The Role of the World Bank in the Inclusive Financing of Tourism as an Instrument of Sustainable Development

Carrillo‐Hidalgo, Isabel; Fernández, Juan Ignacio Pulido

doi:10.3390/su12010285

Cited by 9 publications

(10 citation statements)

References 18 publications

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“…As far as we know, most researchers concentrate on how tourism affects financial inclusion (Carrillo-Hidalgo and Pulido-Fernández, 2019b). Stated tourism is one of the most important weapons for assuring economic growth, improving the quality of life, and eliminating poverty and inequality in developing countries.…”

Section: Financial Inclusion and Tourism Development (Literature Review)mentioning

confidence: 99%

Nexus between environmental sustainability, good governance, financial inclusion, and tourism development in Bangladesh: Evidence from symmetric and asymmetric investigation

Islam

Mindia

Farzana

et al. 2023

Front. Environ. Sci.

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Over the past decade, tourism’s contribution to economic Section progress has emerged as an alternative avenue for socio-economic development, especially in the productive economy with natural beauty. On the other hand, the potential effects of tourism on the environment have also been unveiled in the literature, along with macroeconomic misbehavior due to erratic environmental changes. However, the study’s impetus is to inspect the reaction of tourism contribution to Bangladesh’s economy from 1991–2019 with ecological sustainability, good governance, and financial inclusion in the empirical assessment. With the implementation of both linear and non-linear frameworks, the present study has explored the elasticities of core explanatory variables on explained variables; for directional causality, the novel Fourier Toda and Yamamoto causality test has been executed. According to the combined cointegration test, Bangladesh has a long-run association between environmental sustainability, good governance, financial inclusion, and tourism development. Inferring from long-run symmetric and asymmetric cointegration, the test statistics revealed statistically significant at a 1% level, suggesting the long-run relations in the established empirical model. Considering the linear autoregressive disoriented lagged, the study established a negative and statistically significant linkage between environmental sustainably and tourism contribution, suggesting that the excessive inflows of carbon emission that environmental degradation dwindles the progress of tourism contribution. Whereas a positive and statistically significant influence runs from good governance and financial inclusion to tourism development, the suggestion of easy access to financial services and effective institutional activities prompts tourism activities, especially in the long-run. The asymmetric investigation established non-linearity in the empirical model for the long and short-run. In terms of asymmetric coefficients, the study unveiled the positive and negative shocks of environmental sustainability exposed negatively and statistically significant. In contrast, the asymmetric shocks of financial inclusion and good governance established positive and statistically substantial Bangladesh tourism development in the long and short-run. The directional causality assessment revealed bidirectional causality running between explanatory variables to tourism development.

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Section: Financial Inclusion and Tourism Development (Literature Review)mentioning

confidence: 99%

Nexus between environmental sustainability, good governance, financial inclusion, and tourism development in Bangladesh: Evidence from symmetric and asymmetric investigation

Islam

Mindia

Farzana

et al. 2023

Front. Environ. Sci.

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“…Even though it has been increasingly improving, studies still show that this remains one of the main obstacles for SMEs [46]. Regardless of the World Bank stating that one of its objectives is to invest in different strategic sectors, including tourism [47], it seems a far reality for many SMEs.…”

Section: Access To Financementioning

confidence: 99%

Revisiting Small- and Medium-Sized Enterprises’ Innovation and Resilience during COVID-19: The Tourism Sector

Dias

Cunha

Pereira

et al. 2022

Journal of Open Innovation: Technology, Market, and Complexity

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Every day, companies are exposed to various risks arising from their environment, and small and medium enterprises (SMEs) are the most affected. This study emphasizes innovation and resilience as the starting points to understand how SMEs are influenced by external factors which are independent of the managers’ will. To date, we have seen several extreme factors that have conditioned businesses and entrepreneurs of these types of companies, such as the financial crisis of 2008. However, last year, in 2020, we saw the beginning of a worldwide pandemic: COVID-19. Thus, this research seeks to understand the extent to which this pandemic influenced the resilience and innovation of SMEs in the tourism area. Thus, eight hypotheses were raised based on four independent variables: access to finance, risk taking, working conditions, and personal network. The study of these variables was developed from an online questionnaire and in-depth interviews. After analyzing the results, it is possible to infer that the COVID-19 pandemic resulted in consequences never observed in previous crises, to such an extent that the study showed that: (1) a company’s network positively influences its resilience; (2) risk taking influences innovation and resilience of these SMEs.

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“…The focus and difficulty of poverty governance will shift from the obvious absolute poverty to the more hidden relative poverty, facing the problems of high credit pressure in the village of poverty eradication and the difficulty of identifying and recognizing the relatively poor farmers. [1][2] How to build and improve the relative poverty governance system is an important topic of anti-poverty strategy in the post-poor era [3][4][5][6]. In order to make different social classes enjoy fair financial resources, especially to meet the financing needs of low-income groups [7][8][9].…”

Section: Introductionmentioning

confidence: 99%

Research on poverty reduction effect of digital financial inclusion based on K-LSTM-ecm modeling

Wang,

2023

Applied Mathematics and Nonlinear Sciences

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In this paper, we use the K-LSTM-ecm model to test the mediation effect of digital financial inclusion and use the level of digital financial inclusion development as the threshold variable and core variable to examine the role of digital financial inclusion development on the poverty reduction effect. The variables are brought back to equilibrium by correcting the errors, and the coefficients of the different terms of the variables are utilized to carry out the calculation of the predictive value of digital financial inclusion. It has been found that the digitization degree index for digital financial inclusion increases fivefold, and the disposable income per capita of residents increases from 18,000 yuan to 31,000 yuan. It shows that the combination of digital financial inclusion and the K-LSTM-ecm model has certain practical significance for future rural financial innovation, as well as the development of financial technology.

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The Role of the World Bank in the Inclusive Financing of Tourism as an Instrument of Sustainable Development

Cited by 9 publications

References 18 publications

Nexus between environmental sustainability, good governance, financial inclusion, and tourism development in Bangladesh: Evidence from symmetric and asymmetric investigation

Nexus between environmental sustainability, good governance, financial inclusion, and tourism development in Bangladesh: Evidence from symmetric and asymmetric investigation

Revisiting Small- and Medium-Sized Enterprises’ Innovation and Resilience during COVID-19: The Tourism Sector

Research on poverty reduction effect of digital financial inclusion based on K-LSTM-ecm modeling

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