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Revisiting The Tourism-Led Growth Hypothesis For Barbados: A Disaggregated Market Approach


  • Jackman M.M.


In testing the tourism-led growth hypothesis, researchers tend to use an aggregate measure of tourism - usually total tourism earnings or tourist arrivals. In contrast, this study adopts a disaggregated market approach to testing this hypothesis. The main advantage of the disaggregated approach is that it provides information on effects of specific tourism markets on growth. Results indicate that while causality from tourism to growth is found for each market over the full sample period (1975Q1 to 2010Q2), but the causal relationships are not stable.

Suggested Citation

  • Jackman M.M., 2012. "Revisiting The Tourism-Led Growth Hypothesis For Barbados: A Disaggregated Market Approach," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 12(2).
  • Handle: RePEc:eaa:eerese:v:12:y2012:i:2_3

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    References listed on IDEAS

    1. Brida, Juan Gabriel & Barquet, Andrea & Risso, Wiston Adrián, 2009. "Causality between Economic Growth and Tourism Expansion: Empirical Evidence from Trentino - Alto Adige," MPRA Paper 25316, University Library of Munich, Germany, revised 14 Dec 2009.
    2. 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.
    3. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-438, July.
    4. Mayers, Sherry-Ann & Jackman, Mahalia, 2011. "Investigating the business cycle properties of tourist flows to Barbados," MPRA Paper 38646, University Library of Munich, Germany.
    5. Toda, Hiro Y. & Yamamoto, Taku, 1995. "Statistical inference in vector autoregressions with possibly integrated processes," Journal of Econometrics, Elsevier, vol. 66(1-2), pages 225-250.
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    Cited by:

    1. Mayers, Sherry-Ann & Jackman, Mahalia, 2011. "Investigating the business cycle properties of tourist flows to Barbados," MPRA Paper 38646, University Library of Munich, Germany.
    2. Troy Lorde & Mahalia Jackman & Simon Naitram & Shane Lowe, 2016. "Does crime depend on the “state” of economic misery?," International Journal of Social Economics, Emerald Group Publishing, vol. 43(11), pages 1124-1134, November.
    3. Eda BALIKÇIOĞLU & Kutay OKTAY, 2015. "Türkiye’de Turizm Gelirleri ve Ekonomik Büyüme İlişkisinin Kamu Politikaları Doğrultusunda Değerlendirilmesi," Sosyoekonomi Journal, Sosyoekonomi Society, issue 23(25).
    4. Mahalia Jackman & Simon Naitram, 2015. "Research Note: Nowcasting Tourist Arrivals in Barbados – Just Google it!," Tourism Economics, , vol. 21(6), pages 1309-1313, December.
    5. José Antonio Camuñez & Maria P Pablo-Romero & Javier Sánchez-Rivas, 2018. "Tourism capital," Tourism Economics, , vol. 24(7), pages 889-900, November.
    6. Mahalia Jackman, 2012. "Foreign exchange intervention in a small open economy with a long term peg," Economics Bulletin, AccessEcon, vol. 32(3), pages 2207-2219.
    7. Alina Badulescu & Daniel Badulescu & Ramona Simu?, 2018. "The Complex Relationship between International Tourism Demand and Economic Growth: An Analysis on Central and Eastern European Economies," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 20(S12), pages 935-935, November.
    8. Jackman, Mahalia & Lorde, Troy & Naitram, Simon & Greenaway, Tori, 2020. "Distance matters: the impact of physical and relative distance on pleasure tourists' length of stay in Barbados," Annals of Tourism Research, Elsevier, vol. 80(C).
    9. Syed Jawad Hussain Shahzad & Román Ferrer, 2020. "Dynamic spillover effects among tourism, economic growth and macro-finance risk factors," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 19(3), pages 173-194, September.
    10. Carmen GONZÁLEZ & Francisco JAREÑO, 2014. "Financial Analysis Of The Main Hotel Chains Of The Spanish Tourism Sector," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 14(2).
    11. Mahalia Jackman, 2014. "Output Volatility and Tourism Specialization in Small Island Developing States," Tourism Economics, , vol. 20(3), pages 527-544, June.
    12. Abdelmohsen A. Nassani & Khalid Zaman & Abdullah Mohammed Aldakhil & Muhammad Moinuddin Qazi Abro, 2017. "War economy and pleasure: assessing the effects of military expenditure on tourism growth," Quality & Quantity: International Journal of Methodology, Springer, vol. 51(4), pages 1733-1754, July.
    13. Benzarour, Choukri & satour, rachid, 2016. "السياحة والنمو الاقتصادي في الجزائر : الأدلة من التكامل المشترك و تحليل السببية [Tourism and economic growth in Algeria: Evidence of Cointegration and causal analysis]," MPRA Paper 78731, University Library of Munich, Germany.
    14. Bojanic, David C. & Lo, Melody, 2016. "A comparison of the moderating effect of tourism reliance on the economic development for islands and other countries," Tourism Management, Elsevier, vol. 53(C), pages 207-214.

    More about this item


    Tourism; Growth; Barbados;

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General


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