Economic Growth and Tourism Demand in Croatia: the Cyclical Component Analysis
Tonći Svilokos Meri Šuman Tolić Ivana Pavlić
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Tonći Svilokos Meri Šuman Tolić Ivana Pavlić: University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia
Authors registered in the RePEc Author Service: Tonci Svilokos,
Meri Šuman Tolić () and
Zagreb International Review of Economics and Business, 2014, vol. 17, issue Special Conference Issue, 65-80
Development of tourism has often been considered as a positive contributor to economic growth. The impact of tourism to a country economy is multifaceted. As such, tourism may represent an excellent tool for development. This paper presents preliminary findings using descriptive statistics and spectral analysis. Therefore, the main purpose of this research is to examine the relationship between the cyclical components of Croatian economy for periods 1972-2013. Using spectral analysis the authors compare the cyclical fluctuations of gross domestic product (GDP) and total tourist arrivals. VAR analysis is also applied in order to detect the relationship between analysed cyclical components in Croatia. JEL Classification: E42, L83, E27, O40, C22
Keywords: tourist arrivals; economic growth; cycle components; VAR; Croatia (search for similar items in EconPapers)
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