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Exploring the role of technology, tourism and financial development: an empirical study of Vietnam

Kumar, Ronald R. (2014) Exploring the role of technology, tourism and financial development: an empirical study of Vietnam. Quality & Quantity, 48 (5). pp. 2881-2898. ISSN 0033-5177

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Abstract

Vietnam is one of the emerging and industrializing developing countries in East Asia that has experienced a growth in tourism, information and communications technology (ICT) and financial development over the last three decades largely supported by significant structural reforms to escalate its path towards modernization and industrialization by 2020. In this paper, we explore the short-run and long-run effects of tourism, ICT and financial development over the period 1980–2010. Further, we examine the causation between these contemporary drivers of growth. The results show tourism has a positive and statistically significant effect in the short-run whereas ICT and financial development have a momentous positive and significant effect in the long-run. The causality results show unidirectional causation from capital per worker, ICT and financial development to output per worker; from ICT and financial development to capital per worker; and from capital per worker to tourism. Further, we also note a bi-directional causation between tourism and output per worker indicating their mutually reinforcing effect in the economy.

Item Type: Journal Article
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
H Social Sciences > HJ Public Finance
T Technology > T Technology (General)
Divisions: Faculty of Business and Economics (FBE) > School of Accounting and Finance
Depositing User: Ronald Kumar
Date Deposited: 05 Aug 2014 12:47
Last Modified: 21 Sep 2016 16:31
URI: http://repository.usp.ac.fj/id/eprint/7557
UNSPECIFIED

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