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Long‐run Effect of the Global Financial Crisis on S ingapore's Tourism and the Economy
Author(s) -
Meng Xianming,
Chin Anthony,
Grant Bligh
Publication year - 2015
Publication title -
asian economic journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.345
H-Index - 28
eISSN - 1467-8381
pISSN - 1351-3958
DOI - 10.1111/asej.12046
Subject(s) - tourism , economics , computable general equilibrium , financial crisis , offset (computer science) , real economy , short run , monetary economics , macroeconomics , economy , political science , computer science , law , programming language
This study employs recent S ingaporean tourism survey data, the updated S ingaporean 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 S ingapore's economy, and that the GST deduction policy ought to offset this negative effect.