Long-run effect of the global financial crisis on Singapore's Tourism and the economy
- Publication Type:
- Journal Article
- Asian Economic Journal, 2015, 29 (1), pp. 41 - 60
- Issue Date:
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© 2015 East Asian Economic Association and Wiley Publishing Pty Ltd. 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.
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