Causality between economic growth and tourism expansion : empirical evidence from Trentino-Alto Adige
Part of : Tourismos : an international multidiciplinary journal of tourism ; Vol.5, No.2, 2010, pages 87-98
Issue:
Pages:
87-98
Section Title:
Research papers
Abstract:
This paper investigates the causal relations between tourism growth, relativeprices and economic expansion for the Trentino-Alto Adige/Südtirol, a region ofnortheast Italy bordering on Switzerland and Austria. Johansen cointegrationanalysis shows the existence of one cointegrated vector among real GDP, tourismand relative prices where the corresponding elasticities are positive. Tourism andrelative prices are weakly exogenous to real GDP. A variation of the GrangerCausality test developed by Toda and Yamamoto is performed to reveal the unidirectionalcausality from tourism to real GDP. Impulse response analysis showsthat a shock in tourism expenditure produces a fast positive effect on growth.
Subject:
Subject (LC):
Keywords:
economic growth, tourism expenditure, Johansen cointegration test, granger causality, Trentino-Alto Adige
Notes:
Περιέχει σχήματα, πίνακες και βιβλιογραφία
