 Examining tourism-led growth hypothesis for IndiaSajal Ghosh () International Journal of Indian Culture and Business Management, 2011, vol. 4, issue 3, 347-355 Abstract: The impact of international tourism on a country's economic growth has attracted a great deal of attention among economists and policy makers. This study probes tourism-led growth (TLG) hypothesis for India employing bounds test and Johansen approaches of cointegration using annual data for the time span from 1980 to 2006 in a multivariate framework. Empirical results reveal the absence of a long-term equilibrium relationship between international tourist arrivals and economic activity in India. It also fails to establish any short-run relationship between international tourist arrivals and economic growth in an unrestricted vector autoregression framework. Thus, this study rejects TLG hypothesis for India. Keywords: cointegration; ARDL; autoregressive distributed lag; economic growth; real exchange rates; international tourism; tourism-led growth; bounds test; Soren Johansen; annual data; time spans; multivariate frameworks; long-term relationships; equilibrium relationships; tourist arrivals; economic activity; short-run relationships; unrestricted vectors; autoregression frameworks; India; Indian culture; business management. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijicbm:v:4:y:2011:i:3:p:347-355 Access Statistics for this article More articles in International Journal of Indian Culture and Business Management from Inderscience Enterprises Ltd |
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