald and Richard, 2001). The development of microfinance institutions (MFIs) over the last two decades had a positive impact on making entrepreneurial development and it become a powerful instrument in combating poverty in developing countries (Ngozi, 2002) and contributed to empowering women and removing gender inequalities. Thilepan and Thiruchelvam (2011) proved that microfinance has a major role on entrepreneurial development through the favorable loan conditions, low interest rate, flexible repaying period and trainings in Sri Lanka. Small and micro-enterprises (SMEs) is the major source of living ofmany people in the post conflict environment which also ensures sustainable livelihood of women headed families in North and Eastern provinces of Sri Lanka (Thilepan and Thiruchelvam, 2011). Government Organizations (GOs); and International and Local Non- Governmental Organizations (INGOs and NGOs) have become increasingly involved in providing financial services to women entrepreneurial development to ensure sustainable livelihood in these areas. However, the topic of women entrepreneurship development has been neglected in the social science research in the past (Sathibama, 2010). Consequently, few empirical research on impact assessment of microfinance on women entrepreneurial development in post conflict environment in Sri Lanka have been conducted and even they lacking empirical analysis. Therefore, this study attempts to fulfill this research gap by investigating the impact of the microfinance intervention on development of the women headed entrepreneurship in Sri Lanka.Item type: Item , Financial development and economic growth : the post-liberalization experience in Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Kumari U. W. B. M.; Vinayagathasan T.; Abayasekara C. R.Introduction : Financial development is considered by many economists to be of paramount importance for economic growth. A large number of studies have focused on the theoretical and empirical relationship between financial development and economic growth. Schumpeter (1934) highlighted how financial institutions could actively induce innovation and future growth by identifying and funding productive investments. Government restrictions on the banking system such as interest rate ceilings and directed credit would negatively affect the development of the financial sector and harm economic growth (McKinnon and Shaw, 1973). While a considerable body of empirical literature confirmed a positive relationship (Ayadi et al., 2013; Estrada et al., 2000; Levine, 1997; and Goldsmith, 1969) some other literature suggests a negative association (Shan et al., 2001; Demetriades and Hussein, 1996; and Neusser and Kugal, 1996) between financial development and economic growth. In the Sri Lankan case, Perera and Paudel (2009) using 1955- 2005 data, found two-way causality between broad money and economic growth but, they found little evidence that financial development boosts economic growth. Amarathunga (2010) found that economic growth causes financial development in the long-run and there is no reverse causation. The above studies on Sri Lanka covered the transition period of the economy. The post-1977 reforms included financial liberalization with its accompanying dramatic changes in the structure, market and instruments in the financial system. It is likely that changes in the financial development – economic growth nexus before and after 1977 would impact on the empirical results obtained therein. Therefore this study attempts to investigate the impact of financial development on economic growth of Sri Lanka after liberalization of the economy.Item type: Item , Food price dynamics in Sri Lanka and its statistical properties(University of Peradeniya, Sri Lanka, 2014) Inthuja T.; Sivarajasingham S.Introduction : Food price movements have significant impacts on the world’s political and economic stability as well as the welfare of the people in every country (Wodon and Zaman, 2010). The increase in food prices has the most nefarious consequences (Joseph and Wodon, 2008). It reduces purchasing power and food security and increases hunger, poverty and malnutrition. Further, higher food inflation challenges macroeconomic stability and growth of an economy. Food prices are one of the most significant sources of inflation in Sri Lanka. Food and non-alcoholic beverages account for 47 percent of total household expenditure (Department of Census and Statistics, 2012). The issue of food price dynamics has gained increasing attention in the economics literature (Aye, 2012; Baek and Koo, 2009; Durll et al., 2010; and Ularo, 2010) in recent years. Ratnasiri (2009) has examined the main determinants of inflation in Sri Lanka but has not included food prices in his analysis. Cooray (2008), Karunathilaka (1974) and Sivarajasingham (2012, 2013) have studied food price transmission and its transitory nature in Sri Lanka. However, the above studies did not focus on food price dynamics and its statistical properties in Sri Lanka. On the other hand, the characteristics of inflation induced by the food prices have been extensively analyzed in developed countries, but not given much attention in developing economics, including in Sri Lanka. This gap is addressed in this paper.Item type: Item , The effectiveness of stress management interventions on reducing occupational stress: a study with special reference to an apparel firm in Sri Lanka(University of Peradeniya, Sri Lanka, 2014) Hansini W. M.; Wijesooriya M.; Dodankotuwa J. B.Introduction : It has been identified through many research projects that workplace stress is unavoidable and it brings adverse effects to the individual employees as well as to the productivity of the organization they work for. Presently, there is a growing recognition of work-stress as an important occupational health problem. Health based occupational stress contributes to an increasing proportion of worker compensation claims, health care, disability, absenteeism and productivity losses (Agrawal, 2001 and Arnold, 2010). The apparel industry is a growing sector which contributes immensely for the growth of the Sri Lankan economy through foreign currency earnings along with employment and many other positive effects (Central Bank of Sri Lanka, 1997). It is marked as an area which carries a high rate of stress related issues regarding work practices and the working environment (Fonseka, 2006). It mainly causes occupational health problems and productivity losses. These issues have not been properly addressed in the Sri Lankan context and some research questions still remain unsolved. For example, “Do firms make enough effort to manage stress of their employees? Another issue is that“is there enough awareness created by the organizations regarding stress management and how the workers cope up with their stress?” Accordingly, this study focuses on these issues and mainly concentrates on occupational stress and stress management interventions in apparel industry.Item type: Item , පාසල් හා විශ්ව විද්යාල මට්ටමින් ආර්ථික විද්යා විෂය හැදෑරීමේ වර්තමාන ප්රවනතාව(පේරාදෙණිය විශ්වවිද්යාලය, ශ්රී ලංකාව, 2014) දොරබාවිල, එස්.; ගුණසේකර, වී. ජී. එස්.කේ.හැදින්වීම : ආර්ථික විද්යාව යනු අතීතයේ මෙන්ම වර්තමානයේ ද පාසල් හා විශ්ව විද්යාල මට්ටමින් අධ්යයනය කෙරුනා වූ ප්රායෝගික දැනුම් සම්භාරයකින් සමන්විත වඩාත් කාලෝචිත වූ විෂය ධාරාවකි. ආර්ථික විද්යාඥයන් විසින් වර්තමානයේ ආර්ථිකයේ පවතින වඩා තරගකාරි හා ගෝලීය කරණයට බර වූ විවෘත බව හේතුවෙන් ආර්ථික විද්යා විෂය සඳහා පවතින වටිනාකම වඩා අවධාරණය කරනු ලබයි. නමුත් Webber and Mearman (2009) විසින් සිදු කරන ලද අධ්යයනය අනුව පෙන්වා දෙන්නේ 1980 සිට එක්සත් රාජධානියේ අධ්යයන පොදු සහතික පත්ර උසස් පෙළ (අපොස උ.පෙළ) විභාගය සඳහා ආර්ථික විද්යාව හදාරන සිසුන් ප්රමාණයේ හාඋපාධි මට්ටමින් ආර්ථික විද්යාව හදාරන සිසුන් ප්රමාණයේ ක්රමයෙන් පහළ යෑමක් හදුනාගත හැකි බවයි. Siegfried (2000) විසින් ද ඊට සමාන අධ්යයනයක යෙදෙමින් එක්සත් ජනපදයේ ද ආර්ථික විද්යා විෂය සඳහා ලියාපදිංචි වන සිසුන් ප්රමාණයේ ක්රමයෙන් පහළ යාමක් පවතින බව දක්වා ඇත. ශ්රී ලංකා විභාග දෙපාර්තමේන්තුව මගින් පල කරන ලද දත්ත අනුව ලංකාව තුළද ආර්ථික විද්යා විෂය හැදෑරීම සඳහා පාසල් මට්ටමින් යොමුවන සිසුන් ප්රමාණයේ පැහැදිලි ප්රතිශතාත්මක පහළ යාමක් හදුනාගත හැකි අතර විශ්ව විද්යාල මට්ටමින්ද මෙම තත්ත්වය එසේම පවතින බව බොහෝ දෙනෙකුගේ මතයයි. රටක් සම්බන්ධයෙන් සළකා බැලූ විට ගතික ආර්ථික විචල්යයන් පාලනය සඳහා ආර්ථික විද්යාත්මක ක්රම වේදයන් ඉතා වැදගත් වන අතර ආර්ථිකමය වශයෙන් දැනුවත් බවකින් යුතු තර්කාන්විත රට වැසියන් රටක් සතු වීම රටේ ආර්ථික ක්රියාකාරිත්වය ක්රමවත්ව හසුරුවාලීමේලා මහඟු පිටුවහලක් වේ.ඒ අනුවසංවර්ධනය වෙමින් පවතින රටක් ලෙස ශ්රී ලංකාව තුළ ආර්ථික විද්යා විෂය ධාරාව සඳහා වඩා වැදගත් ස්ථානයක් හිමි විය යුතු වුවද වර්තමානයේ දැක ගත හැකි ක්රමයෙන් විෂයෙන් ඉවත් වීමේ තත්ත්වය රටේ ආර්ථිකය හැසිරවීමේ දී ඉදිරි කාලය තුළ ගැටළුකාරී තත්ත්වයන් නිර්මාණය වීමේලා හේතු සාධක විය. හැක. එසේම සිසුන් විෂය හැදෑරීම සඳහා යොමුවීමේ ස්වාභාවය ඔස්සේ ලංකාව තුළ ආර්ථික විද්යාව විෂයේ දිගුකාලීන පැවැත්ම පිළිබඳ යම් ඉඟියක් ද සපයා ගැනීමේ අවස්ථාව පවතී.තව දුරටත් මෑත කාලීනව විෂය සඳහා පවතින ඉහළ Z-SCORE* මය අගය, විෂය නිර්දේශයේ වෙනස්වීම් ආදී කරුණු හේතුවෙන් ආර්ථික විද්යා විෂය සම්බන්ධයෙන් ශ්රී ලංකාව තුළ පෙර පැවති තත්වයට වඩා වෙනස් ප්රවනතා නිර්මාණයේ වැඩි ඉඩ ප්රස්ථාවක් පවත්නා බව පෙනී යයි. එබැවින් මෙම සියළුම කරුණු සලකා බලා විෂය සම්බන්ධයෙන් පවතින මෙම විචලතා පිළිබඳ විධිමත් ලෙස හේතු කාරණා විමසීමක් සිදු කෙරෙනා නිසි අධ්යයනයක් සිදුකිරීම වැදගත් වේ. ඒ අනුව එම පර්යේෂණ පරතරය මුල් කර ගනිමින් ආර්ථික විද්යා විෂයෙහි කාලීන විචලතා සම්බන්ධයෙන් ක්රමවත් ලෙස කරුණු අධ්යනයක් සිදු කිරීම මෙම අධ්යයනය තුලින් අපේක්ෂා කෙරේ.