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Article
Publication date: 8 October 2018

Sharmila Gamlath and Radhika Lahiri

The purpose of this paper is to explore the properties of the variable elasticity of substitution (VES) production function, and examine the dynamics of growth associated with it.

Abstract

Purpose

The purpose of this paper is to explore the properties of the variable elasticity of substitution (VES) production function, and examine the dynamics of growth associated with it.

Design/methodology/approach

The VES production function is incorporated into an otherwise standard Diamond overlapping generations model.

Findings

Depending on parameter combinations, the economy can achieve a unique and stable steady state akin to that observed in the Solow-Swan model, reach a poverty trap or transition towards an upper bound of per capita capital stock. A special case of the VES production function is also consistent with unbounded growth.

Research limitations/implications

The paper is theoretical in nature. Further empirical analysis could shed deeper insights into the results presented in this study.

Practical implications

The VES production function, when applied to the context of the Diamond model, can capture a variety of growth experiences observed in the empirical literature.

Social implications

In the context of the Diamond model, a higher value of a particular parameter in the production function leads to greater intergenerational income and consumption inequality. Hence, the study provides a potential explanation for intergenerational inequalities observed in practice.

Originality/value

The study demonstrates the empirical value of the VES production function in explaining observed differences in factor shares, rewards and elasticities within and between countries over time.

Details

Journal of Economic Studies, vol. 45 no. 5
Type: Research Article
ISSN: 0144-3585

Keywords

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Article
Publication date: 5 August 2019

Sharmila Gamlath and Radhika Lahiri

The purpose of this paper is to explore the manner in which the degree of substitutability between public and private health expenditures contributes towards the…

Abstract

Purpose

The purpose of this paper is to explore the manner in which the degree of substitutability between public and private health expenditures contributes towards the distribution of wealth and political economy outcomes in the long run.

Design/methodology/approach

An overlapping generations model with heterogeneous agents where a person’s probability of survival into old age is determined by a variable elasticity of substitution (VES) health production function with public and private expenditures as inputs is developed. Public expenditure on health is determined through a political economy process.

Findings

Analytical and numerical results reveal that higher substitutability between private and public expenditures at the aggregate level and a higher share of public spending in the production of health lead to higher long run wealth levels and lower inequality. In the political equilibrium, higher aggregate substitutability between public and private health expenditures is associated with more tax revenue allocated towards public health. For most parameter combinations, the political economy and welfare maximising proportions of tax revenue allocated towards public health care converge in the long run.

Research limitations/implications

The paper is a theoretical investigation of how substitutability between public and private health expenditures affect transitional and long run macroeconomic outcomes. These results are amenable to further empirical investigation.

Practical implications

The findings indicate that policies to improve institutional aspects that yield higher substitutability between public and private health expenditures and returns to public health spending could lead to better long run economic outcomes.

Social implications

The results provide a political economy explanation for the low investments in public health care in developing countries, where aggregate substitutability between public and private health expenditures is likely to be lower. Furthermore, comparing the political economy and welfare maximising paradigms broadens the scope of the framework developed herein to provide potential explanations for cross-country differences in health outcomes.

Originality/value

This paper adopts an innovative approach to exploring this issue of substitutability in health expenditures by introducing a VES health production function. In an environment where agents have heterogeneous wealth endowments, this specification enables a distinction to be made between substitutability of these expenditures at the aggregate and individual levels, which introduces a rich set of dynamics that feeds into long run outcomes and political economy results.

Details

Journal of Economic Studies, vol. 46 no. 4
Type: Research Article
ISSN: 0144-3585

Keywords

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Article
Publication date: 28 October 2013

Sharmila Gamlath

– The research aims to include good governance as a facet in the measurement of human development.

Abstract

Purpose

The research aims to include good governance as a facet in the measurement of human development.

Design/methodology/approach

A modified Human Development Index (MHDI) was computed by including a governance dimension computed using the six governance indicators published by the World Bank. The rankings using the new index were obtained and compared to the rankings of the United Nations Development Programme's (UNDP's) HDI.

Findings

The rank correlation of the original and modified indices was very high, but there were many big rank changes for individual countries in each HDI group. These rank changes could be largely reconciled in the light of the rankings of these countries in the Corruption Perceptions Index and the Democracy Index.

Research limitations/implications

The research considers the measurement of human development at a point in time alone and incorporates 2010 governance indicators into the 2011 HDI, which could lead to a discrepancy in time periods considered. Furthermore, the governance indicators are measures of perceptions which can be subjective. The Practical implications paper does not delve into the country-specific factors that may have caused big rank changes.

Practical implications

The paper builds a case for incorporating, or at least providing the option of including a governance dimension in the HDI.

Originality/value

The paper is a novel attempt to incorporate good governance as a dimension in the HDI. It reasserts the need for policy-makers and governments to realize that peoples' capabilities cannot be realized in the absence of good governance, and that whilst improving other facets of human development, much attention needs to be paid towards establishing good governance.

Details

Humanomics, vol. 29 no. 4
Type: Research Article
ISSN: 0828-8666

Keywords

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Article
Publication date: 4 January 2013

Sharmila Gamlath

The research aims to describe Sri Lanka's education system, discuss reforms that have been implemented within the school, university and vocational education sectors in…

Abstract

Purpose

The research aims to describe Sri Lanka's education system, discuss reforms that have been implemented within the school, university and vocational education sectors in the recent past and suggest potentially fruitful reforms whilst identifying the various constraints which can affect their implementation.

Design/methodology/approach

A descriptive approach is employed, with extensive review of related literature and the use of relevant secondary data where appropriate.

Findings

The research shows the need for considerable reform of Sri Lanka's education system, especially with regard to improving the quality of state education and encouraging greater private sector participation.

Research limitations/implications

The research shows the deficiencies Sri Lanka's education system suffers from and suggests means to overcome them. However, the political and social pressures may present obstacles upon the implementation of such courses of action.

Social implications

The recommendations offered by the research could make a contribution towards transforming the education system in Sri Lanka into one which can produce empowered individuals who can find employment within the emerging sectors of the economy and thereby improve overall living standards in the country.

Originality/value

The paper makes a novel contribution by encompassing school, tertiary and vocational education in Sri Lanka. It shows the numerous problems that could arise in a context where a universal system of free education from the primary to the tertiary level exists vis‐à‐vis a flourishing private sector, and would be of value to education policy‐planners in Sri Lanka and other countries with both state and private sector provision of education.

Details

Asian Education and Development Studies, vol. 2 no. 1
Type: Research Article
ISSN: 2046-3162

Keywords

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Article
Publication date: 12 April 2013

Nishada Dhananjaya Dahanayake and Sharmila Gamlath

This study intends to investigate the extent to which the Sri Lanka Army can be described as a learning organization.

Abstract

Purpose

This study intends to investigate the extent to which the Sri Lanka Army can be described as a learning organization.

Design/methodology/approach

The main tool of analysis used was the Dimensions of the Learning Organization Questionnaire (DLOQ) developed by Marsick and Watkins, with the exclusion of the sections on financial and knowledge performance.

Findings

Using the DLOQ, the research found that the dimensions of a learning organization proposed by Marsick and Watkins are present in the Sri Lanka Army, although with some aberrations between different ranks.

Research limitations/implications

The study was conducted without a directly connected dependent variable.

Practical implications

This study shows how even a non‐profit‐oriented organization like the Sri Lanka Army can be informed from a concept like the learning organization, and indeed emphasizes the overarching need for a military organization to operate as a learning organization. Therefore, this research has reiterated the fact that the learning organization is a prescription that all organizations, even not‐for‐profit ones, should ardently pursue. The research also offers recommendations for improvements in the performance of the Sri Lanka Army by identifying certain weaknesses.

Originality/value

By initiating the use of the DLOQ in the Sri Lankan as well as a military context, the study has opened the doors for administering the DLOQ and similar tools for measuring the extent of organizational learning and the presence and strength of learning organizational characteristics in Sri Lanka.

Details

The Learning Organization, vol. 20 no. 3
Type: Research Article
ISSN: 0969-6474

Keywords

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