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Macroeconomic Shocks and Malaysian Tourism Industry: Evidence from a Structural VAR Model

Author

Listed:
  • Ghulam Ali

    (Department of Commerce, University of Gujrat, Gujrat, Pakistan.)

  • Khalid Zaman

    (Department of Economics, University of Wah, Quaid Avenue, Wah Cantt, Pakistan.)

  • Talat Islam

    (Institute of Business Administration, University of the Punjab, Lahore, Pakistan.)

Abstract

his study employs a structural vector autoregression (SVAR) model to investigate the macroeconomic shocks on Malaysian tourism industry, especially how the economy dynamically responds to oil price shocks, exchange rates, changes in price level, exports, economic growth and tourism income during the study time period from January 2001 to December 2012. The results indicate that oil price shocks, economic growth, exchange rate, and exports have a contemporaneous inverse impact on tourism revenues except for consumer price index which has a positive impact. This study added instant information to manage tourism industry in Malaysia. The findings of the study are useful to implement a number of corrective measures for the promotion of tourism in a country.

Suggested Citation

  • Ghulam Ali & Khalid Zaman & Talat Islam, 2018. "Macroeconomic Shocks and Malaysian Tourism Industry: Evidence from a Structural VAR Model," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 22(4), pages 1113-1137, Autumn.
    • Handle: RePEc:eut:journl:v:22:y:2018:i:4:p:1113
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    Citations

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    Cited by:

    1. Muhammad Khalid Anser & Zahid Yousaf & Usama Awan & Abdelmohsen A. Nassani & Muhammad Moinuddin Qazi Abro & Khalid Zaman, 2020. "Identifying the Carbon Emissions Damage to International Tourism: Turn a Blind Eye," Sustainability, MDPI, vol. 12(5), pages 1-20, March.
    2. Adedeji, Abdulkabir N. & Ahmed, Funmilola F. & Adam, Shehu U., 2021. "Examining the dynamic effect of COVID-19 pandemic on dwindling oil prices using structural vector autoregressive model," Energy, Elsevier, vol. 230(C).
    3. Khavari, Saeed Dehghan & Mirjalili, Seyed Hossein & Derakhsh, Saeedeh, 2021. "Dynamics of Tourism and Economic Growth in the Oil-Exporting Economies: A Tri-Variate Causality," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 51(1), pages 73-86.
    4. Dahmani Mohamed Driouche & Attouchi Manel & Chenini Moussa & Benbouziane Mohamed, 2020. "Asymmetric Responses of Oil Price Shocks on Economic Growth in Algeria: An Empirical Analysis through NARDL Approach," Energy Economics Letters, Asian Economic and Social Society, vol. 7(2), pages 74-93, December.

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