Long-run effect of the global financial crisis on Singapore's Tourism and the economy

Abstract

© 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