References

Adekunle W, O. Adeniyi and S. Orekoya (2021). ‘Non-linear Relation Between External Debt and Economic Growth in Nigeria: Does the Investment Channel Matter?’, Iranian Economic Review, 25(1): 45-56.
Akram, N. (2017). ‘Role of Public Debt in Economic Growth of Sri Lanka: An ARDL Approach’, Pakistan Journal of Applied Economics, 27(2): 189-212.
Akram, N. (2017). ‘Role of public debt in economic growth of Sri Lanka: An ARDL Approach’. Pakistan Journal of Applied Economics, 27(2), 189-212.
Akyüz, Y. (2007). ‘Debt Sustainability in Emerging Markets: A Critical Appraisal’, Working Paper 61, New York, NY: DESA.
Al-Refai, M. F. (2015). ‘Debt and Economic Growth in Developing Countries: Jordan as a Case Study’, International Journal of Economics and Finance 7 (3), 134–143.
Athukorala, P. and S. Rajapathirana (2000). ‘Liberalization and Industrial Transformation: Lessions from the Sri Lankan Experience, Economic Development and Cultural Change, 48(3), 543 – 572.
Bakar, N. A., and S. Hassan. (2008). ‘Empirical Evaluation On External Debt Of Malaysia’, International Business and Economics Research Journal 7 (2), 95–108.
Buchanan, J.M. (1964). ‘Public Debt, Cost Theory, and the Fiscal Illusion’,  in James M. Ferguson (ed), Public Debt and Future Generations, Chapel Hill: University of North Carolina Press, 150–63.
Cai, P., Q. Gan, and S-J. Kim (2018). ‘Do Sovereign Credit Ratings Matter for Foreign Direct
Investments?’, Journal of International Financial Markets, Institutions & Money, 55, 50-64.
Central Bank of Sri Lanka (2021). ‘Annual Report’, Colombo, CBSL.
Claessens, S., Detragiache, E., Kanbur, R., and Wickham, P. (1996). ‘Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries’, World Bank Policy Research Working Paper No. 1618, World Bank, Washington, DC.
Clements, B., R. Bhattacharya and T.Q. Nguyen (2003). ‘External Debt, Public Investment and Growth in Low Income Countries’, IMF Working Paper 03/249.
Cunningham, R.T. (1993). ‘The Effects of Debt Burden on Economic Growth in Heavily Indebted Nations’, Journal of Economic Development, 18 (1), 115-126.
Diamond, P. (1965). ‘National Debt in a Neoclassical Growth Model’, American Economic Review, 55(5), 1126-1150.
Draksaite, A. (2014). ‘Government debt stabilization in a small open economy within currency board system’, Procedia social and behavioral sciences: 19th international scientific conference Economics and Management 2014, Riga, Latvia. vol. 156, ISSN 1877-0428 p. 524-528.
Draksaitea, A., V. Snieskaa, G. Valodkienea, and A. Daunorienea (2015). ‘Selection of Government Debt Evaluation Methods Based on the Concept of Sustainability of the Debt’, 20th International Scientific Conference Economics and Management, www.sciencedirect.com.
Easterly, W. (2005). ‘National Policies and Economic Growth: A Reappraisal’, in Philippe, A. and S. Durlauf (Ed.), Handbook of Economic Growth, Amsterdam: Elsevier.
Farahane, M. J. and A. Heshmati (2020). ‘Matias Jaime Farahane Trade and Economic Growth: Theories and Evidence from the Southern African Development Community’, Discussion Paper Series, IZA DP No. 13679, IZA – Institute of Labor Economics.
Fosu, A. K. (1999). The external debt burden and economic growth in the 1980s: Evidence from sub-Saharan Africa. Canadian Journal of Development Studies, 20(2), 307- 318.
Fosu, A.K. (1996), ‘The Impact of External Debt on Economic Growth in Sub-Saharan Africa’, Journal of Economic Development, 12(1), 93-118.
Greiner, A. and B. Fincke (2015), ‘Public Debt, Sustainability and Economic Growth: Theory and Empirics’, Springer Cham Heidelberg New York Dordrecht London.
Hameed, A., Ashraf, H., Chaudhary, M.A. (2008). ‘External Debt and its Impact on Economic and Business Growth in Pakistan’, International Research Journal of Finance and Economics, 20, 132-140.
Hansen, H. (2002). ‘The Impact of Aid and External Debt on Growth and Investment’, CREDIT Research Paper, No. 02/26, The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT), Nottingham.
Imbs, J. and Ranciere, R. (2005). ‘The Overhang Hangover’, World Bank Policy Research Working Paper 3673, World Bank.
Jilenga, M. T., H. Xu, and I.-M. Gondje-Dacka. (2016). ‘The Impact of External Debt and Foreign Direct Investment on Economic Growth: Empirical Evidence from Tanzania’, International Journal of Financial Research 7 (2): 154–162.
Kappagoda, N. (2009). ‘ Public Debt in the Current International Environment’, in Tennakoon, A. (Ed.), Sri Lankan Economy in Transition: Progress, Problems, and Prospects, Vijitha Yapa Publications, Colombo.
Karagol, E. (2002). ‘The Causality Analysis of External Debt Service and GNP: The Case of Turkey’, Central Bank Review 1 (2002): 39-64.
Karagol, E. (2004), “External Debt and Economic Growth Relationship Using Simultaneous Equations. Turkey’, University of Balikesir.
Kharusi S. A. and M. S. Ada (2018). ‘External Debt and Economic Growth: The Case of Emerging Economy’, Journal of economic integration, 33(1), 1141-1157.
Krugman, P. (1988). ‘Financing vs. Forgiving a Debt Overhang’, Journal of Development Economics, 29(3): 253-268.
Kyereboah‐Coleman, A. and K. F. Agyire‐Tettey, (2008). ‘Effect of Exchange‐rate vVlatility on Foreign Direct Investment in Sub‐Saharan Africa: The Case of Ghana’, Journal of Risk Finance, 9 (1),  52-70. https://doi.org/10.1108/15265940810842410.
Matthew, A. O. and A. O. Adetayo (2022). ‘Debt Sustainability and Economic Growth in Nigeria’, 3rd International Conference on Energy and Sustainable Environment, IOP Conf. Series: Earth and Environmental Science, 012053.
Ministry of Finance, Economic Stabilization & National policies Sri Lanka (2022) Annual Report 2021, Colombo, Sri Lanka.
Modigliani, F. (1961). ‘Long-run Implications of Alternative Fiscal Policies and the Burden of the National debt’, Economic Journal, 71(4), 730-755.
Ndubuisi, P. (2017). ‘Analysis of the impact of external debt on economic growth in an emerging economy: Evidence from Nigeria’, African Research Review, 11(4), 156-173.
Nega, N. M. (2021). ‘Debt Sustainability and Economic Growth: Evidence from Low Income Sub Saharan Africa Countries’, Addis Ababa University, http://etd.aau.edu.et/handle/123456789/19376
Oks, D. and van Wijnbergen, S. (1995). ‘Mexico after the debt crisis: Is growth sustainable?’, Journal of Development Economics, 47(1), 155 – 178.
Ouedraogo, J. (2015). ‘External Debt, Quality of Institutions and Economic Growth’, in A. B Elhiraika, A. C. K. Mukungu and W. Nyoike, (Eds), Regional Integration and Policy Challenges in Africa, London: Palgrave Macmillan, pp. 124–42.
Patenio, J.A.S., Agustina, T. (2007), ‘Economic Growth and External Debt Servicing of the Philippines: 1981-2005’, 10th National Convention on Statistics (NCS), October 1-2.
Pattillo, C., H. Poirson, and L. Ricci (2004), ‘What are the Channels through which External Debt Affects Growth?’, IMF Working Paper 04/15. Washington, DC.
Pattilo, C., H. Poirson, and L. Ricci (2002). ‘External Debt and Growth’, IMF Working Paper, WP/02/69, Washington, DC.
Pesaran, M.H. and Shin, Y. (1999). ‘An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis’, In: Strom, S. (Ed.), Chapter 11 in Econometrics and Economic Theory in the 20th Century the Ragnar Frisch Centennial Symposium, Cambridge University Press, Cambridge, 371-413.
Prizzon, A., and Mustapha, S. (2014). ‘Debt Sustainability in HIPCs in a New Age of Choice.’, Working Paper No. 397, Overseas Development Institute, London, UK.
Qureshi, I. and Z. Liaqat  (2020). ‘The long-term Consequences of External Debt: Revisiting the Evidence and Inspecting the Mechanism Using Panel VARs. Journal of Macroeconomics, 63:103184.
Rodrik, D. (2008). ‘The Real Exchange Rate and Economic Growth’, Brookings Papers on Economic Activity, http://www.brookings.edu/economics/bpea/bpea.aspx.
Sachs, J.D. (1989). ‘The debt overhang of developing countries, in Debt, stabilization and development’, in Calvo, G.A., Findlay, R., Kouri, P., and De Macedo, J.B. (Eds), Debt, Stabilization and Development, Basil Blackwell, Oxford.
Serieux, J. and Y. Samy (2001). ‘The Debt Service Burden and Growth: Evidence from Low Income Countries’, WIDER Development Conference on Debt Relief 17–18 August 2001, Helsinki, Finland.
Serven, L. (2007). ‘Fiscal Rules, Public Investment, and Growth’, World Bank Policy Research Working Paper 4382.
Shabbir S. (2013). ‘Does External Debt Affect Economic Growth: Evidence from Developing Countries’, SBP Working Paper Series, No 63, State Bank of Pakistan, Research Department.
Shabbir, S. (2013). ‘Does External Debt Affect Economic Growth: Evidence from Developing Countries’, Working Paper Series, 2012, 63, Pakistan: SBP, 1–20.
Sharaf, M. F. (2022). ‘The asymmetric and threshold impact of external debt on economic growth: new evidence from Egypt’, Journal of Business and Socioeconomic Development  2 (1), 2022 1-18. https://www.emerald.com/insight/2635-1374.htm.
Shin, Y., B. Yu and M. Greenwood-Nimmo  (2014). ‘Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL framework’, In  Robin C.­S.and· W. C.­ Horrace (Ed.), Festschrift in honor of Peter Schmidt, Springer, New York, NY.
Soydan, A. and S. Bedir (2015). ‘External Debt and Economic Growth: New Evidence for an Old Debate’, Journal of Business Economics and Finance, 4(3), 500-522.
Spratt, S. (2009). ‘Development Finance; Debates, Dogmas and Directions’, Routledge, Abingdon, Oxon OX14 4RN.
Stella, S. S. and G. Vamvoukas (2015). ‘The impact of Government Debt on Economic Growth: An Empirical Investigation of the Greek Market’, The Journal of Economic Asymmetries, 12, 34 – 40.
Stephens, M. (2001). ‘External Debt, Government Spending and Growth in Heavily Indebted Poor Countries, unpublished Ph.D. thesis, New York University.
Sulaiman, T. (2014). ‘Analysis: Decade After Debt Relief, Africa’s Rush to Borrow Stirs Concern’, Reuters, London, March 18. https://www.reuters.com/article/us-africa-debt-sustainability-analysis-
Toktaş, Y., A. Altiner and E. Bozkurtc (2019). ‘The relationship between Turkey’s foreign debt and economic growth: an asymmetric causality analysis’, Applied Economics, 51(26), 2807–2817.
Toktas, Y., Altiner, A. and Bozkurt, E. (2019). ‘The Relationship Between Turkey’s Foreign Debt and Economic Growth: an Asymmetric Causality Analysis’, Applied Economics, 51 (26), 2807–2817.
Wang, F. (2009). ‘The Effects of Foreign Borrowing Policies on Economic Growth: Success or Failure?’, Journal of Economic Policy Reform, 12(4), 273-284.
Wang, F. (2009). ‘The Effects of Foreign Borrowing Policies on Economic Growth: Success or failure?’, Journal of Economic Policy Reform, 12(4), 273-284.
Weeks, J. (2000). ‘Latin America and High Performing Asian Economies: Growth and Debt’, Journal of International Development, 12(5), 625-654.

World Bank (2022). ‘Sri Lanka Development Update: Protecting the Poor and Vulnerable in a Time of Crisis’, IBRD-IDA World Bank Group.

.