Tourism and economic growth: Evidence from ASEAN-5 using granger causality test
Date of Publication
2014
Document Type
Bachelor's Thesis
Degree Name
Bachelor of Science in Applied Economics
Subject Categories
Economics
College
Ramon V. Del Rosario College of Business
Department/Unit
Economics
Defense Panel Member
Myrna Austria
Abstract/Summary
Promoting tourism has always been regarded as an important tool in enhancing economic growth with its capacity to increase GDP in the host country. In recent years, many studies have found that long-run causality between tourism and economic growth varies across different countries, whether there is a unidirectional, bidirectional, or no causality in the relationship. Using annual panel data from the year 1995-2011, we conducted Panel Granger analysis, which includes the panel unit root tests, panel cointegration tests, and panel Granger causality to answer our objectives. Our study estimates if there exists a long-run unidirectional, bidirectional, or no causal relationship between tourism activities and economic growth in ASEAN-5 countries. Our empirical findings support both the tourism-led growth hypothesis and the growth-led tourism hypothesis, which means there exists bidirectional causal relationship in ASEAN-5 countries. This signifies that further efforts to strengthen tourism should be pushed. Furthermore, we suggest that the current strategy of the ASEAN Economic Community (AEC) on the tourism sector is successful and can provide a lot more opportunities in the future.
Abstract Format
html
Language
English
Format
Accession Number
TU20040
Shelf Location
Archives, The Learning Commons, 12F, Henry Sy Sr. Hall
Physical Description
103 leaves ; 28 cm.
Keywords
Tourism--Asia; Economic development--Asia
Recommended Citation
Chua, J. G., Dee, T. C., Tiu, J. J., & Yulo, K. L. (2014). Tourism and economic growth: Evidence from ASEAN-5 using granger causality test. Retrieved from https://animorepository.dlsu.edu.ph/etd_bachelors/11295