Air transport demand and economic growth in Brazil: A time series analysis

Marcial Marazzo, Rafael Scherre and Elton Fernandes

Transportation Research Part E: Logistics and Transportation Review, 2010, vol. 46, issue 2, 261-269

Abstract: We investigate the relationship between air transport demand (passenger-kilometer: PAX) and economic growth (GDP) between 1966 and 2006 in Brazil. Special attention is paid to stationary features and the existence of a long-run equilibrium between variables to work in a vector autoregressive environment. Our findings suggest that GDP and PAX are co-integrated. Impulse-response analysis indicates a strong positive reaction of PAX due to a positive change in GDP. However, GDP reacts to a change in PAX in a slower and moderated way. We interpret these findings as an empirical evidence of air transport multiplier effects in the economy.

Keywords: Air; transport; demand; Time; series; Co-integration; Error; correction; model (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (69)

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