Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/45563
標題: Tourism development and economic growth: A closer look at panels
作者: Lee, C.C.
李建強
Chang, C.P.
關鍵字: tourism development
GDP
panel cointegration
panel causality
finite-sample properties
cointegration tests
unit-root
heterogeneous
panels
developing-countries
energy-consumption
long-run
attitudes
期刊/報告no:: Tourism Management, Volume 29, Issue 1, Page(s) 180-192.
摘要: This paper applies the new heterogeneous panel cointegration technique to re-investigate the long-run comovements and causal relationships between tourism development and economic growth for OECD and nonOECD countries (including those in Asia, Latin America and Sub-Sahara Africa) for the 1990-2002 period. On the global scale, after allowing for the heterogeneous country effect, a cointegrated relationship between GDP and tourism development is substantiated. It is also determined that tourism development has a greater impact on GDP in nonOECD countries than in OECD countries, and when the variable is tourism receipts, the greatest impact is in Sub-Sahara African countries. Additionally, the real effective exchange rate has significant effects on economic growth. Finally, in the long run, the panel causality test shows unidirectional causality relationships from tourism development to economic growth in OECD countries, bidirectional relationships in nonOECD countries, but only weak relationships in Asia. Our empirical findings have major policy implications. (C) 2007 Elsevier Ltd. All rights reserved.
URI: http://hdl.handle.net/11455/45563
ISSN: 0261-5177
文章連結: http://dx.doi.org/10.1016/j.tourman.2007.02.013
Appears in Collections:應用經濟學系

文件中的檔案:

取得全文請前往華藝線上圖書館



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.