Tourism and Economic Growth: A Panel Data Analysis for Pacific Island Countries

Autor:	Seema Narayan, Paresh Kumar Narayan, Arti Prasad, Biman Chand Prasad
Rok vydání:	2010
Předmět:	Short run Cointegration Real gross domestic product Agriculture business.industry Tourism Leisure and Hospitality Management Geography Planning and Development Development economics Economics New guinea business Tourism Panel data
Zdroj:	Tourism Economics. 16:169-183
ISSN:	2044-0375 1354-8166
Popis:	The contribution of tourism to the economic growth of Pacific Island countries (PICs) has achieved significance in the past decade. The shift in the economic policies of the PICs from the late 1980s has been decisively away from import substitution and agriculture to urban-based manufacturing and services sectors. Tourism is the main component of the services sector in the PICs. The contribution of tourism to economic growth in Fiji, Tonga, the Solomon Islands and Papua New Guinea is expected to grow. The authors use panel data for the four PICs to test the long-run relationship between real GDP and real tourism exports. They find support for panel cointegration and the results suggest that a 1% increase in tourism exports increases GDP by 0.72% in the long run and by 0.24% in the short run.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::6f16c6c21031f5c13faa3262eb1c6e7c https://doi.org/10.5367/000000010790872006 Zobrazit plný text záznamu