Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence
The tourism–growth nexus within the subregional economic group comprising Brunei, Indonesia, Malaysia, and the Philippines has been virtually unexplored with respect to the exchange rate. The baseline hypotheses are growth-led tourism and tourism-led growth, whereby a model is conceptualized with re...
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| Format: | Article |
| Language: | English |
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Routledge
2021
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| Online Access: | https://eprints.ums.edu.my/id/eprint/32583/1/Tourism%20development%20and%20economic%20growth%20in%20BIMP-EAGA_%20A%20conceptualization%20with%20panel%20data%20evidence%20_ABSTRACT.pdf |
| _version_ | 1825714718578311168 |
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| author | Yong, Enn Lun |
| author_facet | Yong, Enn Lun |
| author_sort | Yong, Enn Lun |
| collection | UMS |
| description | The tourism–growth nexus within the subregional economic group comprising Brunei, Indonesia, Malaysia, and the Philippines has been virtually unexplored with respect to the exchange rate. The baseline hypotheses are growth-led tourism and tourism-led growth, whereby a model is conceptualized with respect to international prices and exchange rates. Data for the 2004–2018 period are analyzed using error corrections, causality, and panel cointegrating regressions with the consideration of cross-sectional dependence using state-of-the-art empirical methods. Significant findings, aided by a conducive exchange rate, favor the tourism-led growth hypothesis. The exchange rate is determined to be a crucial reason for divergence from and convergence toward the long-run equilibrium. The depreciation of the exchange rate appears to be the major factor supporting a sustainable tourism-led growth performance; hence, spillover effects are also expected to other countries in the Association of Southeast Asia Nations. |
| first_indexed | 2024-03-06T03:15:58Z |
| format | Article |
| id | ums.eprints-32583 |
| institution | Universiti Malaysia Sabah |
| language | English |
| last_indexed | 2024-03-06T03:15:58Z |
| publishDate | 2021 |
| publisher | Routledge |
| record_format | dspace |
| spelling | ums.eprints-325832022-05-18T04:21:55Z https://eprints.ums.edu.my/id/eprint/32583/ Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence Yong, Enn Lun G154.9-155.8 Travel and state. Tourism The tourism–growth nexus within the subregional economic group comprising Brunei, Indonesia, Malaysia, and the Philippines has been virtually unexplored with respect to the exchange rate. The baseline hypotheses are growth-led tourism and tourism-led growth, whereby a model is conceptualized with respect to international prices and exchange rates. Data for the 2004–2018 period are analyzed using error corrections, causality, and panel cointegrating regressions with the consideration of cross-sectional dependence using state-of-the-art empirical methods. Significant findings, aided by a conducive exchange rate, favor the tourism-led growth hypothesis. The exchange rate is determined to be a crucial reason for divergence from and convergence toward the long-run equilibrium. The depreciation of the exchange rate appears to be the major factor supporting a sustainable tourism-led growth performance; hence, spillover effects are also expected to other countries in the Association of Southeast Asia Nations. Routledge 2021 Article PeerReviewed text en https://eprints.ums.edu.my/id/eprint/32583/1/Tourism%20development%20and%20economic%20growth%20in%20BIMP-EAGA_%20A%20conceptualization%20with%20panel%20data%20evidence%20_ABSTRACT.pdf Yong, Enn Lun (2021) Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence. Tourism Planning and Development. pp. 1-26. ISSN 2156-8316 https://www.tandfonline.com/doi/abs/10.1080/21568316.2021.2016930 https://doi.org/10.1080/21568316.2021.2016930 https://doi.org/10.1080/21568316.2021.2016930 |
| spellingShingle | G154.9-155.8 Travel and state. Tourism Yong, Enn Lun Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence |
| title | Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence |
| title_full | Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence |
| title_fullStr | Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence |
| title_full_unstemmed | Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence |
| title_short | Tourism development and economic growth in BIMP-EAGA: A conceptualization with panel data evidence |
| title_sort | tourism development and economic growth in bimp eaga a conceptualization with panel data evidence |
| topic | G154.9-155.8 Travel and state. Tourism |
| url | https://eprints.ums.edu.my/id/eprint/32583/1/Tourism%20development%20and%20economic%20growth%20in%20BIMP-EAGA_%20A%20conceptualization%20with%20panel%20data%20evidence%20_ABSTRACT.pdf |
| work_keys_str_mv | AT yongennlun tourismdevelopmentandeconomicgrowthinbimpeagaaconceptualizationwithpaneldataevidence |