Does tourism cause growth asymmetrically in a panel of G-7 countries? A short note
Abdulnasser Hatemi-J (),
Rangan Gupta (),
Thabo Mboweni and
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Axel Kasongo: University of Pretoria
Thabo Mboweni: University of Pretoria
Ndivhuho Netshitenzhe: University of Pretoria
Empirica, 2018, vol. 45, issue 1, 49-57
Abstract We analyse whether tourism (measured by real tourism receipts) causes growth in an asymmetric fashion in a panel of G-7 countries over the period of 1995–2014. Our results reveal that the tourism-led growth hypothesis holds for France, Germany, and the US, with negative tourism shocks being more important for Germany, Italy, Japan, while positive shocks are more important in UK and the US. Our results imply that, policy makers in Germany, Italy and Japan should be more concerned when tourism receipts decline.
Keywords: Economic growth; Tourism receipts; Asymmetric panel causality test (search for similar items in EconPapers)
JEL-codes: C32 E43 L83 (search for similar items in EconPapers)
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