A further step into the ELGH and TLGH for Spain and Italy

Isabel Cortés_Jiménez and Manuela Pulina
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Isabel Cortés_Jiménez: Universitat de Barcelona

No 2006.118, Working Papers from Fondazione Eni Enrico Mattei

Abstract: Nowadays many developing countries focus on economic policies for promoting international tourism and exports expansion as a potential source of economic growth of the country. However, the understanding of the relationship between exports and economic growth is still ongoing. When treating the relationship between tourism and economic growth, considering tourism as a non-traditional export few studies have been published to date. This paper has the objective to assess if exports and tourism have really promoted growth by means of the export-led growth hypothesis (ELGH) and the tourism-led growth hypothesis (TLGH). The cases under analysis are Spain and Italy, two of the most important countries worldwide regarding the expansion of tourism. Cointegration techniques and the multivariate Granger causality test are applied. Results reveal that exports cause economic growth in the long-term for both countries, whilst only for Spain tourism appears as a factor which influences economic growth in the lon-run.

Keywords: Economic Growth; Exports; Tourism; Cointegration; Multivariate Granger Causality; Spain; Italy (search for similar items in EconPapers)
JEL-codes: C32 L83 O49 (search for similar items in EconPapers)
Date: 2006-09
New Economics Papers: this item is included in nep-eec, nep-int and nep-tur
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Citations: View citations in EconPapers (13)

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Working Paper: A further step into the ELGH and TLGH for Spain and Italy (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2006.118

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