A literature review on the tourism-led-growth hypothesis
AbstractThe aim of this paper is to provide a comprehensive literature review on the temporal relationship between tourism and economic growth. Specifically, the role of a such economic activity, as a promoter of short and long run economic growth, is investigated by assessing the so-called Tourism Led Growth Hypothesis (TLGH). To this aim, various methodological approaches have been used, such as VAR, VECM, ARDL, ARCH, GARCH, cross section and panel data. The cointegrating relationship of the economic variables allows one to test the short and long run Granger no-causality. Overall, the empirical findings, emerging from the existing literature, provide evidence that indeed tourism activity drives economic development in all the countries analysed. This outcome further supports the well-established contribution that international tourism has to the economic development.
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Bibliographic InfoPaper provided by Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia in its series Working Paper CRENoS with number 201017.
Date of creation: 2010
Date of revision:
tourism; economic growth; granger causality; comprehensive review;
Find related papers by JEL classification:
- D30 - Microeconomics - - Distribution - - - General
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-10-30 (All new papers)
- NEP-FDG-2010-10-30 (Financial Development & Growth)
- NEP-TUR-2010-10-30 (Tourism Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lutkepohl, Helmut, 1982. "Non-causality due to omitted variables," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 367-378, August.
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- Antonakakis, Nikolaos & Dragouni, Mina & Filis, George, 2013.
"Time-Varying Interdependencies of Tourism and Economic Growth: Evidence from European Countries,"
48715, University Library of Munich, Germany.
- Mina Dragouni & George Filis & Nikolaos Antonakakis, 2013. "Time-Varying Interdependencies of Tourism and Economic Growth: Evidence from European Countries," FIW Working Paper series 128, FIW.
- Tveteras, Sigbjorn & Roll, Kristin H., 2011. "Long-haul flights and tourist arrivals," MPRA Paper 32157, University Library of Munich, Germany.
- Theodore Panagiotidis & Thomas Panagiotou & Maurizio Mussoni, 2012. "Tourism Led Growth: Evidence from Panel Cointegration Tests," Working Paper Series 74_12, The Rimini Centre for Economic Analysis.
- R. Paci & E. Marrocu, 2012. "Tourism and regional growth in Europe," Working Paper CRENoS 201235, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
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