Discussion/Working Papers

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Financial inclusion, regulation, and education in Sri Lanka
(Asian Development Bank, 2014-11) Kelegama, Saman; Tilakaratna, Ganga
Sri Lanka has achieved a high level of financial inclusion compared to other South Asian countries. Its financial sector comprises a wide range of financial institutions providing financial services such as loans, savings, pawning, leasing and finance, and remittance and money transfer facilities. There is also evidence that a larger share of households in Sri Lanka accesses multiple financial institutions for their credit and savings needs. However, the use of insurance services, ATM facilities, e-payments, and mobile banking, is relatively low. Financial education is ad hoc and lags behind financial innovation and new products. The information technology (IT) literacy rate is only 35% in Sri Lanka, and with the growing IT–finance nexus, financial awareness and education have become all the more important. Strengthening the regulatory framework governing the microfinance sector and client protection is also crucial for improving financial inclusion in Sri Lanka. Much scope remains to improve financial inclusion, particularly related to cost and quality of financial services provided, and the sustainability of financial institutions.
Multiple Borrowing in the Sri Lankan Microfinance Sector
(Brooks World Poverty Institute, University of Manchester, 2013-09) Tilakaratna, Ganga
This brief discusses the extent of multiple borrowing in the microfinance sector in Sri Lanka, and its implications. It is based on a panel household survey carried out in 2006-07 and 2009-10. Detailed interviews with multiple borrowers and key informant interviews were also conducted.
National level implications of SDG implementation: the case of Sri Lanka
(Southern Voice on post-MDG international Development Goals, 2017-03) Tilakaratna, Ganga; Nanayakkara, Wimal; Madurawala, Sunimalee; Jayaratne, Suwendrani; Wickramasinghe, Kanchana
Sri Lanka is one of the signatories of the UN mandate on Agenda 2030 for Sustainable Development. The Sustainable Development Goals (SDGs) comprise 17 goals and 169 targets, ranging from poverty, inequality, health, education and environment. This paper examines the implications of SDG implementation in Sri Lanka, in particular how the SDGs are embedded in the national context, and issues related to coordination, monitoring, partnerships and stakeholder participation. It reveals that most of the SDGs and their targets are relevant to Sri Lanka, and are in line with the priority areas. The study stresses the need of a designated national-level body to coordinate activities carried out by different stakeholders and to drive implementation and monitoring of the SDGs in Sri Lanka. Participation of a range of stakeholders, including the government, international organisations, private sector and civil society organisations, academia and general public, is crucial for the successful implementation of SDGs. Inadequacy of awareness of the SDGs among many stakeholders and the general public is a key constraint to the effective implementation of the SDGs. Partnership and stakeholder participation can play an important role in raising awareness and monitoring of SDGs, sharing knowledge/expertise, as well as in mobilising financial and technical resources. Monitoring the progress of SDGs will also require strengthening the capacity of the national statistics office and other relevant agencies involved in the data compilation.
Social protection and the MDGs in Sri Lanka
(Southern Voice o post-MDG international Development Goals, 2014) Tilakaratna, Ganga
The role of social protection in achieving the Millennium Development Goals (MDGs) has been widely recognised. The Sri Lankan experience demonstrates that social protection policies and programmes carried out by the successive governments over decades have helped make substantial progress on many goals. The importance of social protection goes beyond MDGs. The issues of ageing population, informalisation of work, low female labour force participation, and increasing vulnerability to shocks also stress the need for comprehensive social protection systems. Social protection has to be a key element of the post-2015 development agenda – either as a goal, or as an instrument to achieve several goals
Social protection in Sri Lanka: current status and effect on labor market outcomes
(Institute for Human Development, 2015) Tilakaratna, Ganga; Jayawardana, Sahan
There are many social protection programs in Sri Lanka targeting vulnerable groups such as the poor, elderly, disabled, children and women. These programs vary from cash and in-kind transfers to pensions, insurance and livelihood development programs. Despite the multitude of programs, the current social protection system has many weaknesses. This study provides a detailed analysis of Sri Lanka’s social protection system and further examines the relationship between social protection and labour market outcomes such as the labor force participation and employment status. The study uses both quantitative and qualitative analyses. The quantitative analysis reveals that social protection income as a share of household expenditure has a marginal negative effect on the probability of an individual’s labour force participation. This relationship holds for the prime age (25-59 years) and the elderly categories of both genders while no significant effect is observed on the youth. With regard to the effect on employment status, the study reveal a positive effect on employment categories like own account workers, but the marginal effects are very small, hence no conclusive interpretations could be made. The study stresses the need for improving the current social protection system, particularly its efficiency and resource allocation within the system.

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