Public investment, private investment, governance and tourism growth in five South Asian Association for Regional Cooperation countries

The present research investigates the effects of public and private investment in Travel and Tourism (T&T), and their interaction effect on tourism growth in five South Asian Association for Regional Cooperation (SAARC) countries. It also examines the interaction effect of public and private in...

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Main Author:	Nawaz, Muhammad Atif
Format:	Thesis
Language:	eng eng
Published:	2018
Subjects:	HJ Public Finance
Online Access:	https://etd.uum.edu.my/7640/1/s96129_01.pdf https://etd.uum.edu.my/7640/2/s96129_02.pdf
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id	my-uum-etd.7640
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Hassan, Sallahuddin
topic	HJ Public Finance HJ Public Finance
spellingShingle	HJ Public Finance HJ Public Finance Nawaz, Muhammad Atif Public investment, private investment, governance and tourism growth in five South Asian Association for Regional Cooperation countries
description	The present research investigates the effects of public and private investment in Travel and Tourism (T&T), and their interaction effect on tourism growth in five South Asian Association for Regional Cooperation (SAARC) countries. It also examines the interaction effect of public and private investment with governance on tourism growth in the region. The panel data for the five SAARC countries, from 1996 to 2015, is analyzed using Fully Modified Ordinary Least Squares and Pooled Mean Group methods. The study findings reveal that public investment, private investments, and their interaction positively affect tourism growth. The interaction effects of governance with public and private investments produce mixed results for the three indicators of governance. The interaction of political stability and absence of violence with private investment shows positive effect, however, its interaction with public investment illustrates negative effect on tourism growth. In addition, the interaction effect of control of corruption and public investment on tourism growth is positive, while there is an evidence of negative effect of the interaction of control of corruption and private investment. Similarly, the interaction effect of rule of law and public investment on tourism growth is positive, whereas, it is negative in case of the interaction of rule of law and private investment. Therefore, it is recommended that public investment needs to be increased in T&T, in addition to ensure conducive environment for private sector participation in order to reap its full potential. The study also suggests improving the governance, as it enhances the efficiency and productivity of public and private investments in T&T.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Nawaz, Muhammad Atif
author_facet	Nawaz, Muhammad Atif
author_sort	Nawaz, Muhammad Atif
title	Public investment, private investment, governance and tourism growth in five South Asian Association for Regional Cooperation countries
title_short	Public investment, private investment, governance and tourism growth in five South Asian Association for Regional Cooperation countries
title_full	Public investment, private investment, governance and tourism growth in five South Asian Association for Regional Cooperation countries
title_fullStr	Public investment, private investment, governance and tourism growth in five South Asian Association for Regional Cooperation countries
title_full_unstemmed	Public investment, private investment, governance and tourism growth in five South Asian Association for Regional Cooperation countries
title_sort	public investment, private investment, governance and tourism growth in five south asian association for regional cooperation countries
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2018
url	https://etd.uum.edu.my/7640/1/s96129_01.pdf https://etd.uum.edu.my/7640/2/s96129_02.pdf
_version_	1747828247421255680
spelling	my-uum-etd.76402021-08-11T02:42:25Z Public investment, private investment, governance and tourism growth in five South Asian Association for Regional Cooperation countries 2018 Nawaz, Muhammad Atif Hassan, Sallahuddin School of Economics, Finance & Banking School of Economics, Finance & Banking HJ Public Finance TX901-946.5 Hospitality industry. Hotels, clubs, restaurants, etc. Food service The present research investigates the effects of public and private investment in Travel and Tourism (T&T), and their interaction effect on tourism growth in five South Asian Association for Regional Cooperation (SAARC) countries. It also examines the interaction effect of public and private investment with governance on tourism growth in the region. The panel data for the five SAARC countries, from 1996 to 2015, is analyzed using Fully Modified Ordinary Least Squares and Pooled Mean Group methods. The study findings reveal that public investment, private investments, and their interaction positively affect tourism growth. The interaction effects of governance with public and private investments produce mixed results for the three indicators of governance. The interaction of political stability and absence of violence with private investment shows positive effect, however, its interaction with public investment illustrates negative effect on tourism growth. In addition, the interaction effect of control of corruption and public investment on tourism growth is positive, while there is an evidence of negative effect of the interaction of control of corruption and private investment. Similarly, the interaction effect of rule of law and public investment on tourism growth is positive, whereas, it is negative in case of the interaction of rule of law and private investment. Therefore, it is recommended that public investment needs to be increased in T&T, in addition to ensure conducive environment for private sector participation in order to reap its full potential. The study also suggests improving the governance, as it enhances the efficiency and productivity of public and private investments in T&T. 2018 Thesis https://etd.uum.edu.my/7640/ https://etd.uum.edu.my/7640/1/s96129_01.pdf text eng public https://etd.uum.edu.my/7640/2/s96129_02.pdf text eng public http://sierra.uum.edu.my/record=b1698910~S1 Ph.D. doctoral Universiti Utara Malaysia Abd, A. A., & Furceri, D. (2016). The macroeconomic effects of public investment: Evidence from advanced economies. Journal of Macroeconomics, 50, 224-240. Abdullahi, M. M., Hassan, S. B., & Bakar, N. A. B. A. (2016). Analyzing the impact of external debt on capital formation in Nigeria: An autoregressive distributed lag approach. Mediterranean Journal of Social Sciences, 7(1), 173-183. Abramovitz, M. (1956). 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