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A History of Underdevelopment and Political Economy of Inflation in Sri LankaDiscussion of Socio-Economic and Statistical Results

A History of Underdevelopment and Political Economy of Inflation in Sri Lanka: Discussion of... [The chapter empirically demonstrates that inflation in Sri Lanka is a structural phenomenon that cannot be isolated from specific relationship which investing class establishes with resources of the economy. It concludes statistically that growth in unproductive activity is a major determinant of inflation in Sri Lanka. The authors demonstrate that mechanisation increases cash costs of cultivation by reducing family labour inputs and that increase in marginal output leads to an increase in monetary inputs to nonmonetary inputs ratio in paddy cultivation causing supply price to rise. Further, the One Way ANOVA test conducted between inflation in Sri Lanka and advanced economies indicates that lower composition of productive capital tends to elevate Sri Lanka’s inflation beyond that of advanced economies by approximately two times.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A History of Underdevelopment and Political Economy of Inflation in Sri LankaDiscussion of Socio-Economic and Statistical Results

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References (4)

Publisher
Springer Singapore
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2020
ISBN
978-981-15-5663-0
Pages
131 –162
DOI
10.1007/978-981-15-5664-7_5
Publisher site
See Chapter on Publisher Site

Abstract

[The chapter empirically demonstrates that inflation in Sri Lanka is a structural phenomenon that cannot be isolated from specific relationship which investing class establishes with resources of the economy. It concludes statistically that growth in unproductive activity is a major determinant of inflation in Sri Lanka. The authors demonstrate that mechanisation increases cash costs of cultivation by reducing family labour inputs and that increase in marginal output leads to an increase in monetary inputs to nonmonetary inputs ratio in paddy cultivation causing supply price to rise. Further, the One Way ANOVA test conducted between inflation in Sri Lanka and advanced economies indicates that lower composition of productive capital tends to elevate Sri Lanka’s inflation beyond that of advanced economies by approximately two times.]

Published: Jul 25, 2020

Keywords: ARDL; ANOVA

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