An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | , , , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/26206 |
Resumo: | Due to urbanization and the need for people to go from one country to another either for commercial purpose or tourism, it is therefore important to determine the extent to which tourism contributes to growth. This article aims to investigate the tourism-led growth hypothesis in a sample of 34 European countries utilizing the yearly data from 1995 to 2015. The research work makes use of 8 tourism indicators, which cover diferent dimensions of tourism sector development such as foreign visitors’ spending, and international tourist arrival. For empirical analysis, the study accounts key determinants of growth such as capital, labor and energy (renewable and non-renewable) consumption. The results from common correlated efects (CCE) augmented mean group (AMG) and groped-mean estimators confrms that there is a positive relationship between tourism, labour, capital and GDP insinuating the presence of tourism-led growth hypothesis in the European countries. Also, fndings from the FMOLS show that changes in the variables leads to a proportional change in GDP. Specifcally, the evidence shows that the tourism indicators play an indispensable role in promoting economic development, along with energy consumption, capital, and labor. Sustainable Combating environmental issues associated with foreign arrivals, renewable energy consumption should be encouraged to reduce environmental externalities to ensure sustainable environments for businesses and tourists’ arrivals. |
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An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimatorTourismGrowthEuropean countriesEnergy consumptionAMG estimatorDue to urbanization and the need for people to go from one country to another either for commercial purpose or tourism, it is therefore important to determine the extent to which tourism contributes to growth. This article aims to investigate the tourism-led growth hypothesis in a sample of 34 European countries utilizing the yearly data from 1995 to 2015. The research work makes use of 8 tourism indicators, which cover diferent dimensions of tourism sector development such as foreign visitors’ spending, and international tourist arrival. For empirical analysis, the study accounts key determinants of growth such as capital, labor and energy (renewable and non-renewable) consumption. The results from common correlated efects (CCE) augmented mean group (AMG) and groped-mean estimators confrms that there is a positive relationship between tourism, labour, capital and GDP insinuating the presence of tourism-led growth hypothesis in the European countries. Also, fndings from the FMOLS show that changes in the variables leads to a proportional change in GDP. Specifcally, the evidence shows that the tourism indicators play an indispensable role in promoting economic development, along with energy consumption, capital, and labor. Sustainable Combating environmental issues associated with foreign arrivals, renewable energy consumption should be encouraged to reduce environmental externalities to ensure sustainable environments for businesses and tourists’ arrivals.SpringerRepositório da Universidade de LisboaXia, WanjunDoğan, BuhariShahzad, UmerAdedoyin, Festus FataiPopoola, AbiodunBashir, Muhammad Adnan2022-11-24T15:36:33Z20222022-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/26206engXia, Wanjun ... [et al.] (2022). "An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator". Portuguese Economic Journal, 21(2):239-2661617-982X10.1007/s10258-021-00193-9metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:55:41Zoai:www.repository.utl.pt:10400.5/26206Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:09:54.390298Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator |
title |
An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator |
spellingShingle |
An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator Xia, Wanjun Tourism Growth European countries Energy consumption AMG estimator |
title_short |
An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator |
title_full |
An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator |
title_fullStr |
An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator |
title_full_unstemmed |
An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator |
title_sort |
An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator |
author |
Xia, Wanjun |
author_facet |
Xia, Wanjun Doğan, Buhari Shahzad, Umer Adedoyin, Festus Fatai Popoola, Abiodun Bashir, Muhammad Adnan |
author_role |
author |
author2 |
Doğan, Buhari Shahzad, Umer Adedoyin, Festus Fatai Popoola, Abiodun Bashir, Muhammad Adnan |
author2_role |
author author author author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Xia, Wanjun Doğan, Buhari Shahzad, Umer Adedoyin, Festus Fatai Popoola, Abiodun Bashir, Muhammad Adnan |
dc.subject.por.fl_str_mv |
Tourism Growth European countries Energy consumption AMG estimator |
topic |
Tourism Growth European countries Energy consumption AMG estimator |
description |
Due to urbanization and the need for people to go from one country to another either for commercial purpose or tourism, it is therefore important to determine the extent to which tourism contributes to growth. This article aims to investigate the tourism-led growth hypothesis in a sample of 34 European countries utilizing the yearly data from 1995 to 2015. The research work makes use of 8 tourism indicators, which cover diferent dimensions of tourism sector development such as foreign visitors’ spending, and international tourist arrival. For empirical analysis, the study accounts key determinants of growth such as capital, labor and energy (renewable and non-renewable) consumption. The results from common correlated efects (CCE) augmented mean group (AMG) and groped-mean estimators confrms that there is a positive relationship between tourism, labour, capital and GDP insinuating the presence of tourism-led growth hypothesis in the European countries. Also, fndings from the FMOLS show that changes in the variables leads to a proportional change in GDP. Specifcally, the evidence shows that the tourism indicators play an indispensable role in promoting economic development, along with energy consumption, capital, and labor. Sustainable Combating environmental issues associated with foreign arrivals, renewable energy consumption should be encouraged to reduce environmental externalities to ensure sustainable environments for businesses and tourists’ arrivals. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-11-24T15:36:33Z 2022 2022-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/26206 |
url |
http://hdl.handle.net/10400.5/26206 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Xia, Wanjun ... [et al.] (2022). "An empirical investigation of tourism‑led growth hypothesis in the European countries : evidence from augmented mean group estimator". Portuguese Economic Journal, 21(2):239-266 1617-982X 10.1007/s10258-021-00193-9 |
dc.rights.driver.fl_str_mv |
metadata only access info:eu-repo/semantics/openAccess |
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metadata only access |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Springer |
publisher.none.fl_str_mv |
Springer |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799131194896416768 |