SAmple issue 1

Abstract This article is a theory-focus paper that argues that in the process of migrants’ transnational living, the children of migrants/ 1.5G eventually create a culture of their own which is argued to be different from the culture their own parents have. The author of this paper maintains that this happens by virtue of the children of migrants'/1.5G's exposure to the milieu of their parents' work destination and their socialization with people whose cultural, social, political, and religious orientation is far from theirs. More specifically, this paper asserts that with transnational living, bottom-up and top-down trajectories of agents of transformation highly influence the formation of identities of the children of migrants/1.5G. To clearly illustrate this phenomenon, the author of this paper used two bipolar views illustrating the effects of transformative agents: from a bottom-up perspective is Herrera-Lima's view called transnational social networks (2005) and from a top-down view is the commonly held one which is a combination of all other influences outside Lima's framework. The author believes that the interplay of the two opposing trajectories can most likely impinge on the identity-formation dynamics of the children of migrants/ 1.5G.

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This study empirically analyzes vector autoregression and causal relationship of growth rate of money supply, the growth rate of aggregate output, budget deficit and the rate of inflation in Sri Lanka from 1953 to 2012 to estimate the hypothesis of growth in money supply increases inflation. Also, it tests the hypothesis that, a reason for narrowmoneyis the budget deficit of Sri Lanka. This study finds evidence that narrow money supply has positive and statistically significant effect on inflation in Sri Lanka which accepts the thesis statement. Also the study finds evidence that the budget deficit has positive and statistically significant effect on both money supply and inflation which accept the other hypothesis of this study. On the other hand, the study finds the additional evidence that inflation has a significant positive effect on budget deficit which was not a hypothesis of the study. The empirical results suggest that, the expansion monetary policy cause to increase the inflation in Sri Lanka and one reason for the expansive monetary policy is the budget deficit. On the other hand inflation also causes to increase the budget deficit. Therefore, these relationships show a vicious cycle of inflation in Sri Lanka.