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Research Note: Are Singapore's Tourism Markets Converging with Structural Breaks?

Author

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  • Siow-Hooi Tan

    (Faculty of Management, Multimedia University, Persiaran Multimedia, 63100 Cyberjaya, Selangor Darul Ehsan, Malaysia)

  • Siow-Kian Tan

    (Institute of Creative Industries Design, National Cheng Kung University, Taiwan)

Abstract

This research note tests whether or not Singapore's 15 major tourist source markets are converging. The study uses monthly data for the period January 1994 to June 2011, and the results are as follows: (a) univariate unit root tests without any structural breaks show that 13 out of the 15 tourist markets are diverging; (b) 80% of the tourism markets support the evidence for convergence when multiple structural breaks are incorporated; (c) the evidence of convergence is strongly supported under different panel settings, leading to the conclusion that policies to boost the total tourists arrivals in Singapore have been successful.

Suggested Citation

  • Siow-Hooi Tan & Siow-Kian Tan, 2013. "Research Note: Are Singapore's Tourism Markets Converging with Structural Breaks?," Tourism Economics, , vol. 19(1), pages 209-216, February.
    • Handle: RePEc:sae:toueco:v:19:y:2013:i:1:p:209-216
    DOI: 10.5367/te.2013.0193
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    References listed on IDEAS

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    1. Jushan Bai & Pierre Perron, 1998. "Estimating and Testing Linear Models with Multiple Structural Changes," Econometrica, Econometric Society, vol. 66(1), pages 47-78, January.
    2. Kwiatkowski, Denis & Phillips, Peter C. B. & Schmidt, Peter & Shin, Yongcheol, 1992. "Testing the null hypothesis of stationarity against the alternative of a unit root : How sure are we that economic time series have a unit root?," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 159-178.
    3. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
    4. Hooi Hooi Lean & Russell Smyth, 2008. "Are Malaysia's Tourism Markets Converging? Evidence from Univariate and Panel Unit Root Tests with Structural Breaks," Tourism Economics, , vol. 14(1), pages 97-112, March.
    5. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
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    Cited by:

    1. Sakiru Adebola Solarin, 2018. "Convergence hypothesis in tourism markets and activities in Taiwan," Tourism Economics, , vol. 24(8), pages 1037-1044, December.
    2. Stavros A Kourtzidis & Panayiotis Tzeremes & Nickolaos G Tzeremes & Tomáš Heryán, 2018. "Integration of tourism markets in Australia," Tourism Economics, , vol. 24(7), pages 901-907, November.
    3. Sakiru Adebola Solarin, 2014. "Revisiting the Convergence Hypothesis of Tourism Markets: Evidence from South Africa," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 8(1), pages 77-92, February.

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