Tourism-led growth hypothesis

Andrey Aistov and Tatiana Nikolaeva ()
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Tatiana Nikolaeva: National Research University Higher School of Economics, Nizhny Novgorod, Russian Federation

Applied Econometrics, 2019, vol. 56, 5-24

Abstract: The paper contributes to empirical evidence of tourism-led growth (TLG) hypothesis. The research is based on a balanced panel data for 116 countries from the World Bank, 1995–2017. International tourism receipts, its share in GDP, and annual number of international tourist arrivals per capita are used as indicators of countries’ specialization on tourism. Granger (non) causality test as long as autoregressive distributed lags models with heterogeneous parameters and control for cross-sectional dependence are in line with the TLG-hypothesis.

Keywords: tourism; GDP; Granger causality; panel data (search for similar items in EconPapers)
JEL-codes: C23 L83 O47 (search for similar items in EconPapers)
Date: 2019
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