Please use this identifier to cite or link to this item:
Title: Testing the validity of the tourism-led growth hypothesis under long-range dependence
Authors: Pérez Rodríguez, Jorge Vicente 
Rachinger, Heiko
Santana Gallego,Maria 
Keywords: Fractional Integration
Modelos matemáticos
Issue Date: 2021
Journal: Current Issues in Tourism 
Abstract: Traditionally, the relationship between tourism and economic growth has been studied using methods based on stationary or nonstationary models. In this paper, we explore the validity of the tourism-led growth hypothesis, applying fractional cointegration techniques and comparing the results with those obtained in previous studies. To do this, we study the long-run relationship between GDP and tourism series, using a two-step strategy. First, we apply fractional cointegration methods and then we test the null hypothesis of no cointegration against alternatives which are fractionally cointegrated. For the empirical analysis, we use seasonally adjusted quarterly data for GDP and tourist arrivals for seven European countries from 1990 to 2018. In the empirical exercise, evidence of cointegration is found only in very restricted cases. Therefore, the validity of the TLGH is less clear-cut when this methodology is applied.
ISSN: 1368-3500
Source: Current Issues in Tourism[ISSN 1368-3500], v. 24(6), p. 768-793
Appears in Collections:Artículos
Show full item record


checked on Mar 19, 2023

Page view(s)

checked on Mar 4, 2023

Google ScholarTM



Export metadata

Items in accedaCRIS are protected by copyright, with all rights reserved, unless otherwise indicated.