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Foreign direct investment and tourism in SIDS: evidence from panel causality tests

This study applies panel causality methods to investigate the relationship between foreign direct investment (FDI) and tourism in Small Island Developing States (SIDS). The results of the homogenous and instantaneous causality tests suggest that there is a bi-directional causal relationship between the variables. However, this causality is not homogenous for the group of countries. Indeed, heterogeneous causality procedures indicate that there exists a bi-directional causal relationship for only a small set of countries. For the most part, the causal relationship runs from FDI to tourism, implying that FDI provides much needed capacity for SIDS and therefore allows these countries to expand their tourism product.

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File URL: http://mpra.ub.uni-muenchen.de/33438/1/MPRA_paper_33438.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 33438.

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Date of creation: 2008
Date of revision:
Publication status: Published in Tourism Analysis 4.13(2008): pp. 427-432
Handle: RePEc:pra:mprapa:33438
Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: http://mpra.ub.uni-muenchen.de

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  1. Kundu, Sumit K. & Contractor, Farok J., 1999. "Country location choices of service multinationals: An empirical study of the international hotel sector," Journal of International Management, Elsevier, vol. 5(4), pages 299-317.
  2. Richard Blundell & Steve Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers W95/17, Institute for Fiscal Studies.
  3. Holtz-Eakin, Douglas & Newey, Whitney & Rosen, Harvey S, 1988. "Estimating Vector Autoregressions with Panel Data," Econometrica, Econometric Society, vol. 56(6), pages 1371-95, November.
  4. Craigwell, Roland, 2007. "Tourism Competitiveness in Small Island Developing States," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  5. Read, Robert, 2007. "Foreign Direct Investment in Small Island Developing States," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  6. Tisdell, Clem & Wen, Jie, 1991. "Investment in China's tourism industry: Its scale, nature, and policy issues," China Economic Review, Elsevier, vol. 2(2), pages 175-193.
  7. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
  8. John H. Dunning & Matthew McQueen, 1981. "The eclectic theory of international production: A case study of the international hotel industry," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 2(4), pages 197-210, December.
  9. H Armstrong, R de Kervenoael, Xiao-Ming Li and R Read, . "A Comparision of the economic performance of different micro-states and between micro-states and larger countries," Working Papers ec9/97, Department of Economics, University of Lancaster.
  10. Venet, Baptiste & Hurlin, Christophe, 2001. "Granger Causality Tests in Panel Data Models with Fixed Coefficients," Economics Papers from University Paris Dauphine 123456789/6159, Paris Dauphine University.
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