Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship
Economic growth plays an important role in any country as it leads to increase in standard of living, income per capital, business opportunities, employment level, economic stability, etc. With the great outburst of world tourism in recent years, it is now one of the largest and fastest growing indu...
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| Format: | Article |
| Language: | English |
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Universiti Putra Malaysia
2013
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| Online Access: | https://repo.uum.edu.my/id/eprint/19153/1/IJEM%207%201%202013%2067-83.pdf |
| _version_ | 1803627672634392576 |
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| author | Cheam, Chai Li Mahmood, Rosli Abdullah, Hussin |
| author_facet | Cheam, Chai Li Mahmood, Rosli Abdullah, Hussin |
| author_sort | Cheam, Chai Li |
| collection | UUM |
| description | Economic growth plays an important role in any country as it leads to increase in standard of living, income per capital, business opportunities, employment level, economic stability, etc. With the great outburst of world tourism in recent years, it is now one of the largest and fastest growing industries in the world which is a potential factor for economic growth.Nevertheless, the yields from this economic
activity are different across geographical regions.Since tourism in Malaysia has become the second largest income contributor of foreign
exchange after manufacturing, this study attempts to determine whether tourism (in terms of tourism receipts and government tourism expenditure) is crucial for enhancing economic growth in Malaysia
from 1974-2010, given production function framework and exports are the control variables. The empirical analysis will be based on Johansen
Co integration for long run relationship and Error Correction Model (ECM) for short run dynamic. Results of long run relationship show all the variables are statistically significant and positively related to economic growth except exports and government tourism expenditure.
Error correction model (ECM) for short run dynamic reveals only tourism receipts and government tourism expenditure are significant and positively related to economic growth. |
| first_indexed | 2024-07-04T06:09:47Z |
| format | Article |
| id | uum-19153 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:09:47Z |
| publishDate | 2013 |
| publisher | Universiti Putra Malaysia |
| record_format | dspace |
| spelling | uum-191532016-11-10T04:49:41Z https://repo.uum.edu.my/id/eprint/19153/ Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship Cheam, Chai Li Mahmood, Rosli Abdullah, Hussin HC Economic History and Conditions Economic growth plays an important role in any country as it leads to increase in standard of living, income per capital, business opportunities, employment level, economic stability, etc. With the great outburst of world tourism in recent years, it is now one of the largest and fastest growing industries in the world which is a potential factor for economic growth.Nevertheless, the yields from this economic activity are different across geographical regions.Since tourism in Malaysia has become the second largest income contributor of foreign exchange after manufacturing, this study attempts to determine whether tourism (in terms of tourism receipts and government tourism expenditure) is crucial for enhancing economic growth in Malaysia from 1974-2010, given production function framework and exports are the control variables. The empirical analysis will be based on Johansen Co integration for long run relationship and Error Correction Model (ECM) for short run dynamic. Results of long run relationship show all the variables are statistically significant and positively related to economic growth except exports and government tourism expenditure. Error correction model (ECM) for short run dynamic reveals only tourism receipts and government tourism expenditure are significant and positively related to economic growth. Universiti Putra Malaysia 2013 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/19153/1/IJEM%207%201%202013%2067-83.pdf Cheam, Chai Li and Mahmood, Rosli and Abdullah, Hussin (2013) Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship. International Journal of Economics and Management, 7 (1). pp. 67-83. ISSN 1823 - 836X http://econ.upm.edu.my/ijem/vol7no1/bab05.pdf |
| spellingShingle | HC Economic History and Conditions Cheam, Chai Li Mahmood, Rosli Abdullah, Hussin Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship |
| title | Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship |
| title_full | Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship |
| title_fullStr | Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship |
| title_full_unstemmed | Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship |
| title_short | Tourism, selected macroeconomics variables and economic growth: An econometrics of long run and short run relationship |
| title_sort | tourism selected macroeconomics variables and economic growth an econometrics of long run and short run relationship |
| topic | HC Economic History and Conditions |
| url | https://repo.uum.edu.my/id/eprint/19153/1/IJEM%207%201%202013%2067-83.pdf |
| work_keys_str_mv | AT cheamchaili tourismselectedmacroeconomicsvariablesandeconomicgrowthaneconometricsoflongrunandshortrunrelationship AT mahmoodrosli tourismselectedmacroeconomicsvariablesandeconomicgrowthaneconometricsoflongrunandshortrunrelationship AT abdullahhussin tourismselectedmacroeconomicsvariablesandeconomicgrowthaneconometricsoflongrunandshortrunrelationship |