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Tourism and Growth in European Countries: An Application of Likelihood-Based Panel Cointegration

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  • Felipa de Mello-Sampayo

    ()
    (ISCTE-IUL - Department of Economics and UNIDE-ERC)

  • Sofia de Sousa-Vale

    (ISCTE-IUL - Department of Economics and UNIDE-ERC)

Abstract

The tourism and economic growth relationship is investigated for a panel of European countries over the period 1988–2010. The results reveal that the variables contain a panel unit root and they cointegrate in a panel perspective. The findings show that tourism enhance economic growth for some countries in the sample.

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File URL: http://bru-unide.iscte.pt/RePEc/pdfs/ERCwp0510.pdf
File Function: First version, 2010
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Bibliographic Info

Paper provided by ISCTE-IUL, Business Research Unit (BRU-IUL) in its series Working Papers Series 1 with number ercwp0510.

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Length: 21 pages
Date of creation: 15 May 2010
Date of revision:
Handle: RePEc:isc:iscwp1:ercwp0510

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Web page: http://bru-unide.iscte.pt/
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Related research

Keywords: Tourism; Economic growth; Rank tests; Panel unit root tests; Panel cointegration;

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References

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  1. MOON, Hyungsik Roger & PERRON, Benoit., 2002. "Testing for a Unit Root in Panels with Dynamic Factors," Cahiers de recherche 2002-18, Universite de Montreal, Departement de sciences economiques.
  2. Salih Katircioglu, 2009. "Tourism, trade and growth: the case of Cyprus," Applied Economics, Taylor & Francis Journals, vol. 41(21), pages 2741-2750.
  3. Jacint Balaguer & Manuel Cantavella-Jorda, 2002. "Tourism as a long-run economic growth factor: the Spanish case," Applied Economics, Taylor & Francis Journals, vol. 34(7), pages 877-884.
  4. Larsson, Rolf & Lyhagen, Johan & Löthgren, Mickael, 1998. "Likelihood-Based Cointegration Tests in Heterogeneous Panels," Working Paper Series in Economics and Finance 250, Stockholm School of Economics, revised 27 Aug 1998.
  5. Larsson, Rolf & Lyhagen, Johan, 1999. "Likelihood-Based Inference in Multivariate Panel Cointegration Models," Working Paper Series in Economics and Finance 331, Stockholm School of Economics.
  6. Lokman Gunduz & Abdulnasser Hatemi-J, 2005. "Is the tourism-led growth hypothesis valid for Turkey?," Applied Economics Letters, Taylor & Francis Journals, vol. 12(8), pages 499-504.
  7. Pedroni, Peter, 2004. "Panel Cointegration: Asymptotic And Finite Sample Properties Of Pooled Time Series Tests With An Application To The Ppp Hypothesis," Econometric Theory, Cambridge University Press, vol. 20(03), pages 597-625, June.
  8. Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics 9526, Faculty of Economics, University of Cambridge.
  9. Juan Luis Eugenio-Martín & Noelia Martín Morales & Riccardo Scarpa, 2004. "Tourism and Economic Growth in Latin American Countries: A Panel Data Approach," Working Papers 2004.26, Fondazione Eni Enrico Mattei.
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Citations

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Cited by:
  1. B. Biagi & C. Detotto, 2010. "Crime as tourism externality," Working Paper CRENoS 201015, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  2. 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.
  3. João Sousa Andrade & Marta Simões & Adelaide Duarte, 2013. "Despesa Pública em Educação e Saúde e Crescimento Económico: Um Contributo para o Debate sobre as Funções Sociais do Estado," GEMF Working Papers 2013-18, GEMF - Faculdade de Economia, Universidade de Coimbra.

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