The Relationship between Foreign Direct Investment and Tourism Development: Evidence from Developing Countries
This paper investigates the existence of Granger causality and co-integrated relationships between tourism related Foreign Direct Investment (FDI)and tourism development in developing countries using panel VECM techniques from 1995 to 2008. The results confirm the existence of a co-integrated relationship between variables in the long run. In addition, there is a bilateral long-run causality between tourism related FDI and tourism development, while there is no short-run causality between variables.
Volume (Year): 5 (2013)
Issue (Month): 2 (July)
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