Casinos and Economic Growth
AbstractCasino gambling is a popular form of entertainment and is purported to have positive effects on host economies. The industry surely affects local labor markets and tax revenues. However, there has been little evidence on the effects of casino gambling on state economic growth. This paper examines that relationship using Granger-causality analysis modified for use with panel data. Our results indicate that there is no Granger-causal relationship between real casino revenues and real per capita income at the state level. The results are based on annual data from 1991 to 2005. These findings contradict an earlier study that found that casino revenues Granger-cause economic growth, using quarterly data from 1991 to 1996. Possible explanations for the differences in short- and long-run effects are discussed. Copyright 2007 American Journal of Economics and Sociology, Inc..
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal American Journal of Economics and Sociology.
Volume (Year): 66 (2007)
Issue (Month): 3 (07)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0002-9246
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- Jonathan Wiley & Douglas Walker, 2011. "Casino Revenues and Retail Property Values: The Detroit Case," The Journal of Real Estate Finance and Economics, Springer, vol. 42(1), pages 99-114, January.
- Humphreys, Brad R. & Marchand, Joseph, 2013.
"New casinos and local labor markets: Evidence from Canada,"
Elsevier, vol. 24(C), pages 151-160.
- Humphreys, Brad & Marchand, Joseph, 2012. "New Casinos and Local Labor Markets: Evidence from Canada," Working Papers 2012-16, University of Alberta, Department of Economics, revised 01 Nov 2012.
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