IDEAS home Printed from https://ideas.repec.org/a/wsi/serxxx/v56y2011i03ns0217590811004365.html
   My bibliography  Save this article

Tourism And Growth In Singapore: New Extension From Bounds Test To Level Relationships And Conditional Granger Causality Tests

Author

Listed:
  • SALIH TURAN KATIRCIOǦLU

    (Department of Banking and Finance, Eastern Mediterranean University, P.O. Box 95, Famagusta, North Cyprus, Via Mersin 10, Turkey)

Abstract

This paper empirically investigates the tourism-led growth (TLG) hypothesis in the case of Singapore by employing the bounds test to cointegration, error correction models and Granger causality tests using annual data from 1960 to 2007. Results confirm the existence of long-term equilibrium relationship between international tourism and economic growth in the case of Singapore; real income growth converges to its long-term equilibrium level significantly by 51.4% in the TLG model. The major finding of this study is that the TLG hypothesis is confirmed for the Singaporean economy in the long-term as a result of conditional Granger causality tests.

Suggested Citation

  • Salih Turan Katircioǧlu, 2011. "Tourism And Growth In Singapore: New Extension From Bounds Test To Level Relationships And Conditional Granger Causality Tests," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 56(03), pages 441-453.
    • Handle: RePEc:wsi:serxxx:v:56:y:2011:i:03:n:s0217590811004365
    DOI: 10.1142/S0217590811004365
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0217590811004365
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0217590811004365?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. anonymous, 1988. "Answering the call for banking supervision," The Region, Federal Reserve Bank of Minneapolis, issue Aug.
    2. World Bank, 2009. "World Development Indicators 2009," World Bank Publications - Books, The World Bank Group, number 4367, December.
    3. Haiyan Song & Peter Romilly & Xiaming Liu, 2000. "An empirical study of outbound tourism demand in the UK," Applied Economics, Taylor & Francis Journals, vol. 32(5), pages 611-624.
    4. Mark S. Daskin & Leonard Evans & Randolph Hall & Charles E. M. Pearce & Gordon Newell, 1988. "Bibliographic Section," Transportation Science, INFORMS, vol. 22(4), pages 289-293, November.
    5. Paresh Kumar Narayan, 2005. "The saving and investment nexus for China: evidence from cointegration tests," Applied Economics, Taylor & Francis Journals, vol. 37(17), pages 1979-1990.
    6. Unknown, 1988. "Abstracts: Organized Symposia," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(1), pages 1-5, July.
    7. Sreedhar, 1988. "Treaty Relations between Nepal and Tibet," China Report, , vol. 24(3), pages 243-288, August.
    8. Unknown, 1988. "Abstracts Selected Papers, July 1988," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(1), pages 1-23, July.
    9. Ritter, Archibald R.M., 1988. "Cuba's convertible currency debt problem," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    10. anonymous, 1988. "Born of a panic: forming the Fed System," The Region, Federal Reserve Bank of Minneapolis, issue Aug.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Muhammad Shahbaz & Abu N. M. Wahid & Adnan Haider, 2010. "Empirical Psychology Between Wholesale Price And Consumer Price Indices: The Case Of Pakistan," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 55(03), pages 537-551.
    2. Wong Hock Tsen, 2014. "The Real Exchange Rate Determination: Empirical Evidence From Malaysia," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 59(02), pages 1-19.
    3. Mohd Tahir Ismail & Zaidi Bin Isa, 2009. "Modeling The Interactions Of Stock Price And Exchange Rate In Malaysia," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 54(04), pages 605-619.
    4. Dukhabandhu Sahoo & Maathai K. Mathiyazhagan, 2003. "Economic Growth In India: "Does Foreign Direct Investment Inflow Matter?"," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 48(02), pages 151-171.
    5. Qaiser Munir & Kok Sook Ching & Fumitaka Furouka & Kasim Mansur, 2012. "The Efficient Market Hypothesis Revisited: Evidence From The Five Small Open Asean Stock Markets," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 57(03), pages 1-12.
    6. L. A. Gil-Alana, 2005. "Testing Of Real Convergence In Germany In The Presence Of Structural Breaks," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 50(01), pages 93-101.
    7. Chun-Ping Chang & Chien-Chiang Lee, 2013. "The Economic Voting Hypothesis In The Presence Of Threshold Effects: Evidence From Asymmetric Modeling," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 58(01), pages 1-29.
    8. Donald Lien & Keshab Shrestha, 2012. "The Effects Of Price Dynamics On Optimal Futures Hedging," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 7(02), pages 1-10.
    9. Wing-Keung Wong & Habibullah Khan & Jun Du, 2006. "Do Money And Interest Rates Matter For Stock Prices? An Econometric Study Of Singapore And Usa," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 51(01), pages 31-51.
    10. Ferda Halicioglu, 2010. "An Econometric Analysis of the Aggregate Outbound Tourism Demand of Turkey," Tourism Economics, , vol. 16(1), pages 83-97, March.
    11. Seetaram, Neelu & Forsyth, Peter & Dwyer, Larry, 2016. "Measuring price elasticities of demand for outbound tourism using competitiveness indices," Annals of Tourism Research, Elsevier, vol. 56(C), pages 65-79.
    12. Muhammed Ashiq Villanthenkodath & Mohd Arshad Ansari & Muhammad Shahbaz & Xuan Vinh Vo, 2022. "Do tourism development and structural change promote environmental quality? Evidence from India," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(4), pages 5163-5194, April.
    13. Jayaraman, T. K. & Choong, Chee-Keong & Kumar, Ronald, 2011. "Role of Remittances in Economic Development: An Empirical Study of World’s Two Most Remittances Dependent Pacific Island Economies," MPRA Paper 33197, University Library of Munich, Germany.
    14. Salih Katircioğlu, 2010. "Research Note: Testing the Tourism-Led Growth Hypothesis for Singapore – An Empirical Investigation from Bounds Test to Cointegration and Granger Causality Tests," Tourism Economics, , vol. 16(4), pages 1095-1101, December.
    15. Yoo, Seung-Hoon & Kwak, So-Yoon, 2010. "Electricity consumption and economic growth in seven South American countries," Energy Policy, Elsevier, vol. 38(1), pages 181-188, January.
    16. Emmanuel Ziramba, 2013. "Aggregate Outbound Tourism Demand in South Africa: an Econometric Analysis," Journal of Economics and Behavioral Studies, AMH International, vol. 5(5), pages 260-267.
    17. Salih Katircioğlu & Sami Fethi & Hamit Caner, 2014. "Testing the higher education-led growth hypothesis in a small island: an empirical investigation from a new version of the Solow growth model," Quality & Quantity: International Journal of Methodology, Springer, vol. 48(2), pages 729-744, March.
    18. Ronald R. Kumar & Radika Kumar, 2012. "Exploring the Nexus between Information and Communications Technology, Tourism and Growth in Fiji," Tourism Economics, , vol. 18(2), pages 359-371, April.
    19. Karasoy, Alper, 2022. "Is innovative technology a solution to Japan's long-run energy insecurity? Dynamic evidence from the linear and nonlinear methods," Technology in Society, Elsevier, vol. 70(C).
    20. Bloch, Harry & Rafiq, Shuddhasattwa & Salim, Ruhul, 2015. "Economic growth with coal, oil and renewable energy consumption in China: Prospects for fuel substitution," Economic Modelling, Elsevier, vol. 44(C), pages 104-115.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:serxxx:v:56:y:2011:i:03:n:s0217590811004365. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/ser/ser.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.