Tourism‐led Growth Revisited for Spain: Causality, Business Cycles and Structural Breaks

Merida, Adrian Luis; Golpe, Antonio A.

doi:10.1002/jtr.2031

Cited by 59 publications

(49 citation statements)

References 49 publications

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“…In order to validate the set hypotheses, the acquired data vector is analyzed by using statistical and econometric methods (Kivedal, 2014;Merida & Golpe, 2016). First, we present unit root test (Gozgor & Ongan, 2016), STAR test, followed by the Granger causality test.…”

Section: Resultsmentioning

confidence: 99%

“…There are several studies that analyzed economic growth (Pavlić et al, 2015;Massidda & Mattana 2013;Merida & Golpe, 2016), and tourism development. However, there are rare studies to investigate the causality nature between a set of economic variables in the hospitality industry with econometric modeling (Brida et al, 2015).…”

Section: Methods and Datamentioning

confidence: 99%

“…Granger causality test may have nonstandard asymptotic properties if the variables considered in the VAR model are integrated or cointegrated (Merida & Golpe, 2016;Po & Huang, 2008). However, there is a proposed solution based on the coefficients of cointegrated VAR processes with I(1) variables if at least one coefficient matrix is unrestricted under the null hypothesis (Juselius, 2015).…”

Section: Methods and Datamentioning

confidence: 99%

“…This is followed by a section focusing on data and applied methods of multivariate statistical techniques with a complex set of variables with simultaneous influences. We applied the Granger causality method (Brida et al, 2015;Castro-Nuño, Molina-Toucedo, & Pablo-Romero, 2013;Diks & Panchenko, 2006), vector autoregressive model (VAR) in a cointegration framework (Kumar & Stauvermann, 2016;Merida & Golpe, 2016) and STAR. Following the previous section, we present the empirical results along with their discussion and implications.…”

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confidence: 99%

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Tourism price causalities: Case of an Adriatic country

Gričar

Bojnec

2017

Journal of Tourism Research

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The aim of this article is to investigate the linearities and causalities between Slovenian tourism and macroeconomic aggregates. The monthly time-series data for the drivers of the rise in the Slovenian hospitality industry prices are tested in the vector autoregressive framework and smooth transition autoregressive model during the 3 specific subperiods. The results are robust for the applied linear methods on prices and value-added tax sensitive tourist demand and for the applied nonlinear methods on exchange rate and labor costs. Granger causality tests confirmed 5 correlations in the set of 3 hypotheses. Input costs are significant drivers for the rise of the Slovenian hospitality industry prices.

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Section: Resultsmentioning

confidence: 99%

Section: Methods and Datamentioning

confidence: 99%

Section: Methods and Datamentioning

confidence: 99%

mentioning

confidence: 99%

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Tourism price causalities: Case of an Adriatic country

Gričar

Bojnec

2017

Journal of Tourism Research

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“…Yang & Cai, 2016), price competitiveness (Tkalec & Vizek, 2016), destination image (Ryu, L'Espoir Decosta, & Andéhn, 2016), climate and seasonality (Razumova, Rey-Maquieira, & Lozano, 2016;Scott, Simpson, & Sim, 2012), destination resources (Hadjikakou, Miller, Chenoweth, Druckman, & Zoumides, 2015;Naidoo & Sharpley, 2016;Ram, Björk, & Weidenfeld, 2016), tourism demand (Brida, Disegna, & Osti, 2013;Merida & Golpe, 2016;Naef & Ploner, 2016;Y. Yang, Liu, & Li, 2015), regional innovativeness (Božić & Rajh, 2016), economic policy (Coles, Dinan, & Hutchison, 2014;G.…”

Section: Literature Reviewmentioning

confidence: 99%

Differences in perception of the importance of generic competencies among destination regions

Vučetić

2018

Economic Research-Ekonomska Istraživanja

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This paper focuses on establishing the level of the gap in the perception of the importance of generic competencies among respondents from different regions within a tourism destination in transition. Montenegro and its tourism sector are taken as an example, with its three geographical regions: coastal, central and northern region. The research is based on a survey of respondents (employees in the tourism sector and students on internship) in hotels, travel agencies, tourism organisations, museums, national parks, ports of nautical tourism and business units of airline companies. The study seeks to establish the level of the gap in the perception of the importance of generic competencies of respondents among the aforementioned regions in the destination. In addition to identifying the differences, the study seeks to identify the strength of links between certain aggregate and individual generic competencies, among and within the coastal, central and northern region of Montenegro, a country whose tourism sector is in the transitional process of accession to the European Union. This survey can serve as a good example for future practical and theoretical research in the field of generic competencies and regional affiliation of human resources.

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How important is tourism for growth?

Panagiotidis,

Mussoni,

Voucharas

2023

Int. J Fin Econ

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We revisit the tourism‐led growth hypothesis by utilising a panel set of 108 countries over the period 1996–2017. We quantify the effects of tourism on the entire conditional distribution of economic growth for both relatively poor and relatively rich countries within a panel quantile regression framework. We address the unobserved heterogeneity and potential endogeneity concerns. We reveal that the lower the conditional growth rate a country experiences the more important is tourism development for the conditional growth distribution for both developing and developed countries. The size of the effect in developed countries is twice as high as in developing ones. On the other hand, tourism specialisation is beneficial only at higher quantiles of the conditional growth distribution and only for developed countries. On the contrary, it brings about an undesirable effect in developing countries. Finally, we examine the impact of a reduction in tourism activity on economic growth due to an exogenous shock (i.e., COVID‐19). Simulation analysis based on the quantile regression estimates shows that countries facing relatively low growth rates conditionally to the growth distribution are affected the most. Policymakers may consider the importance of tourism activity in the growth process and formulate strategies that align with the growth experience of each country.

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Tourism‐led Growth Revisited for Spain: Causality, Business Cycles and Structural Breaks

Cited by 59 publications

References 49 publications

Tourism price causalities: Case of an Adriatic country

Tourism price causalities: Case of an Adriatic country

Differences in perception of the importance of generic competencies among destination regions

How important is tourism for growth?

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