Is the tourism-led growth hypothesis valid after the global economic and financial crisis? The case of Spain 1957–2014
José Francisco Perles-Ribes,
Ana Belén Ramón-Rodríguez,
Antonio Rubia and
Luis Moreno-Izquierdo
Authors registered in the RePEc Author Service: José Francisco Perles Ribes
Tourism Management, 2017, vol. 61, issue C, 96-109
Abstract:
Since the first paper on the subject was published in 2002, the tourism-led growth hypothesis (TLGH) has constituted one of the most predominant topics in tourism literature. Spain is a leading country in the tourism industry and one where this hypothesis has been tested with several studies confirming the relationship between Spain's tourism development and its economic growth. However, the existing studies for Spain do not take into account recent turbulences such as the Global Financial and Economic Crisis and the Arab Spring uprisings that have shocked tourism markets. This paper re-examines the TLGH for the Spanish case in the light of these events in order to investigate the robustness of the relationship between tourism and economic growth.
Keywords: Tourism-led growth hypothesis; Spain; Granger causality; Bounds testing; Toda-Yamamoto procedure (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (28)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:touman:v:61:y:2017:i:c:p:96-109
DOI: 10.1016/j.tourman.2017.01.003
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