Please use this identifier to cite or link to this item: https://hdl.handle.net/1959.11/6235
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dc.contributor.authorMeng, Xianmingen
dc.contributor.authorSiriwardana, Mahindaen
dc.contributor.authorDollery, Brian Een
dc.contributor.authorMounter, Stuarten
dc.date.accessioned2010-07-01T15:10:00Z
dc.date.issued2010en
dc.identifier.citationInternational Journal of Trade, Economics and Finance, 1(1), p. 46-53en
dc.identifier.issn2010-023Xen
dc.identifier.urihttps://hdl.handle.net/1959.11/6235en
dc.description.abstractMega events such as the World Financial Crisis in 2008 have tremendous negative economic effects, particularly on tourism. This study employs recent Singaporean tourism survey data, the updated Singaporean input-output tables, and a Computable General Equilibrium (CGE) model to gauge the negative effects of the 2008 World Financial Crisis on Singapore and to simulate the effects of selected policy responses. The CGE simulation results demonstrate that at the macro level, although almost all variables are negatively affected, exports benefit greatly. At the industry level, a negative tourism shock impacts severely on the tourism-related sectors, impacts only slightly on sectors weakly linked to tourism, but tourism-competing sectors expand. In commodity market, prices and outputs decrease for most products but real household consumption and exports increase. In the labor market, low skilled workers are harshly affected, but some occupational groups benefit at the expense of others. The simulation results also suggest that, in response to an event like the 2008 World Financial Crisis, a slightly decrease in the GST rate is more effective than a significant increase in the tourism tax rate.en
dc.languageenen
dc.publisherInternational Association of Computer Science and Information Technology Pressen
dc.relation.ispartofInternational Journal of Trade, Economics and Financeen
dc.titleThe Impact of the 2008 World Financial Crisis on Tourism and the Singapore Economy and Policy Responses: A CGE Analysisen
dc.typeJournal Articleen
dc.subject.keywordsApplied Economicsen
dc.subject.keywordsInternational Economics and International Financeen
dc.subject.keywordsTourism Economicsen
local.contributor.firstnameXianmingen
local.contributor.firstnameMahindaen
local.contributor.firstnameBrian Een
local.contributor.firstnameStuarten
local.subject.for2008140216 Tourism Economicsen
local.subject.for2008140299 Applied Economics not elsewhere classifieden
local.subject.for2008140210 International Economics and International Financeen
local.subject.seo2008910399 International Trade not elsewhere classifieden
local.subject.seo2008919999 Economic Framework not elsewhere classifieden
local.profile.schoolUNE Business Schoolen
local.profile.schoolUNE Business Schoolen
local.profile.schoolUNE Business Schoolen
local.profile.schoolUNE Business Schoolen
local.profile.emailxmeng4@une.edu.auen
local.profile.emailasiriwar@une.edu.auen
local.profile.emailbdollery@une.edu.auen
local.profile.emailsmounte2@une.edu.auen
local.output.categoryC1en
local.record.placeauen
local.record.institutionUniversity of New Englanden
local.identifier.epublicationsrecordune-20100621-10551en
local.publisher.placeSingaporeen
local.format.startpage46en
local.format.endpage53en
local.peerreviewedYesen
local.identifier.volume1en
local.identifier.issue1en
local.title.subtitleA CGE Analysisen
local.contributor.lastnameMengen
local.contributor.lastnameSiriwardanaen
local.contributor.lastnameDolleryen
local.contributor.lastnameMounteren
dc.identifier.staffune-id:xmeng4en
dc.identifier.staffune-id:asiriwaren
dc.identifier.staffune-id:bdolleryen
dc.identifier.staffune-id:smounte2en
local.profile.orcid0000-0002-3329-5277en
local.profile.orcid0000-0001-6637-3756en
local.profile.roleauthoren
local.profile.roleauthoren
local.profile.roleauthoren
local.profile.roleauthoren
local.identifier.unepublicationidune:6392en
dc.identifier.academiclevelAcademicen
dc.identifier.academiclevelAcademicen
dc.identifier.academiclevelAcademicen
dc.identifier.academiclevelAcademicen
local.title.maintitleThe Impact of the 2008 World Financial Crisis on Tourism and the Singapore Economy and Policy Responsesen
local.output.categorydescriptionC1 Refereed Article in a Scholarly Journalen
local.relation.urlhttp://www.ijtef.org/papers/9-C146.pdfen
local.relation.urlhttp://www.ijtef.org/vol1no1.htmen
local.description.statisticsepubsVisitors: 329<br />Views: 432<br />Downloads: 0en
local.search.authorMeng, Xianmingen
local.search.authorSiriwardana, Mahindaen
local.search.authorDollery, Brian Een
local.search.authorMounter, Stuarten
local.uneassociationUnknownen
local.year.published2010en
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UNE Business School
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