Chow, Ming Yan
(2014)
Contribution Factors Of Tourism Industry Towards Gdp : A Study In Ten Asian Countries.
Masters thesis, Perpustakaan Hamzah Sendut.
Abstract
This study used secondary data to examine the direct and causal relationships
between factors of contribution (number of international tourist arrivals, capital
investment, government spending, international tourism receipts and foreign
exchange rate) and Gross Domestic Product (GDP) for panel data of ten Asian
countries over a period of 1993 - 2003 based on the growth theory (tourism-led
economic growth theory, economic-driven tourism growth theory and reciprocal
causal theory).A panel regression model with fixed effect model is performed to
investigate the direct relationship between factors of contribution and Gross
Domestic Product (GDP); the results showed capital investment, government
spending and international tourism receipts have positive effect on Gross Domestic
Product (GDP). A panel Granger causality test is carried out to examine the direction
of causal relationship between factors of contribution and Gross Domestic Product
(GOP); the results showed that the number of international tourist arrivals and
international tourism receipts have unidirectional causal related to Gross Domestic
Product (GDP); Gross Domestic Product (GDP) has unidirectional causal effect on
government spending; capital investment and foreign exchange rate have bidirectional
causal related to Gross Domestic Product (GDP) respectively.
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