How to cite this paper
Wakimin, N., Azlinaa, A & Hazman, S. (2018). Tourism demand in Asean-5 countries: Evidence from panel data analysis.Management Science Letters , 8(6), 677-690.
Refrences
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Andriotis*, K. (2004). The perceived impact of tourism development by Cretan residents. Tourism and Hospitality Planning & Development, 1(2), 123-144.
Antonakakis, N., Dragouni, M., & Filis, G. (2015). How strong is the linkage between tourism and economic growth in Europe? Economic Modelling, 44, 142-155.
Association, P. A. T. (2015).
Authority, S. T. (2017). Tourism Development.
Baltagi, B. H., & Giles, M. D. (1998). Panel data methods. Statistics Textbooks and Monographs, 155, 291-324.
Bank, W. D. (2016). World Data Bank. Retrieved 10 May 2017
Bestard, A. B., & Nadal, J. R. (2007). Modelling environmental attitudes toward tourism. Tourism Management, 28(3), 688-695.
Bode, S., Hapke, J., & Zisler, S. (2003). Need and options for a regenerative energy supply in holiday facilities. Tourism Management, 24(3), 257-266.
Chaitip, P., Chaiboonsri, C., & Rangaswamy, N. (2008). A Panel Unit Root and Panel Cointegration Test of the Modeling International Tourism Demand in India. VOL. VIII PART I, 95.
Council, T. W. T. a. T. (2016).
Crouch, G. I. (1994). The study of international tourism demand: a review of findings. Journal of Travel Research, 33(1), 12-23.
Dollar, D., & Kraay, A. (2003). Institutions, trade, and growth. Journal of Monetary Economics, 50(1), 133-162.
Dritsakis, N. (2005). Tourism as a long-run economic growth factor: an empirical investigation for Greece using causality analysis. Tourism Economics, 10(3), 305-316.
Engle, R. F., & Granger, C. W. (1987). Co-integration and error correction: representation, estimation, and testing. Econometrica: Journal of the Econometric Society, 251-276.
Garcia, R. C., Contreras, J., Van Akkeren, M., & Garcia, J. B. C. (2005). A GARCH forecasting model to predict day-ahead electricity prices. IEEE transactions on power systems, 20(2), 867-874.
Garin-Munoz, T., & Amaral, T. P. (2000). An econometric model for international tourism flows to Spain. Applied Economics Letters, 7(8), 525-529.
Gu, H., & Ryan, C. (2008). Place attachment, identity and community impacts of tourism—the case of a Beijing hutong. Tourism Management, 29(4), 637-647.
Johansen, S., & Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration—with applications to the demand for money. Oxford Bulletin of Economics and statistics, 52(2), 169-210.
Kim, D.-H., Lin, S.-C., & Suen, Y.-B. (2010). Dynamic effects of trade openness on financial development. Economic Modelling, 27(1), 254-261.
Kosnan, S. S. A., Ismail, N. W., & Kaliappan, S. R. (2013). Determinants of International Tourism in Malaysia: Evidence from Gravity Model. Jurnal Ekonomi Malaysia, 47(1), 131-138.
Kusni, A., Kadir, N., & Nayan, S. (2013). International tourism demand in Malaysia by tourists from OECD countries: A panel data econometric analysis. Procedia Economics and Finance, 7, 28-34.
Lee, J. W., & Brahmasrene, T. (2013). Investigating the influence of tourism on economic growth and carbon emissions: Evidence from panel analysis of the European Union. Tourism Management, 38, 69-76.
Li, G. (2004). Tourism forecasting-an almost ideal demand system approach. Unpublished Ph. D. thesis, University of Surrey.
Li, G., Song, H., & Witt, S. F. (2005). Recent developments in econometric modeling and forecasting. Journal of Travel Research, 44(1), 82-99.
Lim, C. (1997). Review of international tourism demand models. Annals of Tourism Research, 24(4), 835-849.
López Bonilla, J. M. (2005). Efecto desestacionalizador del turismo rural en las regiones españolas. Boletín ICE económico(2860), 17-30.
McDowall, S., & Choi, Y. (2010). A comparative analysis of Thailand residents' perception of tourism's impacts. Journal of Quality Assurance in Hospitality & Tourism, 11(1), 36-55.
Mervar, A., & Payne, J. E. (2007). An analysis of foreign tourism demand for Croatian destinations: long-run elasticity estimates. Radni materijali Ekonomskog instituta, Zagreb(1), 5-21.
Narayan, P. K. (2004). Fiji's tourism demand: the ARDL approach to cointegration. Tourism Economics, 10(2), 193-206.
Nation, S. A. (2016). Tourism Development.
Nation, U. (2013). Tourism Development.
Neal, T. (2015). The unbiased estimation of heterogeneous coefficients in panel data models with common factors and feedback effects. Retrieved from
Norlida Hanim Mohd Salleh, R. O. (2011). Penentu Faktor Ekonomi dan Bukan Ekonomi Terhadap Permintaan Pelancongan ke Malaysia. Prosiding PERKEM 4(2), 444-458.
Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association, 94(446), 621-634.
Pesaran, M. H., & Smith, R. (1995). Estimating long-run relationships from dynamic heterogeneous panels. Journal of Econometrics, 68(1), 79-113.
Qureshi, M. I., Hassan, M. A., Hishan, S. S., Rasli, A. M., & Zaman, K. (2017). Dynamic linkages between sustainable tourism, energy, health and wealth: Evidence from top 80 international tourist destination cities in 37 countries. Journal of Cleaner Production, 158, 143-155.
Research, A. T. (2011). Economics and The Tourism Industry.
Research, A. T. (2016). Economics and The Tourism Industry.
Ridderstaat, J., Oduber, M., Croes, R., Nijkamp, P., & Martens, P. (2014). Impacts of seasonal patterns of climate on recurrent fluctuations in tourism demand: Evidence from Aruba. Tourism Management, 41, 245-256.
Schubert, S. F., Brida, J. G., & Risso, W. A. (2011). The impacts of international tourism demand on economic growth of small economies dependent on tourism. Tourism Management, 32(2), 377-385.
Seddighi, H. R., & Shearing, D. (1997). The demand for tourism in North East England with special reference to Northumbria: an empirical analysis. Tourism Management, 18(8), 499-511.
Shan, J., & Wilson, K. (2001). Causality between trade and tourism: empirical evidence from China. Applied Economics Letters, 8(4), 279-283.
Sisay, D. (2015). Alternative Estimations of Manufactured Exports : mean-group , pooled mean-group and GMM estimators. Denmarks Statistic, Modelgruppen, 15(1), 1-11.
Tang, C. F., & Tan, E. C. (2015). Does tourism effectively stimulate Malaysia's economic growth? Tourism Management, 46, 158-163.
TOH, R. S. K., Habibullah Goh, Lynette. (2006). Japanese demand for tourism in Singapore: A cointegration approach. Tourism Analysis, 10(4), 369-375.
Trebicky, V., & Cihar, M. (2006). Analysis of Nature-Based Tourism in the Sumava National Park, Czech Republic: 1997-2004. Exploring the Nature of Management, 233.
Witt, S. F., & Witt, C. A. (1995). Forecasting tourism demand: A review of empirical research. International Journal of Forecasting, 11(3), 447-475.
Wu, S.-T., & Chen, Y.-S. (2015). The social, economic, and environmental impacts of casino gambling on the residents of Macau and Singapore. Tourism Management, 48, 285-298.
Yang, Y., & Wong, K. K. (2013). Spatial distribution of tourist flows to China's cities. Tourism Geographies, 15(2), 338-363.
Andriotis*, K. (2004). The perceived impact of tourism development by Cretan residents. Tourism and Hospitality Planning & Development, 1(2), 123-144.
Antonakakis, N., Dragouni, M., & Filis, G. (2015). How strong is the linkage between tourism and economic growth in Europe? Economic Modelling, 44, 142-155.
Association, P. A. T. (2015).
Authority, S. T. (2017). Tourism Development.
Baltagi, B. H., & Giles, M. D. (1998). Panel data methods. Statistics Textbooks and Monographs, 155, 291-324.
Bank, W. D. (2016). World Data Bank. Retrieved 10 May 2017
Bestard, A. B., & Nadal, J. R. (2007). Modelling environmental attitudes toward tourism. Tourism Management, 28(3), 688-695.
Bode, S., Hapke, J., & Zisler, S. (2003). Need and options for a regenerative energy supply in holiday facilities. Tourism Management, 24(3), 257-266.
Chaitip, P., Chaiboonsri, C., & Rangaswamy, N. (2008). A Panel Unit Root and Panel Cointegration Test of the Modeling International Tourism Demand in India. VOL. VIII PART I, 95.
Council, T. W. T. a. T. (2016).
Crouch, G. I. (1994). The study of international tourism demand: a review of findings. Journal of Travel Research, 33(1), 12-23.
Dollar, D., & Kraay, A. (2003). Institutions, trade, and growth. Journal of Monetary Economics, 50(1), 133-162.
Dritsakis, N. (2005). Tourism as a long-run economic growth factor: an empirical investigation for Greece using causality analysis. Tourism Economics, 10(3), 305-316.
Engle, R. F., & Granger, C. W. (1987). Co-integration and error correction: representation, estimation, and testing. Econometrica: Journal of the Econometric Society, 251-276.
Garcia, R. C., Contreras, J., Van Akkeren, M., & Garcia, J. B. C. (2005). A GARCH forecasting model to predict day-ahead electricity prices. IEEE transactions on power systems, 20(2), 867-874.
Garin-Munoz, T., & Amaral, T. P. (2000). An econometric model for international tourism flows to Spain. Applied Economics Letters, 7(8), 525-529.
Gu, H., & Ryan, C. (2008). Place attachment, identity and community impacts of tourism—the case of a Beijing hutong. Tourism Management, 29(4), 637-647.
Johansen, S., & Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration—with applications to the demand for money. Oxford Bulletin of Economics and statistics, 52(2), 169-210.
Kim, D.-H., Lin, S.-C., & Suen, Y.-B. (2010). Dynamic effects of trade openness on financial development. Economic Modelling, 27(1), 254-261.
Kosnan, S. S. A., Ismail, N. W., & Kaliappan, S. R. (2013). Determinants of International Tourism in Malaysia: Evidence from Gravity Model. Jurnal Ekonomi Malaysia, 47(1), 131-138.
Kusni, A., Kadir, N., & Nayan, S. (2013). International tourism demand in Malaysia by tourists from OECD countries: A panel data econometric analysis. Procedia Economics and Finance, 7, 28-34.
Lee, J. W., & Brahmasrene, T. (2013). Investigating the influence of tourism on economic growth and carbon emissions: Evidence from panel analysis of the European Union. Tourism Management, 38, 69-76.
Li, G. (2004). Tourism forecasting-an almost ideal demand system approach. Unpublished Ph. D. thesis, University of Surrey.
Li, G., Song, H., & Witt, S. F. (2005). Recent developments in econometric modeling and forecasting. Journal of Travel Research, 44(1), 82-99.
Lim, C. (1997). Review of international tourism demand models. Annals of Tourism Research, 24(4), 835-849.
López Bonilla, J. M. (2005). Efecto desestacionalizador del turismo rural en las regiones españolas. Boletín ICE económico(2860), 17-30.
McDowall, S., & Choi, Y. (2010). A comparative analysis of Thailand residents' perception of tourism's impacts. Journal of Quality Assurance in Hospitality & Tourism, 11(1), 36-55.
Mervar, A., & Payne, J. E. (2007). An analysis of foreign tourism demand for Croatian destinations: long-run elasticity estimates. Radni materijali Ekonomskog instituta, Zagreb(1), 5-21.
Narayan, P. K. (2004). Fiji's tourism demand: the ARDL approach to cointegration. Tourism Economics, 10(2), 193-206.
Nation, S. A. (2016). Tourism Development.
Nation, U. (2013). Tourism Development.
Neal, T. (2015). The unbiased estimation of heterogeneous coefficients in panel data models with common factors and feedback effects. Retrieved from
Norlida Hanim Mohd Salleh, R. O. (2011). Penentu Faktor Ekonomi dan Bukan Ekonomi Terhadap Permintaan Pelancongan ke Malaysia. Prosiding PERKEM 4(2), 444-458.
Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association, 94(446), 621-634.
Pesaran, M. H., & Smith, R. (1995). Estimating long-run relationships from dynamic heterogeneous panels. Journal of Econometrics, 68(1), 79-113.
Qureshi, M. I., Hassan, M. A., Hishan, S. S., Rasli, A. M., & Zaman, K. (2017). Dynamic linkages between sustainable tourism, energy, health and wealth: Evidence from top 80 international tourist destination cities in 37 countries. Journal of Cleaner Production, 158, 143-155.
Research, A. T. (2011). Economics and The Tourism Industry.
Research, A. T. (2016). Economics and The Tourism Industry.
Ridderstaat, J., Oduber, M., Croes, R., Nijkamp, P., & Martens, P. (2014). Impacts of seasonal patterns of climate on recurrent fluctuations in tourism demand: Evidence from Aruba. Tourism Management, 41, 245-256.
Schubert, S. F., Brida, J. G., & Risso, W. A. (2011). The impacts of international tourism demand on economic growth of small economies dependent on tourism. Tourism Management, 32(2), 377-385.
Seddighi, H. R., & Shearing, D. (1997). The demand for tourism in North East England with special reference to Northumbria: an empirical analysis. Tourism Management, 18(8), 499-511.
Shan, J., & Wilson, K. (2001). Causality between trade and tourism: empirical evidence from China. Applied Economics Letters, 8(4), 279-283.
Sisay, D. (2015). Alternative Estimations of Manufactured Exports : mean-group , pooled mean-group and GMM estimators. Denmarks Statistic, Modelgruppen, 15(1), 1-11.
Tang, C. F., & Tan, E. C. (2015). Does tourism effectively stimulate Malaysia's economic growth? Tourism Management, 46, 158-163.
TOH, R. S. K., Habibullah Goh, Lynette. (2006). Japanese demand for tourism in Singapore: A cointegration approach. Tourism Analysis, 10(4), 369-375.
Trebicky, V., & Cihar, M. (2006). Analysis of Nature-Based Tourism in the Sumava National Park, Czech Republic: 1997-2004. Exploring the Nature of Management, 233.
Witt, S. F., & Witt, C. A. (1995). Forecasting tourism demand: A review of empirical research. International Journal of Forecasting, 11(3), 447-475.
Wu, S.-T., & Chen, Y.-S. (2015). The social, economic, and environmental impacts of casino gambling on the residents of Macau and Singapore. Tourism Management, 48, 285-298.
Yang, Y., & Wong, K. K. (2013). Spatial distribution of tourist flows to China's cities. Tourism Geographies, 15(2), 338-363.