Advanced Search
MyIDEAS: Login to save this paper or follow this series

Tourism Led Growth: Evidence from Panel Cointegration Tests

Contents:

Author Info

  • Theodore Panagiotidis

    (Department of Economics, University of Macedonia, Greece; The Rimini Centre for Economic Analysis, Italy)

  • Thomas Panagiotou

    (European University Institute, Italy)

  • Maurizio Mussoni

    (Department of Economics, University of Bologna, Italy; The Rimini Centre for Economic Analysis, Italy)

Abstract

The Tourism-Led-Growth hypothesis is investigated in this study. We employ a panel of 187 countries for a period that spans from 1995 to 2009. Panel unit root tests confirm that both GDP and tourism receipts are non-stationary. Alternative panel cointegration tests are employed and the results suggest that there is a long-run relationship between tourism receipts and GDP. Different specifications that take into account the accounting effect, confirm the latter. Finally, the long-run elasticities of tourism receipts on GDP are found to take values close to 0.2.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.rcfea.org/RePEc/pdf/wp74_12.pdf
Download Restriction: no

Bibliographic Info

Paper provided by The Rimini Centre for Economic Analysis in its series Working Paper Series with number 74_12.

as in new window
Length:
Date of creation: Nov 2012
Date of revision:
Handle: RePEc:rim:rimwps:74_12

Contact details of provider:
Postal: Via Patara, 3, 47921 Rimini (RN)
Phone: +390541434142
Fax: +39054155431
Email:
Web page: http://www.rcfea.org
More information through EDIRC

Related research

Keywords: panel unit roots; panel cointegration; tourism-led-growth;

Find related papers by JEL classification:

References

References listed on IDEAS
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.:
as in new window
  1. Copeland, Brian R, 1991. "Tourism, Welfare and De-industrialization in a Small Open Economy," Economica, London School of Economics and Political Science, vol. 58(232), pages 515-29, November.
  2. R. Brau & A. Lanza & F. Pigliaru, 2006. "How fast are small tourist countries growing? The 1980-2003 evidence," Working Paper CRENoS 200614, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  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. Selva Demiralp & Kevin D. Hoover, 2003. "Searching for the Causal Structure of a Vector Autoregression," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 65(s1), pages 745-767, December.
  5. 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.
  6. 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.
  7. F. Cerina, 2006. "Tourism specialization and environmental sustainability in a dynamic economy," Working Paper CRENoS 200602, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  8. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
  9. R. Brau & A. Lanza & F. Pigliaru, 2003. "How fast are tourism countries growing? The cross country evidence," Working Paper CRENoS 200309, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  10. JG. Brida & M. Pulina, 2010. "A literature review on the tourism-led-growth hypothesis," Working Paper CRENoS 201017, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  11. Brida, Juan Gabriel & Pereyra, Juan S. & Risso, Wiston Adrián & Devesa, María Jesús Such & Aguirre, Sandra Zapata, 2008. "The Tourism-led Growth Hypothesis: Empirical Evidence from Colombia," MPRA Paper 25286, University Library of Munich, Germany, revised 19 Mar 2009.
  12. Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
  13. Easterly, William & Kraay, Aart, 2000. "Small States, Small Problems? Income, Growth, and Volatility in Small States," World Development, Elsevier, vol. 28(11), pages 2013-2027, November.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:rim:rimwps:74_12. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roberto Patuelli).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.