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Long run economic growth and tourism: inferring from Uruguay

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Author Info

  • Stefania Lionetti

    ()
    (IRE, Facolta' di Scienze Economiche, University of Lugano, Switzerland)

  • Juan Gabriel Brida

    ()
    (School of Economics and Management - Free University of Bolzano, Italy)

  • Wiston Adrián Risso

    ()
    (Department of Economics - University of Siena, Italy)

Abstract

Argentina is the principal source of tourism in Uruguay. This paper analyzes the effects in the long run of tourism from Argentina on the economic growth of Uruguay. Using quarterly data from 1987.I to 2006.IV, the study uses co-integration analysis and shows the existence of one cointegrated vector among Uruguayan real per capita GDP, Argentinean tourism expenditure, and real exchange rate between Uruguay and Argentina, and tests that the causality relationship positively goes in one way from Argentinean tourism expenditure to real per capita GDP of Uruguay.

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Bibliographic Info

Paper provided by USI Università della Svizzera italiana in its series Quaderni della facoltà di Scienze economiche dell'Università di Lugano with number 0901.

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Length: 28 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:lug:wpaper:0901

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Web page: https://www.bul.sbu.usi.ch

Related research

Keywords: economic growth; tourism earnings; Johansen cointegration test; Granger causality;

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  1. Pasquale M. Sgro & Jean-Jacques Nowak & Mondher Sahli, 2004. "Tourism, Trade and Domestic Welfare," Working Papers 2004.24, Fondazione Eni Enrico Mattei.
  2. Jacint Balaguer & Manuel Cantavella-Jordá, 2000. "Tourism As A Long-Run Economic Growth Factor: The Spanish Case," Working Papers. Serie EC 2000-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Phillips, P.C.B., 1986. "Understanding spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 33(3), pages 311-340, December.
  4. Edgar J Sanchez Carrera & W. Adrian Risso & Juan Gabriel Brida, 2008. "Tourism's Impact on Long-Run Mexican Economic Growth," Economics Bulletin, AccessEcon, vol. 3(21), pages 1-8.
  5. Anne O. Krueger, 1980. "Trade Policy as an Input to Development," NBER Working Papers 0466, National Bureau of Economic Research, Inc.
  6. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
  7. repec:ebl:ecbull:v:3:y:2008:i:21:p:1-8 is not listed on IDEAS
  8. Isabel Cortes-Jimenez & Manuela Pulina, 2006. "Tourism and Growth: Evidence for Spain and Italy," ERSA conference papers ersa06p128, European Regional Science Association.
  9. Bennett T. McCallum, 1983. "On Low-Frequency Estimates of "Long-Run" Relationships in Macro- economics," NBER Working Papers 1162, National Bureau of Economic Research, Inc.
  10. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
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