New Evidence of Dynamic Links between Tourism and Economic Growth Based on Mixed-Frequency Granger Causality Tests

Liu, Han; Song, Haiyan

doi:10.1177/0047287517723531

Cited by 63 publications

(48 citation statements)

References 43 publications

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“…While several methods of calculating the tourism multiplier effects exist (Vanhove, 2011), since our research was not centred on the multiplier effect calculation, but rather its explanation, we used the multiplier effect as the rapport between the total and direct contribution of tourism to GDP respectively job creation according to World Travel & Tourism Council (WTTC) reports. As regards the investigation method, the literature suggests two different approaches: the first one, preferred by a significant part of the literature, is the panel data / time series approach, which offers the advantage of observing a time lag between the independent variables and the emergence of the multiplier effect of tourism (Garin-Mun, 2006;Falk, 2010;Seetanah, 2011;Wu and Wu, 2017;Liu and Song, 2018). Instead, this type of analysis is dependent on the availability of data over a significant period of time in order to allow the identification of time lag.…”

Section: Methodsmentioning

confidence: 99%

Determinants and Implications of the Tourism Multiplier Effect in EU Economies. Towards a Core-Periphery PatternS

Pascariu¹,

Ibănescu²

2018

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Tourism is considered an opportunity for ensuring sustainable growth and reducing economic gaps for many less developed countries and regions. Being one of the most dynamics industries, tourism proves to be strongly resilient, with a high level of involvement and multiplication for receiver economies. The multiplication potential is, however, dependent upon a series of factors (endogenous and exogenous), insufficiently analysed in the literature, and the impact on growth and convergence is controversial. This paper aims to bring additional insights from this perspective, the main purpose of the research being to identify the macroeconomic determinants responsible for the higher values of the tourism multiplier effect and to highlight the potential of this industry to reduce the disparities between the economies of the European Union EU. Using the Stepwise regression and a series of indicators that associate the economic, social and spatial dimensions of European tourism, the main determinants of multiplier effects (on GDP and job creation) are identified and, then, the processes of multiplication from the perspective of centre-periphery dynamics are analysed. The research results indicated that tourism development in the Union reflects a centre-periphery model and has a high potential for contributing to reducing intra-EU disparities.

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Section: Methodsmentioning

confidence: 99%

Determinants and Implications of the Tourism Multiplier Effect in EU Economies. Towards a Core-Periphery PatternS

Pascariu¹,

Ibănescu²

2018

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“…Several papers such as Belloumi (2010), Croes & Vanegas (2008) and Shahzad et al (2017) employ time series models. Other papers use panel data models (Bilen et al, 2017;Liu & Song, 2018;Salifou and Haq, 2017), which give a larger degree of freedom in the model estimation and are particularly useful when the time series are brief (Song et al, 2019;Wu et al, 2017). Po & Huang (2008) use a cross-sectional study of 88 nations during the period from 1995 to 2005.…”

Section: Literature Reviewmentioning

confidence: 99%

The Relation between Tourism and Economic Growth: A Case of Saudi Arabia as an Emerging Tourism Destination

Jamel

2020

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This paper examines empirically the relation between tourism and economic growth in Saudi Arabia. The authors try to justify how tourism contributes to the economic growth of Saudi Arabia. There are applied descriptive statistics, unit root test, VAR model and Granger Causality test as an econometric methodology to examine the connection between tourism and economic growth in Saudi Arabia for the annual data in the period from 1990 to 2018. The main empirical results of the study find out that tourism affects positively the economic growth in Saudi Arabia. Also, there is found a positive nexus among tourism and economic growth. Furthermore, CO2 emissions and financial development impact positively the tourism sector, while trade openness predicts a negative effect on tourism. Additionally, CO2 emissions, financial development, and trade openness have a positive impact on economic growth in Saudi Arabia. Finally, the Granger causality test provides evidence of bidirectional nexus between tourism and economic growth in Saudi Arabia. This paper contributes to the current research by explaining the causal nexus among tourism and economic growth in Saudi Arabia during the period from 1990 to 2018, applying a vector autoregressive model and Granger Causality.

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“…In order to identify the risk causes and circumstances, it is necessary to analyze risk factors in the region under study. A factor is the reason, the driving force of a process, determining its nature or individual features (Han and Song 2017). We split the factors affecting the problem of tourism development, into internal and external ones by their sphere of influence.…”

Section: Internal and External Risk Factorsmentioning

confidence: 99%

Risk factors in the leading sustainable development for the Nizhny Novgorod Region

Zykova¹,

Kochkurova²

2018

Proceedings of the 2nd International Conference on Social, Economic and Academic Leadership (ICSEAL 2018)

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This paper reviews and systematizes the risk factors having an influence on the sustainable development of the tourism industry -one of the leading and especially promising development sectors of the Nizhny Novgorod region. The paper examines weaknesses, threats and risks of the tourist industry in the region. Further, it analyzes the state of the tourist sphere of the Nizhny Novgorod region over the past few years. In addition, the paper presents an analysis of the risk factors that are typical for tourism in the area under study. Using the method of analyzing hierarchies and involving an expert group, the identified factors were ranked to identify those having the greatest impact on the development of tourism in the Nizhny Novgorod region. We establish the relationship and analyze the degree of influence of the identified risk factors on the development of tourism in the region is determined based on statistical indicators analysis. Moreover, we propose measures that would enable to manage risks through the application of competent public policies and strategies for the development of the tourism industry.

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New Evidence of Dynamic Links between Tourism and Economic Growth Based on Mixed-Frequency Granger Causality Tests

Cited by 63 publications

References 43 publications

Determinants and Implications of the Tourism Multiplier Effect in EU Economies. Towards a Core-Periphery PatternS

Determinants and Implications of the Tourism Multiplier Effect in EU Economies. Towards a Core-Periphery PatternS

The Relation between Tourism and Economic Growth: A Case of Saudi Arabia as an Emerging Tourism Destination

Risk factors in the leading sustainable development for the Nizhny Novgorod Region

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