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Tourism And Economic Growth: The Case Of Singapore

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  • LEE, Chew Ging

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Abstract

This paper investigates the long-run and the short-run dynamics between tourism and economic growth in Singapore. Using the bounds test developed by Pesaran et al. (2001), cointegrating relationship between tourism and economic growth is not found. The standard Granger causality test reveals that there is a unidirectional Granger causality from economic growth to tourism. This study provides evidence to support growth-led tourism hypothesis.

Suggested Citation

  • LEE, Chew Ging, 2008. "Tourism And Economic Growth: The Case Of Singapore," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 8(1), pages 89-98.
  • Handle: RePEc:eaa:eerese:v:8:y2008:i:8_5
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    References listed on IDEAS

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    1. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
    2. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
    3. Jacint Balaguer & Manuel Cantavella-Jorda, 2002. "Tourism as a long-run economic growth factor: the Spanish case," Applied Economics, Taylor & Francis Journals, vol. 34(7), pages 877-884.
    4. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
    5. Barro, Robert J & Lee, Jong-Wha, 2001. "International Data on Educational Attainment: Updates and Implications," Oxford Economic Papers, Oxford University Press, pages 541-563.
    6. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. repec:eee:touman:v:32:y:2011:i:4:p:922-933 is not listed on IDEAS
    2. Metaxas, Theodore & Folinas, Sotiris, 2016. "Gambling Tourism and Economic Development: Some lessons from Macao," MPRA Paper 72397, University Library of Munich, Germany.
    3. Ma, Tao & Hong, Tao & Zhang, Haozhe, 2015. "Tourism spatial spillover effects and urban economic growth," Journal of Business Research, Elsevier, vol. 68(1), pages 74-80.
    4. Carmen GONZÁLEZ & Francisco JAREÑO, 2014. "Financial Analysis Of The Main Hotel Chains Of The Spanish Tourism Sector," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 14(2).
    5. Holzner, Mario, 2011. "Tourism and economic development: The beach disease?," Tourism Management, Elsevier, vol. 32(4), pages 922-933.
    6. Muhammad Ahad, 2016. "Does Tourism-led Growth Hypothesis exist in Pakistan? A Freshlook from Combine Cointegration and Causality Approach with Structural Breaks," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 4(2), pages 94-111, February.

    More about this item

    Keywords

    Tourism; Economic growth; Granger causality;

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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