The role of tourism in driving economic growth: An asymmetric augmented autoregressive distributed lag analysis of Singapore's experience

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dc.contributor.authorKarimi, Mohammad Sharif
dc.contributor.authorKaramelikli, Huseyin
dc.contributor.authorNaysary, Babak
dc.date.accessioned2024-09-29T15:50:44Z
dc.date.available2024-09-29T15:50:44Z
dc.date.issued2024
dc.departmentKarabük Üniversitesien_US
dc.description.abstractTourism has long been recognized as a potential force for economic growth in various parts of the globe. This study revisits this causal relationship to demonstrate the consequences of long-run and short-run effects between tourism development and economic growth in the context of Singapore for the period 1983:1 to 2020:4. We employ an augmented autoregressive distributed lag (AARDL) to prevent degenerative results and ensure the robustness of findings. We also control for variables such as foreign direct investment, net export, gross fixed capital formation, labor, and government expenditure. The overall empirical results provide support for the positive implications of tourism development for economic growth in Singapore in the long run, and its elasticity is 0.14 in increasing and 0.08 in decreasing. This implies that tourism can be one of the important factors for Singapore's economic growth in the long run, but in the short run, the impact is either negative or insignificant. This study provides important policy implications and recommendations.en_US
dc.description.sponsorshipMonash University; Wiley - Monash University agreement via the Council of Australian University Librariansen_US
dc.description.sponsorshipOpen access publishing facilitated by Monash University, as part of the Wiley - Monash University agreement via the Council of Australian University Librarians.en_US
dc.identifier.doi10.1002/jtr.2696
dc.identifier.issn1099-2340
dc.identifier.issn1522-1970
dc.identifier.issue4en_US
dc.identifier.scopus2-s2.0-85200046847en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.urihttps://doi.org/10.1002/jtr.2696
dc.identifier.urihttps://hdl.handle.net/20.500.14619/3713
dc.identifier.volume26en_US
dc.identifier.wosWOS:001280687800001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherWileyen_US
dc.relation.ispartofInternational Journal of Tourism Researchen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectAARDLen_US
dc.subjecteconomic growthen_US
dc.subjectSingaporeen_US
dc.subjecttourismen_US
dc.titleThe role of tourism in driving economic growth: An asymmetric augmented autoregressive distributed lag analysis of Singapore's experienceen_US
dc.typeArticleen_US

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