The Relationship between Foreign Direct Investment and Tourism Development: Evidence from Developing Countries
AbstractThis paper investigates the existence of Granger causality and co-integrated relationships between tourism related Foreign Direct Investment (FDI)and tourism development in developing countries using panel VECM techniques from 1995 to 2008. The results confirm the existence of a co-integrated relationship between variables in the long run. In addition, there is a bilateral long-run causality between tourism related FDI and tourism development, while there is no short-run causality between variables.
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Bibliographic InfoArticle provided by Faculty of Economics and Administration, University of Malaya in its journal Institutions and Economies (formerly known as International Journal of Institutions and Economies).
Volume (Year): 5 (2013)
Issue (Month): 2 (July)
developing countries; Foreign Direct Investment; panel VECM; tourism industry;
Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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