Is the tourism sector supportive of economic growth? Empirical evidence on Romanian tourism

被引:66
作者
Surugiu, Camelia [1 ,2 ]
Surugiu, Marius Razvan [3 ]
机构
[1] Natl Inst Res & Dev Tourism, Bucharest 050741, Romania
[2] Univ Bucharest, Fac Adm & Business, Bucharest, Romania
[3] Romanian Acad, Inst Natl Econ, Bucharest, Romania
关键词
economic growth; cointegration; VECM; Romania; ECONOMETRIC-ANALYSIS; LONG-RUN; IMPACTS; CAUSALITY; IDENTITY; POLICY;
D O I
10.5367/te.2013.0196
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper studies the long-run relationships between tourism expansion and economic growth in Romania during the period 1988 2009. The empirical evidence highlights the nature of causal relationships, if any, between domestic travel and tourism spending, internal travel and tourism consumption, the gross domestic product annual growth rate and the real exchange rate. The paper uses the cointegration method and Granger causality analysis based on the vector error correction model (VECM) and impulse functions. The findings suggest that there are Granger causality relationships running from tourism expansion to economic growth, which sustains the tourism-led growth hypothesis (TLGH). These results emphasize the need for more consistent tourism development plans and strategies to be implemented at national and regional levels by the governmental authorities.
引用
收藏
页码:115 / 132
页数:18
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