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Title: A Computable General Equilibrium Analysis of Potential Policy Responses to a Negative Tourism Demand Shock in Singapore
Contributor(s): Meng, Xianming (author)orcid ; Siriwardana, Mahinda (author); Dollery, Brian E (author)
Publication Date: 2011
DOI: 10.3727/108354211X13110944387284
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Abstract: The 2008 global financial crisis had strong negative economic effects, particularly on tourism. Determining appropriate policy responses to mitigate these negative effects is thus important. Accordingly, this study employs recent Singaporean tourism survey data, updated Singaporean input-output tables, and a Computable General Equilibrium (CGE) model to gauge the short-run negative impact of the 2008 global financial crisis on the Singaporean tourist sector and to simulate the effects of selected three policy responses. Our simulation results suggest that the GST deduction policy is more effective than an industrial subsidy policy. However, if the latter is used by government, then a tourism-focused subsidy policy is recommended since it is much more effective than the economy-wide industrial subsidy in terms of both tourism and the aggregate economy.
Publication Type: Journal Article
Source of Publication: Tourism Analysis, 16(3), p. 343-359
Publisher: Cognizant Communication Corp
Place of Publication: United States of America
ISSN: 1083-5423
Field of Research (FOR): 150601 Impacts of Tourism
Peer Reviewed: Yes
HERDC Category Description: C1 Refereed Article in a Scholarly Journal
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Appears in Collections:Journal Article
UNE Business School

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