Does tourism effectively stimulate Malaysia's economic growth?
This study attempts to further verify the validity of the tourism-led growth hypothesis in Malaysia using a multivariate model derived from the Solow growth theory. It employs annual data from 1975 to 2011. We find that economic growth, tourism and other determinants are cointegrated. Specifically,...
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| Format: | Article |
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Elsevier
2015
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| _version_ | 1825720056590368768 |
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| author | Tang, C.F. Tan, E.C. |
| author_facet | Tang, C.F. Tan, E.C. |
| author_sort | Tang, C.F. |
| collection | UM |
| description | This study attempts to further verify the validity of the tourism-led growth hypothesis in Malaysia using a multivariate model derived from the Solow growth theory. It employs annual data from 1975 to 2011. We find that economic growth, tourism and other determinants are cointegrated. Specifically, tourism has a positive impact on Malaysia's economic growth both in the short-run and in the long-run. The Granger causality test indicates that tourism Granger-causes economic growth. All this provides the empirical support for the tourism-led growth hypothesis in Malaysia. In light of this, any policy initiative that promotes tourism could contribute to Malaysia's economic growth. (C) 2014 Elsevier Ltd. All rights reserved. |
| first_indexed | 2024-03-06T05:29:11Z |
| format | Article |
| id | um.eprints-11625 |
| institution | Universiti Malaya |
| last_indexed | 2024-03-06T05:29:11Z |
| publishDate | 2015 |
| publisher | Elsevier |
| record_format | dspace |
| spelling | um.eprints-116252015-01-02T02:45:11Z http://eprints.um.edu.my/11625/ Does tourism effectively stimulate Malaysia's economic growth? Tang, C.F. Tan, E.C. This study attempts to further verify the validity of the tourism-led growth hypothesis in Malaysia using a multivariate model derived from the Solow growth theory. It employs annual data from 1975 to 2011. We find that economic growth, tourism and other determinants are cointegrated. Specifically, tourism has a positive impact on Malaysia's economic growth both in the short-run and in the long-run. The Granger causality test indicates that tourism Granger-causes economic growth. All this provides the empirical support for the tourism-led growth hypothesis in Malaysia. In light of this, any policy initiative that promotes tourism could contribute to Malaysia's economic growth. (C) 2014 Elsevier Ltd. All rights reserved. Elsevier 2015 Article PeerReviewed Tang, C.F. and Tan, E.C. (2015) Does tourism effectively stimulate Malaysia's economic growth? Tourism Management, 46. pp. 158-163. |
| spellingShingle | Tang, C.F. Tan, E.C. Does tourism effectively stimulate Malaysia's economic growth? |
| title | Does tourism effectively stimulate Malaysia's economic growth? |
| title_full | Does tourism effectively stimulate Malaysia's economic growth? |
| title_fullStr | Does tourism effectively stimulate Malaysia's economic growth? |
| title_full_unstemmed | Does tourism effectively stimulate Malaysia's economic growth? |
| title_short | Does tourism effectively stimulate Malaysia's economic growth? |
| title_sort | does tourism effectively stimulate malaysia s economic growth |
| work_keys_str_mv | AT tangcf doestourismeffectivelystimulatemalaysiaseconomicgrowth AT tanec doestourismeffectivelystimulatemalaysiaseconomicgrowth |