IDEAS home Printed from https://ideas.repec.org/a/ijr/journl/v3y2015i10p479-488.html
   My bibliography  Save this article

Macroeconomic Determinants of Tourism Earnings in Ghana

Author

Listed:
  • Anthony K. Ahiawodzi

    (Department of Banking and Finance, University of Professional Studies, Ghana.)

Abstract

Purpose: The study sets out to examine the main macroeconomic determinants of tourism earnings in Ghana during the period 1970 to 2013. Both theoretical and empirical literature on the topic was thoroughly reviewed. In line with the objective of the study, an econometric model is specified with tourism earnings as the dependent variable. The independent variables include income, trade openness, nominal interest rate, consumer price index and exchange rate. The relevant time series techniques were used for the analysis. Methodology: These included Augmented Dickey-Fuller test for unit root, Johansen and Juselius cointegration test. Findings: The findings of the study revealed that there is a long-run cointegration relationship between tourism earnings and the macroeconomic variables. The important significant variables are trade openness, rate of change of consumer price index and exchange rate. Recommendations: The policy implications of the study are that the government should pursue prudent macroeconomic policies preferably, increased trade openness, low inflation rate and realistic exchange rate in order to boost tourism earnings in Ghana.

Suggested Citation

  • Anthony K. Ahiawodzi, 2015. "Macroeconomic Determinants of Tourism Earnings in Ghana," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 3(10), pages 479-488, October.
    • Handle: RePEc:ijr:journl:v:3:y:2015:i:10:p:479-488
    as

    Download full text from publisher

    File URL: http://tesdo.org/shared/upload/pdf/papers/IJEER,%203_10_,%20479-488%20.pdf
    Download Restriction: no
    File URL: http://tesdo.org/journal_detail.php?paper_id=207&expand_year=2015
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Tourism earnings; Determinants; Stationarity; Cointegration;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ijr:journl:v:3:y:2015:i:10:p:479-488. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Muhammad Shahbaz (PhD Applied Economics) (email available below). General contact details of provider: https://edirc.repec.org/data/tesdopk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.