Tourism and Growth in European Countries: Model Specification and Panel Data Analysis

Mello-Sampayo, Felipa de; Vale, Sofia

doi:10.3790/aeq.57.4.303

Cited by 6 publications

(9 citation statements)

References 20 publications

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“…and tourism growth could be conducted using the co-integration and causality tests. Such research methodology is very common in papers dealing with the tourism-led growth hypothesis, with respect to the issue of causality tests between tourism development and economic growth, exemplified by particular destination (Arslanturk, Balcilar, & Ozdemir, 2011;Belloumi, 2010;Bouzahzah & El Menyari, 2013;Schubert, Brida, & Risso, 2011;Surugiu & Surugiu, 2013), or a panel of countries (Aslan, 2014;Caglayan, Sak, & Karymshakov, 2012;Fourie & Santana-Gallego, 2011;Mello-Sampayo & Sousa-Vale, 2012). As far as papers related to F.D.I.-led tourism growth hypothesis are concerned (Salleh et al, 2011), with respect to the issue of causality tests between F.D.I.…”

Section: Review Of Literaturementioning

confidence: 99%

Tourism foreign direct investment led tourism gross value added: a co-integration and causality analysis of Croatian tourism

Bezić

Radić

2017

Economic Research-Ekonomska Istraživanja

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The purpose of this study was to investigate the causal relationship between foreign direct investment in tourism and tourism gross value added in Croatia. The study employed econometric techniques, such as the unit root test, Johansen co-integration, and the Granger causality test, in a vector error correction model (V.E.C. model), and the Toda-Yamamoto causality test in a vector autoregressive model (V.A.R. model), using quarterly time-series data from 2000(1) to 2012(4). The results confirm the existence of a stable co-integrated relationship between variables in the long term. A short-term relationship was also proved between foreign direct investment in tourism and gross value added, using the Toda-Yamamoto causality test. By including control variables, the two-way causality between the subject variables was proven using the Granger causality test.

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Section: Review Of Literaturementioning

confidence: 99%

Tourism foreign direct investment led tourism gross value added: a co-integration and causality analysis of Croatian tourism

Bezić

Radić

2017

Economic Research-Ekonomska Istraživanja

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“…Sampayo and Vale studied the European economy for the 1988-2010 period using cointegration analysis and they have concluded that the effect of the tourism revenue on the economic growth is larger for the northern countries [26]. Paudyal investigated the Nepalese economy for the period of 1975-2010 utilizing least squares approach and have shown that there is a bidirectional causality relationship between the tourism revenue and the economic growth [27].…”

Section: Investigation Of the Relationship Between The Tourism Revenu...mentioning

confidence: 99%

Investigation of the Relationship Between the Tourism Revenue and the Economic Growth for Türkiye: A Relative Sensitivity Analysis Approach

Tuncsiper¹

2023

JEFMS

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Tourism revenue is an important income component of the Turkish economy since the tourism revenue of Türkiye is ranked among the first fifteen countries in the World. Therefore, the analysis of the effects of tourism revenue of Türkiye on its economic stance is an active research area. This paper investigates the impact of the tourism revenue of Türkiye on the economic growth for the period of 2003-2022 using quarterly data. The causality relationship between the tourism revenue and the economic growth is ssanalysed as the first step employing the Granger causality tests. Then, the relative sensitivity of the economic growth dependent on the tourism income is computed in Python programming language. The result of the relative sensitivity analysis shows that the 1% increment in the tourism revenue leads to the 0.12% increment of the economic growth. The presented method can be applied for the analysis of the effect of the tourism revenue on the economic growth also for other countries.

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“…Generally, tourism generates significant positive impacts on economic growth (see, e.g. Cárdenas-Garcia et al, 2015; Dritsakis, 2004; Fayissa et al, 2009; Mello-Sampayo and Sousa-Vale, 2012; Narayan et al, 2010; Nowak et al, 2007; Sequeira and Nunes, 2008; Tang and Abosedra, 2014; Tang and Tan, 2015). However, in what concerns to the direction of causality between growth and tourism, consensus is far from being reached (see, e.g.…”

Section: Literature Reviewmentioning

confidence: 99%

Do tourism spillovers matter in regional economic analysis? An application to Portugal

2015

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This study estimates tourism’s effects on economic performance at the national and regional levels, accounting explicitly for the existence of regional spillovers. The results suggest that there are important regional spillover effects on output, employment, and investment, respectively, and regions benefit differently from tourism located in the region and tourism located elsewhere in the country. The geographical pattern that emerges from the results is that the direct effects are more important in the central regions, while spillovers are more important in the northern and southern regions, the latter being one of the most important touristic regions in the country.

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Tourism and Growth in European Countries: Model Specification and Panel Data Analysis

Cited by 6 publications

References 20 publications

Tourism foreign direct investment led tourism gross value added: a co-integration and causality analysis of Croatian tourism

Tourism foreign direct investment led tourism gross value added: a co-integration and causality analysis of Croatian tourism

Investigation of the Relationship Between the Tourism Revenue and the Economic Growth for Türkiye: A Relative Sensitivity Analysis Approach

Do tourism spillovers matter in regional economic analysis? An application to Portugal

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