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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/4419

Title: Tourism and growth in european countries : an application of likelihood-based panel cointegration
Authors: Mello-Sampayo, Felipa de
Sousa-Vale, Sofia de
Keywords: Tourism
Economic growth
Rank tests
Panel unit root tests
Panel cointegration
Issue Date: 2012
Publisher: ISEG - Departamento de Economia
Citation: Mello-Sampayo, Felipa de e Sofia de Sousa-Vale. 2012. "Tourism and growth in european countries : an application of likelihood-based panel cointegration". Instituto Superior de Economia e Gestão - DE working papers nº17-2012/DE
Series/Report no.: DE working papers;nº17/2012/DE
Abstract: This paper applies likelihood-based panel cointegration techniques to examine the exis- tence of a long run relationship between GDP, tourism earnings per tourist and total trade volume for a panel of European countries over the period 1988{2010. Removing the cross dependency, our panel tourism-led growth model indicates that tourism development has a higher impact on GDP in the North than in South European countries. The policy implication of this result is that for this group of countries, the best strategy is to raise tourism receipts. Furthermore, the volume of trade shows a significant and much more stronger effect on the long run economic growth in our sample economies than tourism does.
URI: http://hdl.handle.net/10400.5/4419
ISSN: 0874-4548
Publisher version: https://aquila.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=272201&contentContextPath_PATH=/departamentos/ec/lateral/menu-working-papers/nova-serie/2012&_request_checksum_=da4e037f824b4e96a71244ee9630e9560c0bca3c
Appears in Collections:DE - Documentos de trabalho / Working Papers

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