Please use this identifier to cite or link to this item: http://hdl.handle.net/10553/47021
Title: Testing dependence between GDP and tourism's growth rates
Authors: Pérez Rodríguez, Jorge Vicente 
Ledesma Rodríguez,Francisco 
Santana Gallego,Maria 
UNESCO Clasification: 531290 Economía sectorial: turismo
Keywords: Producto interior bruto
PIB
Turismo
Issue Date: 2015
Publisher: 0261-5177
Journal: Tourism Management 
Abstract: The main aim of this paper is to link the economic behaviour and statistical properties of GDP and tourism receipts growth rates through modelling the dependence. To that end, two developed economies such as the United Kingdom (non-tourist oriented) and Spain (tourist-oriented), and an emerging economy such as Croatia (tourist-oriented) are considered as case studies. Therefore, a copula-based GARCH approach is employed to describe the dependence structure between GDP and tourism receipts growth rates. In this respect, any causality and cointegration between tourism and GDP could justify public policies that promote a more efficient public resource allocation in the tourism industry. Additionally, evidence of dependence between growth rates can justify the extent and direction of these policies. Results indicate that there is a significant, asymmetric and positive dependence between tourism and GDP growth rates for the three countries studied, though only for Croatia is it time-varying over time.
URI: http://hdl.handle.net/10553/47021
ISSN: 0261-5177
DOI: 10.1016/j.tourman.2014.11.007
Source: Tourism Management[ISSN 0261-5177],v. 48, p. 268-282
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