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Economic Growth and Tourism Demand in Croatia: the Cyclical Component Analysis

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  • Tonći Svilokos Meri Šuman Tolić Ivana Pavlić

    (University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia)

Abstract

Development of tourism has often been considered as a positive contributor to economic growth. The impact of tourism to a country economy is multifaceted. As such, tourism may represent an excellent tool for development. This paper presents preliminary findings using descriptive statistics and spectral analysis. Therefore, the main purpose of this research is to examine the relationship between the cyclical components of Croatian economy for periods 1972-2013. Using spectral analysis the authors compare the cyclical fluctuations of gross domestic product (GDP) and total tourist arrivals. VAR analysis is also applied in order to detect the relationship between analysed cyclical components in Croatia. JEL Classification: E42, L83, E27, O40, C22

Suggested Citation

  • Tonći Svilokos Meri Šuman Tolić Ivana Pavlić, 2014. "Economic Growth and Tourism Demand in Croatia: the Cyclical Component Analysis," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 17(Special C), pages 65-80, December.
    • Handle: RePEc:zag:zirebs:v:17:y:2014:i:sci:p:65-80
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    Cited by:

    1. Duyen Dang Thi Thuy & Huyen Giang Thi Thu, 2023. "Tourism with Energy Production and Consumption in the Red River Delta, Vietnam," International Journal of Energy Economics and Policy, Econjournals, vol. 13(1), pages 501-509, January.

    More about this item

    Keywords

    tourist arrivals; economic growth; cycle components; VAR; Croatia;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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