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On the impact of the euro on international tourism

Maria Santana Gallego (), Jorge Pérez-Rodríguez () and Francisco Ledesma ()

No 50, DEA Working Papers from Universitat de les Illes Balears, Departament d'Economía Aplicada

Abstract: This paper studies the effect of the inception of the euro on the international tourism of the Eurozone. To do this, a gravity model is estimated using two different samples, the OECD countries and the European OECD countries, over the period 1995-2008. The results suggest a noticeable impact of the euro on tourism, bigger than estimated in previous research. However, evidence of tourism diversion is found. The estimates also indicate a greater impact of the introduction of coins and notes in 2002 than the effect of the irrevocable fixing of conversion rates in 1999. Furthermore, the results show that the euro effect on tourism could have been anticipated during earlier stages of the EMU.

Keywords: currency unions; euro effect; panel data; international tourist arrivals (search for similar items in EconPapers)
JEL-codes: F10 F15 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec, nep-eur and nep-tur
Date: 2012
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