Long-run Effect of the Global Financial Crisis on Singapore's Tourism and the Economy

This study employs recent Singaporean tourism survey data, the updated Singaporean input–output tables and a computable general equilibrium model to gauge the long‐run effects of the 2008 global financial crisis and selected policy responses. The simulation results suggest that the global financial...

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Bibliographic Details
Published in:Asian economic journal 2015-03, Vol.29 (1), p.41-60
Main Authors: Meng, Xianming, Chin, Anthony, Grant, Bligh
Format: Article
Language:English
Subjects:
computable general equilibrium modeling
D58
E37
E62
Economic crisis
Economic policy
financial crisis
International finance
policy response
Polls & surveys
Singaporean economy
Studies
Tourism
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Summary:This study employs recent Singaporean tourism survey data, the updated Singaporean input–output tables and a computable general equilibrium model to gauge the long‐run effects of the 2008 global financial crisis and selected policy responses. The simulation results suggest that the global financial crisis has had mild negative long‐run effects on the overall development of Singapore's economy, and that the GST deduction policy ought to offset this negative effect.
ISSN:1351-3958
1467-8381
DOI:10.1111/asej.12046