|
UPSI Digital Repository (UDRep)
|
|
|
|
||||||||||||||||||||||||||||
| Abstract : Perpustakaan Tuanku Bainun |
| This paper aims to study the impact of Middle East_s tourist arrival towards economic growth in Sarawak. Augmented Dicky-Fuller (ADF) is used to find the stationary of the variables. Besides that, Johansen Cointegration Test and VAR Granger Causality Test are used to address the objectives of study. The results revealed the existence of a short run relationship only between the variables of GDP, Middle East_s tourist arrivals, government expenditure and exchange rate in Sarawak. In addition, the VAR granger causality test indicated that GDP causes both GE and ER in the short run unidirectional respectively. However, the META granger cause the GDP and GE in unidirectional in the short run respectively.
Keywords Causality, cointegration, VAR |
| References |
Abounoori and Zobeiri, 2010. Exchange Rate Gap Effect on Economic Growth in Iran. International Review of Business Research Papers, 6 (6), 66–77.
Albala-Bertrand, J. M. and Mamatzakis, E. C., 2001. The Impact of Public Infrastructure on the Productivity of the Chilean Economy. Department of Economics, Queen Mary University of London, Working Paper, No. 2001/435.
Ashley, C., 2000. The Impacts of Tourism on Rural Livelihoods: Namiba’s Experience. London: Chameleon Press.
Bhatiah, A. K., 2001. Tourism Development: Principles and Practices. Sterling: New Delhi
Brida, J. G., Carerra, E. J. S. and Risso, W. A., 2008. Tourism’s Impact on Long-Run Mexican Economic Growth. Economics Bulletin, 3(21), 1–8.
Bohdanowicz, P., 2005. European Hoteliers’ Environmental Attitudes: Greening the Business. Cornell Hotel and Restaurant Administration Quarterly, 46(2), 188.
Bukart, A. J. and Medlik, S., 1987. Tourism: Past, Present and Future. Heinaman: London.
Calderon, C. and Serven, L., 2004. The Effects of Infrastructure Development on Growth and Income Distribution. Central Bank of Chile, Working Paper, No. 2004/7.
Charlot, S. and Schmitt, B., 1999. Public Infrastructure and Economic Growth in France’s Regions. Paper resented for ERSA 39th Congress, Dublin, Ireland.
Devarajan, S., Swaroop, V. and Zou, H. F., 1996. The Composition of Public Expenditure and Economic Growth. Journal of Monetary Economics, 37, 313–344.
Dristakis, N., 2004. Cointegration analysis of German and British tourism demand for Greece. Tourism Management, 25, 111–119.
Durbarry, N., 2004. Tourism and Economic Growth: The Case of Mauritius. Tourism Economics 10(4), 389-401.
Economagic.com. Series, 2012. Malaysia/U.S. Foreign Exchange Rate: Malaysian Ringgit to One US. Dollar. Retrieved November 18, 2012, from http://www. economagic.com.
Engle, R. F. and Granger, C. W. J., 1987. Cointegration and error correction: representation, estimation and testing. Econometrica, 55, 251–276.
Granger, C. W. J., 1986. Developments in the Study of Cointegrated Economic Variables. Oxford Bulletin of Economics and Statistics, 48, 213–228.
Honey M., 1999. Ecotourism and Sustainable Development: Who Owns Paradise?. Washington, DC: Island
Javed, Z. H. and Muhammad Farooq, 2009. Economic Growth and Exchange Rate Volatility in Case of Pakistan. Pakistan Journal of Life and Social Sciences, 7(2), 112– 118.
Johansen, S., 1988. Statistical Analysis of Cointegration Vectors. Journal of Economic Dynamics and Control, 12, 231–254.
Kasimati, E., 2011. Economic Impact of Tourism on Greece’s Economy: Cointegration and Causality Analysis. International Research Journal of Finance and Economics. 79,79–85.
King, V. T., 1988. Models and Realities: Malaysian National Planning and East Malaysian Development Problems. Modern Asian Studies, 22, 263–98.
Kreishan, F. M. M., 2010. Tourism and Economic Growth: The Case of Jordan. European Journal of Social Sciences, 15(2), 229–234.
Lau, E., Oh, S. L. and Hu. S. S., 2008. Tourist Arrivals and Economic Growth in Sarawak. Munich Personal RePEc Archive (MPRA) Paper, No. 9888.
Mackinnon, J. G., 1991. Critical Values for Cointegration Tests. In R.F. Engle and C. W. J. Granger (Eds.) Long Run Economic Relationship: Readings in Cointegration (pp. 267- 276). New Yorl: Oxford University Press.
Malik, S., Chaudry, I. S., Sheikh, M. R. and Farooqi, F. S., 2010. Tourism, Economic Growth and Current Account Deficit in Pakistan: Evidence from Co-integration and Causal Analysis. European Journal of Economics, Finance and Administrative Sciences, 22, 21–31.
McPherson, M. F. and Rakovski, T., 2000. Exchange Rates and Economic Growth in Kenya: An Econometric Analysis. United States Agency for International Development, Discussion Paper, No. 2000/56.
Mensah, I., 2006. Environmental Management Practices Among Hotels in the Great Accra Region, Hospitality Management, 25, 414–431
Ministry of Tourism (MOT) Sarawak, 2011. Retrieved November 10, 2012, from http:// www.mot.sarawak.gov.my/.
Olayinka, K., 2008. Tourism-Exports and Economic Growth in Africa. Paper presented for African Econometrics Society (AES) at Conference in Pertoria, South Africa.
Paudyal, S., 2012. Does Tourism Really Matter for Economic Growth? Evidence from Nepal. NRB Economic Review, 24(1), 48–66.
Pigram, J., 1995. Alternative Tourism: Tourism and Sustainable Resource Management. In Smith V. L. and William R. (eds.), Tourism Alternatives. (pp. 19).Wiley: London.
Pradhan, R. P. and Bagchi, T. P., 2012. Effect of Transportation Infrastructure on Economic Growth in India: TheVECM Approach. Journal Research in Transportation Economics, 221,1–10.
Said, S. E. and Dickey, D. A., 1984. Testing for Unit Root in Autoregressive Moving Average Models of Unknown Order. Biometrika, 71, 599–607.
Samimi, A. J., Sadeghi, S. and Sadeghi, S., 2011. Tourism and Economic Growth in Developing Countries. Middle-East Journal of Scientific Research, 10(1), 28–32.
Statistic Department of Sarawak, 2012. Annually Statistical Bulletin (various issues), Sarawak: Annual Book Report from 1970–2011. Statistic Department of Sarawak.
Sarawak Tourism Board, 2011. Retrieved November 10, 2012, from http://www. sarawaktourism.com/.
Scheyvens, R. and Momsen, J. H., 2008. Tourism and Poverty Reduction: Issues for Small Island States. Tourism Geographies, 10(1), 22–41
Tarawalie, A., 2010. Real Exchange Rate Behavior and Economic Growth: Evidence from Sierra Leone. South African Journal of Economic and Management Sciences, 13(1), 8–25
Tourism Malaysia, 2011. Retrieved November 10, 2012, from http://www.tourism.gov. my/.
Ugurlu, E., 2009. Real Exchange Rate and Economic Growth: Turkey. Paper presented at the Third IEU International Student Conference, Izmir, University of Economics.
Vanegas, M. and Croes, R., 2007. Tourism, Economic Expansion and Poverty in Nicaragua: Investigating Cointegration and Causal Relations. Paper presented at the Second International Conference on Tourism Economics, Palma de Mallorca, Spain.
World Tourism Council, 2009. Retrieved November 10, 2012, from http://www.wttc. org/.
World Trade Organization, 2010. About United Nation World Trade Organization.
|
| This material may be protected under Copyright Act which governs the making of photocopies or reproductions of copyrighted materials. You may use the digitized material for private study, scholarship, or research. |