The Effects of Financial Crises on Tourism in the Greater Mekong Sub region Panel ARDL Approach

Sakkarin Nonthapot and Porowes Srichaiyo ()
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Porowes Srichaiyo: Indo China Country International Trade and Economic Research Sector Faculty of Integrated Social Sciences Khon Kaen University Nong Khai Campus Thailand, Postal: TH

Journal of Advanced Research in Management, 2017, vol. 8, issue 4, 853-860

Abstract: This study aims to investigate the effects of financial crises on tourism revenue in the Greater Mekong Sub region GMS for five countries Cambodia Thailand Myanmar Laos and Vietnam The financial crises include the 2003 financial crisis the Federal Reserve reducing the savings interest rate and the 2008 financial crisis the insolvency proceedings of the Lehman Brothers The panel dataset over the period of 1995 2015 is estimated using the Panel ARDL model with the Pool Mean Group PMG approach The study indicates that the financial crises in 2003 and 2008 decreased tourism revenue in the long run Therefore each GMS country should have tourism policies to handle financial crises and preventive measures to handle financial crises should be implemented in each country

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:srs:jemt00:v:8:y:2017:i:4:p:853-860

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