SLIIT is a leading higher education institution in Sri Lanka. Known for its stellar reputation, the Business School at SLIIT has a unique educational scope which gives students a way into the complex business world of today. The exemplary team of students Ms. Rishani Rathnayake, Ms. Bhakthi Jayathilake, Ms. Dananja Bodinayake and Ms. Deumi Kathriarachchi [...]


SLIIT Business School Takes Yet Another Major Step Forward Publishing in a Highly Ranked Journal


Prof. Ruwan Jayathilaka

SLIIT is a leading higher education institution in Sri Lanka. Known for its stellar reputation, the Business School at SLIIT has a unique educational scope which gives students a way into the complex business world of today. The exemplary team of students Ms. Rishani Rathnayake, Ms. Bhakthi Jayathilake, Ms. Dananja Bodinayake and Ms. Deumi Kathriarachchi Kathriarachchi, supervised by Prof. Ruwan Jayathilaka of SLIIT Business School, received due recognition for their journal titled “Exploring the growth direction: the impact of exchange rate and purchasing managers index on economic growth in Sri Lanka” published in the reputed, world-renowned journal “Quality and Quantity”. This is a high-ranked Scopus-indexed journal that constitutes a point of reference for all European and non-European scholars willing to discuss instruments of methodology for more rigorous scientific results in the social sciences with a Scimago Ranking in the Q1, Scopus top 4% with CiteScore of 7.5.

Speaking with us, the authors of the journal paper gave a brief overview of the research and shared their collective experience at SLIIT Business School.

Q : Congratulations on your  publication. Could you all elaborate on the research

A: Both international and regional studies have looked at how changes in the exchange rate affect economic development. Only a small number of studies have been conducted on this topic in local contexts, and none have looked at the relationship between the Purchasing Managers’ Index and the exchange rate and economic growth in Sri Lanka. Therefore, with this study, what we aimed to do was to use an applied research methodology and rely on secondary data from quarterly reports by the Central Bank of Sri Lanka and the Department of Census and Statistics of Sri Lanka between 2015 and 2021 to examine the effects of the exchange rate and the Purchasing Managers’ Index on economic expansion.

In this analysis, we used the Granger Causality Wald test and the Vector autoregression model. Based on data analysis, it was discovered that the exchange rate significantly influenced economic growth, while GDP growth and the Purchasing Managers’ Index both negatively impacted it. The Purchasing Managers’ Index and the exchange rate also failed as predictors of the exchange rate. The study’s findings highlight the importance of the exchange rate and the manufacturing Purchasing Managers’ Index as leading indicators of macroeconomic growth. We believe these results will be useful for the decision-making processes of the Sri Lankan government, policymakers, and foreign investors.

Q :    How did you achieve such a significant achievement, and what  was the support you got from SLIIT?

A: This was a challenging task to begin with. Our primary objective from the start was to publish in a peer-reviewed journal with a strong international reputation. Having to juggle both university and work makes things even more challenging.

Without the invaluable direction and encouragement of our supervisor, Prof. Ruwan Jayathilaka, Head of the Department, none of this would have been possible. We knew from the start that we would want to seek the guidance of Prof. Jayathilaka to supervise this research because of his known reputation as a scholar in his field. During our initial brainstorming session, he planted the idea that setting a realistic goal of having our research article published in a high-quality journal was important.

His support and advice have been invaluable to us, together with the facilities and the learner-centric environment provided by SLIIT. He routinely met with researchers once a week to assess their progress. Thanks to this, we’re able to continue working on a high-quality research article. The chance to study under the tutelage of a renowned professor like Prof. Ruwan Jayathilaka is a tremendous blessing.

Our parents and other family members deserve the most credit for always being there for us. They constantly reminded us that we were capable of great things and pushed us to excel in all that we did.

The majority of the credit for this positive result goes to their unwavering encouragement and blessings. Finally, we would like to thank our friends, who have supported us throughout the years.

Prof. Ruwan Jayathilaka, SLIIT Business School, as Supervisor for the Paper, shares his views on the importance of H-index rankings and Students’ achievement.

Q: In your view, how important is it for students to achieve H-Index ranking status?

A: Scholars and their institutions gain credibility and bring attention towards themselves when they publish high-quality research publications. This can ensure the success of both the institute and the individual, and it can also help to generate additional funds. A higher H-index indicates greater significance, exposure, and real dissemination. Students can use the publications they make early in their careers as a springboard to build their research and academic skills and produce a more robust body of research outputs.  This possibly warrants a positive impact on their employability, which benefits both them and the university.

Q : How did you guide the students towards this accomplishment?

A: It is especially helpful for novice researchers to have a mentor who is well-versed in different research methods to guide them. It’s an ongoing procedure that requires keeping in mind that students have interests and goals outside of BBA. This includes things like laying out goals and deadlines early on, being adaptable, making a plan, and efficiently allocating time for supervision. Second, to work well with other SLIIT students and take full advantage of all the institute has to offer. More importantly, a student’s development is greatly aided by timely and helpful feedback.

The influence of extraordinary, inspirational leadership and motivated scholars and researchers coming together is what made this achievement possible. I would like to express my heartfelt gratitude to Prof. Samantha Thelijjagoda, Pro-Vice-Chancellor (International and Research),  the Dean of the SLIIT School of Business Prof. Suren Peter, Module Leader of Comprehensive Research Project Prof. Wasantha Rajapakshe, the Examiner Ms. Anupama Dissanayake, and the lecturers for encouraging the students to conduct this study and for their commitment of excelling as a multidisciplinary, research-driven university”.

The Dean of SLIIT Business School, Prof. Suren Peter, shared his thoughts on this matter.

Q : In your assessment, how important is research in education, and what is your message for the graduate publishers involved in this article?

A:. “I’d like to express my congratulations to the research team for their publication on evaluating the impact of exchange rate and purchasing managers index on economic growth. SLIIT Business School encourages impactful research and given the major impact the steep depreciation of the exchange rate had on the economy over the last year, the study becomes even more significant. SLIIT Business School takes great pride that the research has been accepted for publication in a prestigious journal. While having a significant impact on business research, the ideas developed by SLIIT’s faculty also provide meaningful engagement with today’s social and environmental challenges. SLIIT has maintained its position as Sri Lanka’s premier research-driven business school due to its continuously growing and impactful research output over the past few years. We believe that this success exemplifies the intellectual prowess of our world-class faculty and moves us closer to our goal of making significant intellectual contributions to the upliftment of our society. SLIIT is a top-tier institution committed to expanding the body of research knowledge through innovative study and ensuring that it has a positive impact on improving the quality of life of its stakeholders”

The research paper can be accessed here:



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