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Tourism, globalization and economic growth: a panel cointegration analysis for selected West African States

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  • Coulibaly Kigbajah Salifou
  • Ihtisham ul Haq

Abstract

This study examined the tourism-led hypothesis for selected 11 countries of Economic Community of West African States (ECOWAS). Panel cointegration technique was employed to inspect long-run relationship between study variables. Results of fully modified ordinary least squares and dynamic ordinary least squares confirmed the positive effect of physical capital, tourism and economic globalization index on economic growth. Thus, tourism-led growth hypothesis exists in ECOWAS. Conversely, negative impact of foreign direct investment on growth was captured.

Suggested Citation

  • Coulibaly Kigbajah Salifou & Ihtisham ul Haq, 2017. "Tourism, globalization and economic growth: a panel cointegration analysis for selected West African States," Current Issues in Tourism, Taylor & Francis Journals, vol. 20(6), pages 664-667, April.
    • Handle: RePEc:taf:rcitxx:v:20:y:2017:i:6:p:664-667
    DOI: 10.1080/13683500.2016.1175421
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    Cited by:

    1. Jorge V Pérez-Rodríguez & Heiko Rachinger & María Santana-Gallego, 2022. "Does tourism promote economic growth? A fractionally integrated heterogeneous panel data analysis," Tourism Economics, , vol. 28(5), pages 1355-1376, August.
    2. Ting Xu & Zhike Lv, 2023. "The effect of tourism on the shadow economy: The level of economic development is key," Tourism Economics, , vol. 29(8), pages 2129-2142, December.
    3. Kizito Uyi Ehigiamusoe, 2023. "A disaggregated approach to analysing the effects of globalization and energy consumption on economic growth: New insights from low‐income countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 3976-3996, October.
    4. Lamia Jamel, 2020. "The Relation between Tourism and Economic Growth: A Case of Saudi Arabia as an Emerging Tourism Destination," Virtual Economics, The London Academy of Science and Business, vol. 3(4), pages 29-47, October.

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