Please use this identifier to cite or link to this item: http://hdl.handle.net/10553/47027
Title: Tourism and trade in OECD countries: a dynamic heterogeneous panel data analysis
Authors: Santana Gallego,Maria 
Ledesma Rodríguez,Francisco 
Pérez Rodríguez, Jorge Vicente 
UNESCO Clasification: 531290 Economía sectorial: turismo
Keywords: Tourism flows
International trade
Cointegration
Panel data
Causality
Issue Date: 2011
Journal: Empirical Economics 
Abstract: This article studies the empirical link between international tourism and trade. We apply dynamic heterogeneous panel data techniques to analyse both long and short-run relationship for the case study of OECD countries. This link is studied by estimating the cointegration vector and analysing the short causality between variables. The analysis recognises that inbound tourism can promote international trade and also that international flow of goods requires and may encourage tourist arrivals and departures. The statistical significance of this link supports the presence of business opportunities due to the potential complementary relationship between tourism and trade. The results suggest a short-run nexus between tourism and trade, and that these variables are cointegrated.
URI: http://hdl.handle.net/10553/47027
ISSN: 0377-7332
DOI: 10.1007/s00181-011-0477-9
Source: Empirical Economics [ISSN 0377-7332], v. 41, p. 533-554
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