From Resilience to Sustainability: The Mediating Role of Risk Management during Sri Lanka’s 2022/23 Economic Crisis

Authors

  • M.T. Fernando Blue Ocean Insights (Pvt) Ltd
  • H. Pramudika Blue Ocean Insights (Pvt) Ltd
  • L.J. Fernando Institute of Bankers
  • S. Amarasinghe Wayamba University of Sri Lanka

DOI:

https://doi.org/10.31357/jbri.v11i01.8467

Keywords:

Economic Crisis, Mediator Analysis, Risk Management, Social System Resilience, Sustainability

Abstract

This study investigates the interdependence among social system resilience, risk management, and sustainability in the context of Sri Lanka's recent economic crisis. It covers 372 individuals from two districts in Sri Lanka. Data collection was done physically. Data was analysed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Multiple regression analysis shows a significant influence of social system resilience and risk management on sustainability. The findings indicate that risk management mediates the relationship between social system resilience and sustainability. These concepts support filling the knowledge gaps that exist in the current literature related to economic challenges, enhancing social system resilience, and informing policy development. Further, the results guide the policymakers in developing and executing interventions for improved resilience of communities and organizations while providing strength to survive in economic shocks and foster sustainable development. Further, this research highlights the importance of considering these components for the development of sustainability frameworks.

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Published

2025-07-17