552
Views
12
CrossRef citations to date
0
Altmetric
Articles

Comparing the contributions of tourism and non-tourism exports to economic growth in Malaysia

ORCID Icon, &
Pages 1232-1245 | Received 01 Dec 2014, Accepted 27 May 2015, Published online: 30 Jun 2015

References

  • Ahmad, J., & Harnhirun, S. (1995). Unit roots and cointegration in estimating causality between exports and economic growth: Empirical evidence from the ASEAN countries. Economics Letters, 49(3), 329–334. doi: 10.1016/0165-1765(95)00678-9
  • Al-Yousif, Y. K. (1999). On the role exports in the economic growth in Malaysia: A multivariate analysis. International Economic Journal, 13(3), 67–75.
  • Baharumshah, A. Z., & Rashid, S. (1999). Exports, imports and economic growth in Malaysia: Empirical evidence based on multivariate time series. Asian Economic Journal, 13(4), 389–406. doi: 10.1111/1467-8381.00092
  • Bahmani-Oskooee, M., & Alse, J. (1993). Export growth and economic growth: An application of cointegration and error-correction modeling. Journal of Developing Areas, 27(4), 535–542.
  • Balaguer, J., & Cantavella-Jorda, M. (2002). Tourism as a long run economic growth factor: The Spanish case. Applied Economics, 34(7), 877–884. doi: 10.1080/00036840110058923
  • Balassa, B. (1978). Export and economic growth: Further evidence. Journal of Development Economics, 5(2), 181–189. doi: 10.1016/0304-3878(78)90006-8
  • Brida, J. G., Cortes-Jimenez, I., & Pulina, M. (2014). Has the tourism-led growth hypothesis been validated? A literature review. Current Issues in Tourism. doi:10.1080/13683500.2013.868414
  • Castro-Nuño, M., Molina-Toucedo, J. A., & Pablo-Romero, M. P. (2013). Tourism and GDP: A meta-analysis of panel data studies. Journal of Travel Research, 52(6), 745–758. doi: 10.1177/0047287513478500
  • Cheam, C. L., Mahmood, R., Abdullah, H., & Ong, S. C. (2013). Economic growth, tourism and selected macroeconomic variables: A triangular causal relationship in Malaysia. Margin: The Journal of Applied Economic Research, 7(2), 185–206. doi: 10.1177/0973801013483503
  • Choong, C. K., Yusop, Z., & Liew, K. S. (2005). Export-led growth hypothesis in Malaysia: An investigation using bounds test. Sunway Academic Journal, 2, 13–22.
  • Cortes-Jimenez, I., & Pulina, M. (2010). Inbound tourism and long-run economic growth. Current Issues in Tourism, 13(1), 61–74. doi: 10.1080/13683500802684411
  • Dolado, J. J., & Lütkepohl, H. (1996). Making Wald tests for cointegrated VAR systems. Econometric Reviews, 15(4), 369–386. doi: 10.1080/07474939608800362
  • Doraisami, A. (1996). Export growth and economic growth: A re-examination of some time series evidence of the Malaysian experience. Journal of Developing Areas, 30(2), 223–230.
  • Dritsakis, N. (2004). Tourism as a long run economic growth factor: An empirical investigation for Greece using causality analysis. Tourism Economics, 10(3), 305–316. doi: 10.5367/0000000041895094
  • Durbarry, R. (2004). Tourism and economic growth: The case of Mauritius. Tourism Economics, 10(4), 389–401. doi: 10.5367/0000000042430962
  • Feder, G. (1983). On exports and economic growth. Journal of Development Economics, 12(1–2), 59–73. doi: 10.1016/0304-3878(83)90031-7
  • Ghatak, S., Milner, C., & Utkulu, U. (1997). Exports, export composition and growth: Cointegration and causality evidence for Malaysia. Applied Economics, 29(2), 213–223. doi: 10.1080/000368497327272
  • Ghosh, S. (2011). Examining tourism-led growth hypothesis for India. International Journal of Culture and Business Management, 4(3), 347–355.
  • Giles, J. A., & Williams, C. L. (2000a). Export-led growth: A survey of the empirical literature and some non-causality results. Part 1. Journal of International Trade and Economic Development, 9(3), 261–337. doi: 10.1080/09638190050086177
  • Giles, J. A., & Williams, C. L. (2000b). Export-led growth: A survey of the empirical literature and some non-causality results. Part 2. Journal of International Trade and Economic Development, 9(4), 445–470. doi: 10.1080/096381900750056867
  • Gregory, A. W., & Hansen, B. (1996). Residual-based tests for cointegration in models with regime shifts. Journal of Econometrics, 70(1), 99–126. doi: 10.1016/0304-4076(69)41685-7
  • Grossman, G. M., & Helpman, E. (1991). Innovation and growth in the global economy. Cambridge, MA: MIT Press.
  • Gunduz, L., & Hatemi, J. A. (2005). Is the tourism led growth hypothesis valid for Turkey? Applied Economics Letters, 12(8), 499–504. doi: 10.1080/13504850500109865
  • Hansen, P. (1994). The government, exporters and economic growth in New Zealand. New Zealand Economic Papers, 28(2), 133–142. doi: 10.1080/00779959409544221
  • Hye, Q. M. A., & Khan, R. E. A. (2013). Tourism-led growth hypothesis: A case study of Pakistan. Asia Pacific Journal of Tourism Research, 18(4), 303–313. doi: 10.1080/10941665.2012.658412
  • Ibrahim, M. H. (2002). An empirical note on the export-led growth hypothesis: The case of Malaysia. Economic Analysis and Policy, 32(2), 221–232. doi: 10.1016/S0313-5926(02)50030-8
  • Islam, M. N. (1998). Export expansion and economic growth: Testing for cointegration and causality. Applied Economics, 30(3), 415–425. doi: 10.1080/000368498325930
  • Johansen, S., Mosconi, R., & Nielsen, B. (2000). Cointegration analysis in the presence of structural breaks in the deterministic trend. The Econometrics Journal, 3(2), 216–249. doi: 10.1111/1368-423X.00047
  • Kadir, N., & Karim, Z. A. (2012). Tourism and economic growth in Malaysia: Evidence from tourist arrivals from ASEAN-5 countries. Ekonomska Istrazivanja-Economic Research, 25(4), 1089–1100. doi: 10.1080/1331677X.2012.11517550
  • Kadir, N., Nayan, S., & Abdullah, M.S. (2010). The causal relationship between tourism and economic growth in Malaysia: Evidence from multivariate causality tests. Tourism & Management Studies, 6, 16–24.
  • Katircioglu, S. T. (2009). Revisiting the tourism-led growth hypothesis for Turkey using the bounds test and Johansen approach for cointegration. Tourism Management, 30(1), 17–20. doi: 10.1016/j.tourman.2008.04.004
  • Katircioğlu, S. T. (2010). International tourism, higher education and economic growth: The case of North Cyprus. The World Economy, 33(12), 1955–1972. doi: 10.1111/j.1467-9701.2010.01304.x
  • Khadaroo, A. J., & Seetanah, B. (2007). Does transport infrastructure matter in overall tourism development? Evidence from a sample of island economies. Tourism Economics, 13(4), 675–684. doi: 10.5367/000000007782696069
  • Khalafalla, K. Y., & Webb, A. J. (2001). Export-led growth and structural change: Evidence from Malaysia. Applied Economics, 33(13), 1703–1715. doi: 10.1080/00036840010015066
  • Kim, H. J., Chen, M. H., & Jang, S. C. (2006). Tourism expansion and economic development: The case of Taiwan. Tourism Management, 27(5), 925–933. doi: 10.1016/j.tourman.2005.05.011
  • Kumar, R. R., & Kumar, R. (2012). Exploring the nexus between information and communications technology, tourism and growth in Fiji. Tourism Economics, 18(2), 359–371. doi: 10.5367/te.2012.0117
  • Kumar, R. R., Loganathan, N., Patel, A., & Kumar, R. D. (2014). Nexus between tourism earning and economic growth: A study of Malaysia. Quality and Quantity. doi:10.1007/s11135-014-0037-4
  • Lau, P. H., Oh, S. L., & Hu, S. S. (2009). Tourist arrivals and economic growth in Sarawak. Sarawak Development Journal, 9, 36–45.
  • Lean, H. H., & Tang, C. F. (2010). Is the tourism-led growth hypothesis stable for Malaysia? A note. International Journal of Tourism Research, 12(4), 375–378. doi: 10.1002/jtr.759
  • Leow, G. Y. (2004). A reexamination of the role of exports in Malaysia's economic growth: After Asian financial crisis, 1970–2000. International Journal of Management Studies, 11(Special Issue), 79–104.
  • Lumsdaine, R. L., & Papell, D. H. (1997). Multiple trend breaks and the unit-root hypothesis. Review of Economics and Statistics, 79(2), 212–218. doi: 10.1162/003465397556791
  • Mahadevan, R. (2007). New evidence on the export-led growth nexus: A case study of Malaysia. The World Economy, 30(7), 1069–1083. doi: 10.1111/j.1467-9701.2007.01030.x
  • McKinnon, R. (1964). Foreign exchange constraint in economic development and efficient aid allocation. The Economic Journal, 74(294), 388–409. doi: 10.2307/2228486
  • Modeste, N. C. (1995). The impact of growth in the tourism sector on economic development: The experience of selected Caribbean countries. Economia Internazionale, 48(3), 375–384.
  • Nanthakumar, L., Ibrahim, Y., & Harun, M. (2008). Tourism development policy, strategic alliances and impact of consumer price index on tourist arrivals: The case of Malaysia. TOURISMOS: An International Multidisciplinary Journal of Tourism, 3(1), 83–98.
  • Narayan, P. K., & Prasad, B. C. (2003). Does tourism Granger causes economic growth in Fiji? Empirical Economics Letters, 2(5), 199–208.
  • Oh, C. O. (2005). The contribution of tourism development to economic growth in the Korean economy. Tourism Management, 26(1), 39–44. doi: 10.1016/j.tourman.2003.09.014
  • Pablo-Romero, M. P., & Molina, J. A. (2013). Tourism and economic growth: A review of empirical literature. Tourism Management Perspectives, 8, 28–41. doi: 10.1016/j.tmp.2013.05.006
  • Park, J. (1992). Canonical cointegrating regressions. Econometrica, 60(1), 119–143. doi: 10.2307/2951679
  • Perman, R. (1991). Cointegration: An introduction to the literature. Journal of Economic Studies, 18(3), 3–30. doi: 10.1108/EUM0000000000151
  • Perron, P. (1989). The great crash, the oil price shock, and the unit root hypothesis. Econometrica, 57(6), 1361–1401. doi: 10.2307/1913712
  • Phillips, P. C. B., & Hansen, B. (1990). Statistical inference in instrumental variables regression with I(1) processes. Review of Economic Studies, 57(1), 99–125. doi: 10.2307/2297545
  • Schwab, K., & Sala-i-Martin, X. (2012). The global competitiveness report 2012–2013: Full data edition. Gevena: World Economic Forum.
  • Seetanah, B. (2011). Assessing the dynamic economic impact of tourism for Island economies. Annals of Tourism Research, 38(1), 291–308. doi: 10.1016/j.annals.2010.08.009
  • Sharma, A., & Panagiotidis, T. (2005). An analysis of exports and growth in India: Cointegration and causality evidence (1971–2001). Review of Development Economics, 9(2), 232–248. doi: 10.1111/j.1467-9361.2005.00273.x
  • Tang, C. F. (2008). A re-examination of the role of foreign direct investment and exports in Malaysia's economic growth: A time-series analysis, 1970–2006. International Journal of Management Studies, 15(Bumper Issue), 47–67.
  • Tang, C. F. (2011). Is the tourism-led growth hypothesis valid for Malaysia? A view from disaggregated tourism markets. International Journal of Tourism Research, 13(1), 97–101. doi: 10.1002/jtr.807
  • Tang, C. F. (2013a). A revisitation of the export-led growth hypothesis in Malaysia using the leveraged bootstrap simulation and rolling causality techniques. Journal of Applied Statistics, 40(11), 2332–2340. doi: 10.1080/02664763.2013.810195
  • Tang, C. F. (2013b). Temporal Granger causality and the dynamic relationship between real tourism receipts, real income and real exchange rates in Malaysia. International Journal of Tourism Research, 15(3), 272–284. doi: 10.1002/jtr.1869
  • Tang, C. F., & Abosedra, S. (2014). Small sample evidence on the tourism-led growth hypothesis in Lebanon. Current Issues in Tourism, 17(3), 234–246. doi: 10.1080/13683500.2012.732044
  • Tang, C. F., Lai, Y. W., & Ilhan, O. (2015). How stable is the export-led growth hypothesis? Evidence from Asia's Four Little Dragons. Economic Modelling, 44, 229–235. doi: 10.1016/j.econmod.2014.09.022
  • Tang, C. F., & Lean, H. H. (2013). The role of savings on economic growth in Malaysia: A view from generalized variance decomposition analysis. Economic Computation and Economic Cybernetics Studies and Research, 47(3), 199–214.
  • Tang, C. F., & Tan, E. C. (2013). How stable is the tourism-led growth hypothesis in Malaysia? A view from disaggregated tourism markets. Tourism Management, 37, 52–57. doi: 10.1016/j.tourman.2012.12.014
  • Tang, C. F., & Tan, E. C. (2015a). Does tourism effectively stimulate Malaysia's economic growth? Tourism Management, 46, 158–163. doi: 10.1016/j.tourman.2014.06.020
  • Tang, C. F., & Tan, E. C. (2015b). Tourism-led growth hypothesis in Malaysia: Evidence based upon regime shift cointegration and time-varying Granger causality techniques. Asia Pacific Journal of Tourism Research. doi:10.1080/10941665.2014.998247
  • Thirlwall, A. P. (1979). The balance of payments constraints as an explanation of international growth rate differences. Banca Nazionale del Lavoro Quarterly Review, 32(128), 45–53.
  • Toda, H. Y., & Yamamoto, T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66(1–2), 225–250. doi: 10.1016/0304-4076(94)01616-8
  • Zivot, E., & Andrews, D. W. K. (1992). Further evidence of the great crash, the oil price shock and the unit-root hypothesis. Journal of Business and Economic Statistics, 10(3), 251–270.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.