Causalidad entre turismo y crecimiento económico de largo plazo: una revisión crítica de la literatura econométrica
[Causality between tourism and long-term economic growth: a critical review of the econometric literature]
AbstractThis work contains a critical review of main econometric studies that have addressed the analysis of causality between tourism and long-term economic growth. These studies have employed a variety of methodologies, models such as VAR, VECM, ARDL, ARCH, GARCH, cross section and panel data. In general using a test of cointegration of economic variables as a way to test Granger causality. This work shows that in the cases reviewed there is strong empirical evidence for the hypothesis of tourism's long-term economic growth. However, this does not allow general conclusions on policy and planning implications. Additionally, the study shows that the values of the elasticity of economic growth from tourism are significant different between countries.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 37332.
Date of creation: 2011
Date of revision: 2011
tourism; economic growth; Granger’s causality;
Find related papers by JEL classification:
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
- C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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