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    Financial Development and Environmental Degradation in the South Asian Region
    (Faculty of Commerce and Management Studies University of Kelaniya., 2024-11-11) Ranasinghe R. A. N. P.; Weerasinghe W. D. J. D.; Abeyrathna R.M.L.M.
    This study evaluates the possible long-term effects of financial development on environmental degradation. It emphasizes how financial development, institutional structures, and foreign investment determine the level of green development. The research uses the deductive approach. The data is extracted from the World Bank Statistics. The sample comprises seven countries in the South Asian region, and information is gathered from 2000 to 2020. Foreign direct investment, broad money supply, and domestic credit to the private sector are used to evaluate financial development. Energy use, CO2 emissions, greenhouse gas emissions, and the depletion of natural resources are used to measure environmental degradation. The data are analyzed using panel data linear regression analysis. The researcher’s findings conclude that Financial Development has a negative relationship with the four measures of Environmental Degradation in the South Asian region. This article reviews the relationship between financial development and environmental degradation in South Asia. In contrast to previous literature, the authors provide a broad money supply as an economic development variable instead of bank credit to the private sector. Also, this article reviews recent data up to the year 2020. Future researchers can develop an alternative methodology to study only using secondary data, and future researchers can use primary data for this type of study.
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    The study of the Effect of Financial Development on Income Inequality in Sri Lanka
    (Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, 2015) Wijesundara, W.M.S.S.B.
    Income inequality is an important economic issue faced by most of the developed and developing countries. Many attempts have been made to identify a link between economic growth and income inequality in Sri Lanka. But there is a lack of literature available to identify a link between financial development and income inequality in Sri Lanka. This paper basically investigates the effect of financial development on income inequality in Sri Lanka with a new framework. This study attempts to analyze the factors responsible for income inequality in Sri Lanka. In this study the Broad money to GDP and Domestic credit to the private sector by banks as a share of GDP are used to measure the direct impact of Financial Development and also used Inflation and Government expenditure as other variables which affect income inequality. This research presents the empirical evidences of Effect of Financial Development on Income Inequality in Sri Lanka for the period of 1980-2012. The test results also confirmed that there is a linear relationship between financial development and Income inequality. And also this paper emphasized that there is a positive relationship between Government expenditure and Income inequality.