Abstract
This paper empirically investigates the tourism-led growth (TLG) hypothesis in the case of Singapore by employing the bounds test for cointegration, error correction models and Granger causality tests using annual data from 1960 to 2007. The results confirm the existence of a long-term equilibrium relationship between international tourism and economic growth in the case of Singapore; real income growth converges significantly toward its long-term equilibrium level of 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.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callSimilar Papers
More From: Tourism Economics
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
