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Economies, Volume 4, Issue 1 (March 2016) – 4 articles

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Open AccessArticle
Does Trust Matter for Entrepreneurship: Evidence from a Cross-Section of Countries
Economies 2016, 4(1), 4; https://doi.org/10.3390/economies4010004 - 04 Mar 2016
Cited by 8 | Viewed by 3154
Abstract
Differences in trust levels between countries explain the observed discrepancies in entrepreneurial spirit amongst them. We test this hypothesis with a cross-section of 60 countries in 2010. Our findings suggest that about half of the variation in entrepreneurial spirit across countries in the [...] Read more.
Differences in trust levels between countries explain the observed discrepancies in entrepreneurial spirit amongst them. We test this hypothesis with a cross-section of 60 countries in 2010. Our findings suggest that about half of the variation in entrepreneurial spirit across countries in the world is driven by trust considerations. This result is robust to regional clustering, outliers and alternative conditioning variables. The findings of the study indicate that while formal incentives to nurture entrepreneurship must be maintained, policy makers should also seek to pay attention to the role of trust cultivated through informal networks. Full article
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Open AccessArticle
Drivers of Growth in the Travel and Tourism Industry in Malaysia: A Geweke Causality Analysis
Economies 2016, 4(1), 3; https://doi.org/10.3390/economies4010003 - 26 Feb 2016
Cited by 7 | Viewed by 4570
Abstract
The travel and tourism industry has been growing in importance for several developing countries. It has not only generated considerable foreign exchange revenues but has also contributed to the overall output and socio-economic development of these countries. Within the Asia and Pacific region, [...] Read more.
The travel and tourism industry has been growing in importance for several developing countries. It has not only generated considerable foreign exchange revenues but has also contributed to the overall output and socio-economic development of these countries. Within the Asia and Pacific region, data for 2014 indicates that Malaysia was ranked very highly at no. 26 out of the 184 countries in the world in terms of the relative importance of the contribution of the travel and tourism industry to its national output. In this light, this paper aims to undertake an empirical examination of the factors driving international tourist arrivals into Malaysia. The paper attempts to identify the causal determinants of the growth of the travel and tourism industry, using quarterly data from 2000 to 2012, under a Geweke causality framework. The empirical results suggest Malaysia’s government expenditures on tourism promotion as well as infrastructure investments such as enhancing airport facilities are causal and significant determinants of growth in the travel and tourism industry. Full article
(This article belongs to the Special Issue Economic Development in Southeast Asia)
Open AccessEditorial
Acknowledgement to Reviewers of Economies in 2015
Economies 2016, 4(1), 2; https://doi.org/10.3390/economies4010002 - 22 Jan 2016
Viewed by 2779
Abstract
The editors of Economies would like to express their sincere gratitude to the following reviewers for assessing manuscripts in 2015. [...] Full article
Open AccessArticle
Falling Behind, Forging Ahead and Falling Behind Again: Thailand from 1870 to 2014
Economies 2016, 4(1), 1; https://doi.org/10.3390/economies4010001 - 22 Jan 2016
Cited by 4 | Viewed by 3848
Abstract
The paper argues that Thailand’s economic and social development from the late 19th century to the early 21st century presents a puzzle. For much of the period from 1870 to 1940, the country’s economic growth was slow, and the economy remained agricultural, with [...] Read more.
The paper argues that Thailand’s economic and social development from the late 19th century to the early 21st century presents a puzzle. For much of the period from 1870 to 1940, the country’s economic growth was slow, and the economy remained agricultural, with little diversification into modern industry or services. It was the only Southeast Asian country to escape direct colonization, and yet it did not use its relative freedom from colonial control to embark on a programme of accelerated economic, social and political modernization. The contrast with Meiji Japan has been made by several Thai and foreign scholars, but Thailand’s growth was also slow in comparison with several neighbouring countries under colonial control. Only in the late 1950s did economic growth start to accelerate and by 1996, per capita GDP was well ahead of other ASEAN countries except Malaysia and Singapore. The paper explores the reasons for the accelerated growth, looking particularly at the role of government. The paper also examines the reasons for the growth collapse of 1997/1998, and the slower economic growth since then. Full article
(This article belongs to the Special Issue Economic Development in Southeast Asia)
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