Abstract: International tourism is a major foreign exchange earner and a principal export for many low income countries as well as for developed countries. Nowadays many developing countries focus on economic policie s for promoting international tourism as a potential source of economic growth of the country. However, the understanding of the relationship between exports and economic growth is still ongoing and, while cross-section studies support the hypothesis that exports promote growth, time series studies have been less conclusive. 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, the main developed countries in the Mediterranean area and impor tant countries regarding the expansion of tourism. Cointegration techniques and the multiv ariate 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 long run

Tourism and growth: Evidence for Spain and Italy / Cortes Jimenez, I; Pulina, Manuela. - (2006), pp. 1-23.

Tourism and growth: Evidence for Spain and Italy

PULINA, Manuela
2006-01-01

Abstract

Abstract: International tourism is a major foreign exchange earner and a principal export for many low income countries as well as for developed countries. Nowadays many developing countries focus on economic policie s for promoting international tourism as a potential source of economic growth of the country. However, the understanding of the relationship between exports and economic growth is still ongoing and, while cross-section studies support the hypothesis that exports promote growth, time series studies have been less conclusive. 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, the main developed countries in the Mediterranean area and impor tant countries regarding the expansion of tourism. Cointegration techniques and the multiv ariate 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 long run
2006
Tourism and growth: Evidence for Spain and Italy / Cortes Jimenez, I; Pulina, Manuela. - (2006), pp. 1-23.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11388/88559
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