Browsing by Author "Rathnayake, R.M.S.S."

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Determinants of Non-Performing Loans: Evidence from Sri Lanka
(Faculty of Commerce and Management Studies, University of Kelaniya, 2021) Rathnayake, R.M.S.S.; Dissanayake, D.M.R.U.
The increasing trend of non-performing loans (NPL) in Sri Lanka threatens the whole banking system. Also, it is doubtful whether the policymakers have the capacity and capability to identify NPL determinants because of the missing information. Therefore, this study attempts to identify the determinants of NPL in licensed commercial banks in Sri Lanka to fill the void in the finance research arena. This study is carried out with a sample of eight licensed commercial banks using macroeconomic factors and bank-specific factors: the real interest rate, annual GDP growth, and annual inflation rate, exchange rate, and unemployment rate, efficiency of the bank, bank size, lending rate, and ROA. Financial data were analyzed for the period 2008-2018 using panel data regression analysis. Results show that GDP growth rate, Exchange rate, Unemployment rate, and bank size have a significant effect on non-performing loans in the Sri Lankan banking industry at a 95% confidence interval. The inflation rate also has a significant impact, however, only at a 90% confidence level. However, bank efficiency and return on asset (ROA) do not show any significant relationship with NPLs. Among these relationships, only the exchange rate shows a positive relationship with the NPL, where all other variables show a negative relationship.
Foreign Policy of the United States and US Rise to Hegemony
(Department of Economics, University of Kelaniya, 2016) Rathnayake, R.M.S.S.
In today’s competitive international arena, it is widely known that the United States (US) is at the top of the world’s hierarchy of power. The US emerged preeminent from the II World War and ever since, the country is predominant in world’s economic, political, technological and military sectors. Though the Soviet Union posed a substantial threat to the preponderance of the US during the Cold War, after the disintegration of the Soviet Union, the US rose to power as the undisputed hegemon in the international order. In its relations with other actors in the international system, the US utilizes its foreign policy to achieve its national interests as well as secure its hegemonic ambitions. The objective of the study is to analyze the US foreign policy and identify the causes and circumstances that led to the hegemony of the US. This study is mainly based on secondary data such as books, articles, newspapers, journals and the World Wide Web is also used as an important research tool. The analysis of the data and information collected is done in a theoretical perspective using hegemonic stability theory and cycles of hegemony and war theory. As per the study, the US foreign policy during the II World War, decline of Britain’s power, post-II World War and Cold War policies of the US and the disintegration of the Soviet Union paved the way for US hegemony in the world order.
Hegemony of the United States and the Middle East
(Department of Economics, University of Kelaniya, 2016) Rathnayake, R.M.S.S.
The hegemony of the United States (US) in the international order is a widely accepted truth in today’s world. During the Cold War era, the US predominance was greatly curtailed by the power of the Soviet Union and after the Soviet Union’s disintegration, the US rose to power as the undisputed hegemon in the international order. Through the years that followed, the US has been able to influence internal politics of many states using its preponderant power. The Middle East has been and still continues to be a region of great importance in US foreign policy. Since the British forces withdrew from the Middle East, the US has attempted to ensure its preeminence in this strategically important region. Therefore, the US implements various foreign policy strategies which are aimed at enhancing its influence in the Middle East. The main objective of this study is to analyze the foreign policy strategies that the US implements towards the Middle East and examine whether the US foreign policy strategies towards the Middle East serve in safeguarding its hegemonic position in the world order. This study adopts a qualitative methodology and is mainly based on secondary data. An extensive literature survey was conducted and the information and data collected are analyzed in a theoretical perspective. The Hegemonic Stability Theory, Realism, Offensive Realism and Offense-Defense Theory are the main theories that are incorporated in data analysis. In the analysis, US foreign policy towards Iran, Iraq, Israel-Palestine is given prominence. As per the study, the US foreign policy strategies towards the Middle East serve in safeguarding the US hegemony in the world order. However, the US foreign policy strategies towards the Middle Eastern region have a negative impact on the image of the US as a benevolent hegemon.
Impact of Transnational Politics of the Tamil Diaspora on the Peace Building Process in Sri Lanka
(Research Centre for Social Sciences, Faculty of Social Sciences, University of Kelaniya, Sri Lanka, 2016) Rathnayake, R.M.S.S.
In today’s globalized world, a diaspora, a community of people living outside of their motherland, has become a salient actor or a force determining the internal as well as external policies of the home country through its transnational nature. The Tamil diaspora, mainly active in countries such as France, England, Canada and the USA, is no exception. During the decades-long civil war between the Liberation Tigers of Tamil Eelam and the Government of Sri Lanka, the Tamil diaspora extended monetary, material and moral support for the cause of the Tamils striving to create a separate land for their ethnicity in Sri Lanka. With the end of the ethnic conflict and the defeat of the LTTE in 2009, the Tamil diaspora emerged as a dominant actor in Tamil political discourse continuing the struggle of Tamils for equality and justice, through different approaches and strategies. This study aims at identifying the characteristics, dynamics and current trends of transnational politics of the Tamil diaspora and thereby finally, examining the impact of transnational politics of the Tamil diaspora on the peace building process of post-war Sri Lanka. The study is qualitative in nature and an extensive literature review has been conducted. Data collected are analyzed using main aspects of the study of diaspora, conflict transformation and peace building. As per the study, the Tamil diaspora through its transnational politics has a negative impact on the peace building process of Sri Lanka, if it continues to orient towards its pro-LTTE and pro-separatist ideology. At the same time, it can be concluded that the constructive potentials of the Tamil diaspora can be utilized for conflict transformation thereby facilitating a fruitful peace building process in Sri Lanka.
National Security as a Pretext for Securing US Hegemony after 9/11
(Faculty of Graduate Studies, University of Kelaniya, 2015) Rathnayake, R.M.S.S.
In today‘s world, national security is on top of every country‘s agenda. Governments adopt various policies to protect the physical integrity of State and its people from multidimensional threats. The national security of the United States (US) was greatly threatened by the September 11, 2001 al-Qaeda terrorist attacks (referred to in the study as 9/11) on the US. In response to the attack, the US government launched the national security strategy of War on Terror to mitigate terrorist acts, demolish terrorist organizations and block financing of terrorism by overthrowing the regimes that support terrorism. Since the disintegration of the Soviet Union in early 1990s, the US is regarded as the undisputed superpower in the international system. Previous scholarly efforts elaborate how the US has been able to influence international politics, asserting its hegemonic position in the world in the post-Cold War era. However, less attention is paid to research whether national security strategies are employed to maintain US hegemony in the international arena. Hence, the objective of the study is to examine whether the US utilized national security as a pretext to secure its hegemony in the world order after the 9/11 terrorist attacks. The study adopts a qualitative methodology and is mainly based on secondary data. Hegemonic stability theory, realism, offensive realism and offence-defence theory are incorporated to analyze post-9/11 national security strategies of the US and its hegemonic ambitions. As per the study, the US manipulated the tragedy of 9/11 to implement a national security strategy which promoted violence and repression rather than abolishing terrorism, to be used as a pretext for securing US hegemony in the world through its military might.
US Hegemony and Global Governance
(Faculty of Graduate Studies, University of Kelaniya, Sri Lanka, 2016) Rathnayake, R.M.S.S.
In today’s globalized world, national borders are increasingly becoming less and less important and transnational actors have come to dominate the international arena. Concepts such as denationalization and deterritorialization occupy a significant place in global political discourse while opportunities for governance beyond the Westphalian nation-state have been created. The idea of global governance moves one step further from globalized markets and societies and extends the sphere of politics to the global level. Although noted for its inherent ambiguities, the concept of global governance revolves around political integration of states and centralizing human societies through formal and informal mechanisms on a global scale. After the disintegration of the Soviet Union, the United States was designated as the undisputed superpower or hegemon providing political leadership to the world. However, as the process of global governance dwindles down the importance of nation-states and embarks on a course of transnational integration and institutionalism, global governance and US hegemony have become two conflicting ideas. In this backdrop, this study aims at examining the impact of global governance on hegemonic intentions of the United States and whether the US hegemony can survive in a context of global governance. This study includes three main objectives, first of which being to critically analyze the concept of global governance using available literature and international relations theory, thus identifying the key aspects of the concept. Secondly, the study aims at investigating the extent of US hegemony in the current world order and the third objective of this study is to examine the impact of global governance on US hegemony. This study is qualitative in nature and is mainly based on secondary data. As per the study, the US hegemony will not be diminished in a context of global governance. The study concludes that at times, the United States can be seen as a driver of global governance with its political role in establishing and maintaining international or global institutions that govern international relations today. According to the concept of global governance, international organizations or institutions may take over the role of a hegemon in the international arena. However, as per the study, the US would profit from global governance using its influence and power over international organizations, thus surviving at a powerful position in the global milieu.
US Pivot to Asia and its Impact on the Rise of China
(Centre for Chinese Studies, Department of Modern Languages, Faculty of Humanities, University of Kelaniya, Sri Lanka, 2016) Rathnayake, R.M.S.S.