Tourism–growth nexus and spatial spillovers: Evidence from Greece

2018 ◽  
Vol 25 (2) ◽  
pp. 297-302 ◽  
Author(s):  
Konstantinos Eleftheriou ◽  
Evangelos Sambracos
Keyword(s):  
Economic Growth ◽  
Tourism Development ◽  
Spillover Effects ◽  
Spatial Panel ◽  
Spatial Spillovers ◽  
Regional Tourism ◽  
Long Run ◽  
National Economic ◽  
Key Factor ◽  
Short Run

In this research note, we reconsider the tourism–growth nexus by accounting for spillover effects between regional tourism development and regional economic growth. For this purpose, we utilize spatial panel econometric techniques to measure the above effects in 49 Greek prefectures during the period 2010–2014. Our findings indicate strong short-run and long-run spillover effects, suggesting that policymakers should consider regional tourism development as a key factor for boosting national economic growth.

scholarly journals Tourism And Economic Growth In Kenya: An Empirical Investigation

2012 ◽  
Vol 11 (5) ◽  
pp. 517 ◽  
Author(s):  
Obadiah N. Kibara ◽  
Nicholas M. Odhiambo ◽  
Josephine M. Njuguna
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Tourism Development ◽  
Series Data ◽  
Bounds Testing ◽  
Critical Question ◽  
Dynamic Relationship ◽  
Long Run ◽  
Short Run ◽  
Annual Time Series

In this study, we examine the dynamic relationship between tourism sector development and economic growth using annual time-series data from Kenya. The study attempts to answer one critical question - Is tourism development in Kenya pro-growth? The study uses an ARDL-bounds testing approach to examine these linkages and also incorporates trade as an intermittent variable between tourism development and economic growth in a multivariate setting. The results of our study show that there is a uni-directional causality from tourism development to economic growth. The results are found to hold irrespective of whether the causality is estimated in the short run and long run. Other results show that international tourism Granger-causes trade, while trade Granger-causes economic growth in Kenya in both the short and the long run.

scholarly journals Is Tourism a Key Factor for Economic Growth? Fresh Evidence from South Europe Using Panel Cointegration and PVAR Analyses

2020 ◽  
Vol 6 (2) ◽  
pp. 123-138
Author(s):  
Ioannis Kostakis
Keyword(s):  
Economic Growth ◽  
Causal Relationship ◽  
Labour Force ◽  
Panel Cointegration ◽  
Physical Capital ◽  
Impulse Response Functions ◽  
Long Run ◽  
Fixed Capital Formation ◽  
Key Factor ◽  
Short Run

This paper brings fresh empirical evidence on the relationship between tourism and economic growth for five South European countries over the period 2000Q1-2018Q4 within a multivariate framework. PVAR and panel cointegration analyses are employed to infer the causal relationship between tourism and economic growth. Heterogeneous panel cointegration test reveals a long-run relationship between real GDP, labour force, gross fixed capital formation and tourism. Granger causality validates the bidirectional and unidirectional causal relationship between tourism, labour and economic growth and physical capital and economic growth, respectively. Simultaneously, impulse-response functions of PVAR model highlight the fact that short-run innovations might have a smaller impact on economic growth against a permanent long-run augmentation of these variables. Our findings might leave ample room for government policies to stimulate strategies for higher economic growth.

Is tourism pro-poor in India? An empirical investigation using ARDL approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Manu Sharma ◽  
Geetilaxmi Mohapatra ◽  
Arun Kumar Giri
Keyword(s):  
Economic Growth ◽  
Poverty Reduction ◽  
Tourism Development ◽  
Annual Data ◽  
Critical Question ◽  
Causality Test ◽  
Content Type ◽  
Long Run ◽  
Tourism Sector ◽  
Short Run

PurposeThe purpose of this paper is to examine the relationship between tourism sector development and poverty reduction in India using annual data from 1970 to 2018. The paper attempts to answer the critical question: Is tourism pro-poor in India?Design/methodology/approachStationarity properties of the series are checked by using the ADF unit root test. The paper uses the Auto Regressive Distributed Lag (ARDL) bound testing approach to cointegration to examine the existence of long-run relationships; error-correction mechanism for the short-run dynamics, and Granger non-causality test to test the direction of causality.FindingsThe cointegration test confirms a long-run relationship between tourism development and poverty reduction for India. The ARDL test results suggest that tourism development and economic growth reduces poverty in both the long run and the short run. Furthermore, inflation had a negative and significant short-run impact on the poverty reduction variable. The causality test confirms that there is a positive and unidirectional causality running from tourism development to poverty reduction confirming that tourism development is pro-poor in India.Research limitations/implicationsThis study implies that poverty in India can be reduced by tourism sector growth and price stability. For a fast-growing economy with respect to economic growth and tourism sector growth, this may have far-reaching implications toward inclusive growth in India.Originality/valueThis paper is the first of its kind to empirically examine the causal relationship between tourism sector development and poverty reduction in India using modern econometric techniques.

Electricity consumption and economic growth in ASEAN

2017 ◽  
Vol 5 (2) ◽  
pp. 16
Author(s):  
Ahmad Ghazali Ismail ◽  
Arlinah Abd Rashid ◽  
Azlina Hanif
Keyword(s):  
Economic Growth ◽  
Energy Use ◽  
Electricity Consumption ◽  
Panel Estimation ◽  
Real Gdp ◽  
Long Run ◽  
Bidirectional Relationship ◽  
Short Run ◽  
Using Data ◽  
The Relationship

The relationship and causality direction between electricity consumption and economic growth is an important issue in the fields of energy economics and policies towards energy use. Extensive literatures has discussed the issue, but the array of findings provides anything but consensus on either the existence of relations or direction of causality between the variables. This study extends research in this area by studying the long-run and causal relations between economic growth, electricity consumption, labour and capital based on the neo-classical one sector aggregate production technology mode using data of electricity consumption and real GDP for ASEAN from the year 1983 to 2012. The analysis is conducted using advanced panel estimation approaches and found no causality in the short run while in the long-run, the results indicate that there are bidirectional relationship among variables. This study provides supplementary evidences of relationship between electricity consumption and economic growth in ASEAN.

ANALISIS PENGARUH EKSPOR TERHADAP PERTUMBUHAN EKONOMI INDONESIA

2017 ◽  
Vol 11 (1) ◽  
pp. 1-20
Author(s):  
Ari Mulianta Ginting
Keyword(s):  
Economic Growth ◽  
Export Performance ◽  
Descriptive Analysis ◽  
Correction Model ◽  
Administration System ◽  
Long Run ◽  
Short Run ◽  
Available Information ◽  
Increasing Trends ◽  
The Relationship

Ekspor merupakan salah satu faktor terjadinya peningkatan pertumbuhan ekonomi suatu negara, sejalan dengan hipotesis export-led growth (ELG). Penelitian ini menganalisis perkembangan ekspor dan pertumbuhan ekonomi Indonesia periode kuartal I 2001 sampai dengan kuartal IV 2015. Penelitian ini menggunakan analisis deskriptif dalam menggambarkan perkembangan pertumbuhan ekonomi serta ekspor dan analisis kuantitatif metode Error Correction Model (ECM) dalam menganalisis efek jangka panjang dan jangka pendek dari ekspor terhadap pertumbuhan ekonomi. Pada periode penelitian, data yang ada menunjukkan bahwa ekspor dan pertumbuhan ekonomi Indonesia sama-sama mengalami peningkatan. Hasil regresi ECM menunjukkan bahwa ekspor memiliki pengaruh yang positif dan signifikan secara statistik terhadap pertumbuhan ekonomi Indonesia, yang mendukung hipotesis bahwa ELG berlaku untuk Indonesia. Berdasarkan hasil penelitian ini, maka untuk mendorong pertumbuhan ekonomi Indonesia diperlukan peningkatan kinerja ekspor Indonesia. Peningkatan kinerja ekspor Indonesia dapat dilakukan dengan berbagai cara, salah satunya adalah dengan perbaikan sistem administrasi ekspor, peningkatan riset dan pengembangan produk Indonesia, peningkatan sarana dan prasarana infrastruktur, stabilitas nilai tukar dan perluasan pasar non tradisional, termasuk perbaikan struktur ekspor komoditas. Export is one of the factors behind the economic growth which is in line with the export-led growth hypotesis (ELG). This research analyzes the relationship between economic growth and export of Indonesia during first quarter of 2001 until fourth quarter of 2015. It employs descriptive analysis to describe export movement and economic growth during the study period and ECM model to analyze the long run and the short run effects of export on the economic growth. The available information indicated that, during the study period, both export and economic growth showed similar increasing trends. The result of the ECM model revealed that export had a positive and statistically significant relationship with the economic growth, supporting the hypotesis of ELG in Indonesia. Hence, to accelerate economic growth, efforts are required to boost the export performance in Indonesia. The Export performance can be increased by several way, such as improving the export administration system, increasing the research and development of Indonesian products, improving the facilities and infrastructure, exchange rate stability and the non-tradisional markets expansion, and including improvement of the export commodity structure.

scholarly journals Economic Development, CO2 Emissions and Energy Use Nexus-Evidence from the Danube Region Countries

Energies ◽  
2021 ◽  
Vol 14 (11) ◽  
pp. 3165
Author(s):  
Eva Litavcová ◽  
Jana Chovancová
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Carbon Emissions ◽  
Bounds Testing ◽  
Mutual Cooperation ◽  
Long Run ◽  
Short Run ◽  
Danube Region ◽  
The Impact

The aim of this study is to examine the empirical cointegration, long-run and short-run dynamics and causal relationships between carbon emissions, energy consumption and economic growth in 14 Danube region countries over the period of 1990–2019. The autoregressive distributed lag (ARDL) bounds testing methodology was applied for each of the examined variables as a dependent variable. Limited by the length of the time series, we excluded two countries from the analysis and obtained valid results for the others for 26 of 36 ARDL models. The ARDL bounds reliably confirmed long-run cointegration between carbon emissions, energy consumption and economic growth in Austria, Czechia, Slovakia, and Slovenia. Economic growth and energy consumption have a significant impact on carbon emissions in the long-run in all of these four countries; in the short-run, the impact of economic growth is significant in Austria. Likewise, when examining cointegration between energy consumption, carbon emissions, and economic growth in the short-run, a significant contribution of CO2 emissions on energy consumptions for seven countries was found as a result of nine valid models. The results contribute to the information base essential for making responsible and informed decisions by policymakers and other stakeholders in individual countries. Moreover, they can serve as a platform for mutual cooperation and cohesion among countries in this region.

Effects of tourism development on economic growth: An empirical study of China based on both static and dynamic spatial Durbin models

2021 ◽  
pp. 135481662110211
Author(s):  
Honghong Liu ◽  
Ye Xiao ◽  
Bin Wang ◽  
Dianting Wu
Keyword(s):  
Economic Growth ◽  
Spillover Effect ◽  
Tourism Development ◽  
Spillover Effects ◽  
Policy Implications ◽  
Long Term Effects ◽  
Spatial Spillover ◽  
Domestic Tourism ◽  
Inbound Tourism ◽  
Spatial Spillover Effect

This study applies the dynamic spatial Durbin model (SDM) to explore the direct and spillover effects of tourism development on economic growth from the perspective of domestic and inbound tourism. The results are compared with those from the static SDM. The results support the tourism-led-economic-growth hypothesis in China. Specifically, domestic tourism and inbound tourism play a significant role in stimulating local economic growth. However, the spatial spillover effect is limited to domestic tourism, and the spatial spillover effect of inbound tourism is not significant. Furthermore, the long-term effects are much greater than the short-term impact for both domestic and inbound tourism. Plausible explanations of these results are provided and policy implications are drawn.

Fish Exports and Economic Growth: The Pakistan’s Experience

2019 ◽  
Vol 20 (2) ◽  
pp. 279-296 ◽  
Author(s):  
Syed Tehseen Jawaid ◽  
Mohammad Haris Siddiqui ◽  
Zeeshan Atiq ◽  
Usman Azhar
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Positive Impact ◽  
Impulse Response Function ◽  
Policy Implications ◽  
Sensitivity Analyses ◽  
Series Data ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

This study attempts to explore first time ever the relationship between fish exports and economic growth of Pakistan by employing annual time series data for the period 1974–2013. Autoregressive distributed lag and Johansen and Juselius cointegration results confirm the existence of a positive long-run relationship among the variables. Further, the error correction model reveals that no immediate or short-run relationship exists between fish exports and economic growth. Different sensitivity analyses indicate that initial results are robust. Rolling window analysis has been applied to identify the yearly behaviour of fish exports, and it remains negative from 1979 to 1982, 1984 to 1988, 1993 to 1999, 2004 and from 2010 to 2013, and it shows positive impact from 1989 to 1992, 2000 to 2003 and from 2005 to 2009. Furthermore, the variance decomposition method and impulse response function suggest the bidirectional causal relationship between fish exports and economic growth. The findings are beneficial for policymakers in the area of export planning. This study also provides some policy implications in the final section.

Enhancing Economic Growth and Government Revenue Generation in Nigeria: The Role of Diaspora Remittances

2021 ◽  
pp. 003464462110256
Author(s):  
Dal Didia ◽  
Suleiman Tahir
Keyword(s):  
Economic Growth ◽  
Parameter Estimates ◽  
Gross Domestic Product Growth ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
The Empirical Analysis

Even though remittances constitute the second-largest source of foreign exchange for Nigeria, with a $24 billion inflow in 2018, its impact on economic growth remains unclear. This study, therefore, examined the short-run and long-run impact of remittances on the economic growth of Nigeria using the vector error correction model. Utilizing World Bank data covering 1990–2018, the empirical analysis revealed that remittances hurt economic growth in the short run while having no impact on economic growth in the long run. Our parameter estimates indicate that a 1% increase in remittances would result in a 0.9% decrease in the gross domestic product growth rate in the short run. One policy implication of this study is that Nigeria needs to devise policies and interventions that minimize the emigration of skilled professionals rather than depending on remittances that do not offset the losses to the economy due to brain drain.

Military Expenditures and Economic Growth in Central and Eastern EU Countries: Evidence from the Post-Cold War Era

2017 ◽  
Vol 25 (3) ◽  
pp. 453-462 ◽  
Author(s):  
Mert Topcu ◽  
İlhan Aras
Keyword(s):  
Economic Growth ◽  
Panel Cointegration ◽  
Eastern European ◽  
The European Union ◽  
New Members ◽  
Post Cold War ◽  
Long Run ◽  
Short Run ◽  
Military Expenditures ◽  
Eastern European Countries

Although the relationship between military expenditures and economic growth is well documented for the old members of the European Union, empirically little is known for the new members. Thus, the goal of this paper is to investigate the economic impact of military expenditures in Central and Eastern European countries employing panel cointegration and causality methods for the period 1993–2013. Findings indicate that the variables in question do not move together in the long run and the direction of causality in the short run is from economic growth to military expenditures. The implications of the results for international relations are discussed.

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