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The nature of the relationship between international tourism and international trade: the case of German imports of Spanish wine

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Author Info

  • Fischer, Christian
  • Gil-Alana, Luis A.

Abstract

This paper deals with the relationship between international trade and tourism. In particular, we focus on the effect that German tourism to Spain has on German imports of Spanish wine. Due to the different stochastic properties of the series under analysis, which display different orders of integration, we use a methodology based on long memory regression models, where tourism is supposed to be exogenous. The results show that at the aggregate level, tourism has an effect on wine imports that lasts between two and nine months. Disaggregating the imports across the different types of wine it is observed that only for red wines from Navarra, Penedús and Valdepeñas, and to a certain extent for sparkling wine, tourism produces an effect on future import demand. From a policy-making perspective our results imply that the impact of tourism on the host economy is not only direct and short-term but also oblique and delayed, thus reinforcing the case for tourism as a means for economic development.

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File URL: http://purl.umn.edu/57033
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Bibliographic Info

Paper provided by University of Bonn, Institute for Food and Resource Economics in its series Discussion Papers with number 57033.

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Date of creation: 2007
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Handle: RePEc:ags:ubfred:57033

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Web page: http://www.ilr1.uni-bonn.de/
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Related research

Keywords: international trade; tourism; long memory; Spanish wine; Demand and Price Analysis; International Relations/Trade; F14; C22; Q13; L83;

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Cited by:
  1. TANAKA Ayumu, 2013. "Geographic Concentration of Foreign Visitors to Japan," Discussion papers 13008, Research Institute of Economy, Trade and Industry (RIETI).
  2. Sarmidi, Tamat & Salleh, Norlida H, 2010. "Dynamic inter-relationship between trade, economic growth and tourism in Malaysia," MPRA Paper 21056, University Library of Munich, Germany.

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