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Hanafiah Harvey, Fumitaka Furuoka and Qaiser Munir
''The role of tourism and exchange rate on economic growth:Evidence from the BIMP-EAGA countries''
( 2013, Vol. 33 No.4 )
Developing economies as well as developed economies recognized appropriate tourism policies will be an important factor in promoting economic growth. BIMP-EAGA (Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area) was conceived with the objective to speed up economic development among the four countries and one of which is focused on tourism. Focusing on annual data, this paper utilized the bounds testing approach to cointegration and error-correction modeling to evaluate if tourism and exchange rates promote economic growth in BIMP-EAGA. The results revealed that Philippines is the only country that has a positive short and long impact from tourism's industry and exchange rates.
Keywords: Tourism, Economic Growth, BIMP-EAGA, ARDL, Exchange Rate
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
F3 - International Finance: General
Manuscript Received : Jun 12 2013 Manuscript Accepted : Oct 24 2013

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