A Panel Cointegration Analysis of the Impact of Tourism on Economic Growth: Evidence from the Middle East Region

被引：13
作者：
Saleh, Ali Salman [1 ]
Assaf, A. George [2 ]
Ihalanayake, Ranjith [3 ]
Lung, Sidney [3 ]
机构：
[1] Swinburne Univ Technol, Hawthorn, Vic 3122, Australia
[2] Univ Massachusetts, Isenberg Sch Management, Amherst, MA 01003 USA
[3] Victoria Univ, Sch Accounting & Finance, Footscray, Vic, Australia
来源：
INTERNATIONAL JOURNAL OF TOURISM RESEARCH | 2015年 / 17卷 / 03期
关键词：
tourism; economic growth; panel cointegration; Middle East; CROSS-SECTION; LONG-RUN; UNIT ROOTS; TESTS; REGRESSION; EFFICIENCY; INDUSTRY;
D O I：
10.1002/jtr.1976
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the contribution of tourism industry to the GDP of three selected destinations in the Middle East region: Bahrain, Jordan and Saudi Arabia. We introduce a quadratic functional form and apply the advanced panel cointegration dynamic model with robust estimation to test our hypothesis. Our analysis is based on a comprehensive set of panel data of tourism receipts, education investment, foreign direct investment and fixed capital formation over the period of 1981-2008. The results show a long-run relationship between tourism growth and GDP. We also show that tourism has a stronger impact on the economy than other related sectors. Copyright (c) 2013 John Wiley & Sons, Ltd.
引用
收藏
页码：209 / 220
页数：12
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