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The absence of short run impact was also reported, a fact confirmed by the Impulse Response
Function test. The objective of the study was to establish the role of tourism development on
economic growth using time series secondary data from Zimbabwe. According to the results, there
are moderately increasing return to scale in tourism sector. The empirical results document the long-
term and short-term association between the variables. The study employs the Toda-Yamamoto
granger causality test. Basic findings of the VECM Granger causality tests support the reciprocal
causal hypothesis. The results show that tourists have a positive impact on the economic growth of
Turkey. We have found that a 1 percent increase in the spending of tourists leads to a 0.03 percent
increase in the GDP per capita. The study findings have empirically verified the presence of the
Tourism-led economic growth hypothesis in Zimbabwe. The results confirm the long-run relationship
between income from tourism and economic growth and explain that income from tourism has led
economic growth in Pakistan except in the years 2006, 2007, and 2008. Tourism could be an
effective substance for the sustainable growth of the country's economy and a strategy to help
Zimbabwe recover from Covid-19 economic effect. The accuracy of this model is tested by statistical
method. You can download the paper by clicking the button above. Tourism is one of the major
sources of export for the Turkish economy since the early 1980s. Governments are enjoined to join
forces, in the public-private model, with the private sector in the development and maintenance of
tourist attraction centres. Empirically, the study develops a tourism-growth model that is an
extension of Solow (1956) neoclassical growth function and attempts to determine whether there is
the long-run and short-run relationship via Autoregressive Distributed Lag (ARDL) model and
Granger technique. The main finding of this study is the Tourism-led economic growth hypothesis
can be accepted in Zimbabwe both in shortrun and long-run periods. It will be considered that
tourism sector will be a major sector in the globalization of economic development process. In this
study, the tourism-led growth hypothesis has been tested for Turkey over the period 1992:Q1 -
2014Q1, employing structural break unit root tests, cointegration analysis and VECM based Granger
causality analysis, including the growth and tourism uncertainties derived from GARCH models.
Bounds testing procedure to co-integration, Toda-Yamamoto and Dolado-Lutkepohl approach to
causality and Innovative Accounting Techniques were applied. This study used two measure of
tourism development -tourist arrivals and tourism expenditure per capita to explore the relationship
between tourism and economic growth. Further, the country can ease visa and border crossing
processes as well as eradicate insecurity for sustainable tourism and economic development.
According to the results, there are moderately increasing return to scale in tourism sector. The
preliminary evaluation of the data showed the absence of normality of all the variables excluding
domestic savings. Practical implications: This research has significant implications for both policy
makers and investors. We also find a two-way causal flow between economic development and
tourism. Also, both the volatilities of tourism receipts and economic growth are Granger causes of
tourism growth and economic growth in long-run as well as in short-run. By using our site, you
agree to our collection of information through the use of cookies. The main finding of this study is
the Tourism-led economic growth hypothesis can be accepted in Zimbabwe both in shortrun and
long-run periods. The aim of this paper is to investigate the dynamic relationship between touruism
growth and economic growth, using annual time series data from Jordan over the period (1990-2016).
They showed that tourism is in part an endogenous growth process, requiring a systematic allocation
of resources by government to sustain its effect on local economies. The government has to consider
the effect of the tourism industry while planning the investments, expenditures and incentives. The
research thereafter estimated the short and long run regression relationship by deploying the Vector
Error Correction model (VECM) and the Johansen system co-integration tests respectively. We
reveal if tourism leads to economic growth or growth leads to tourism development or bidirectional
relation exists between two variables. The results show that international tourism and expenditures
for passenger transport items have a positive impact on economic growth. Empirically, the study
develops a tourism-growth model that is an extension of Solow (1956) neoclassical growth function
and attempts to determine whether there is the long-run and short-run relationship via
Autoregressive Distributed Lag (ARDL) model and Granger technique. The empirical results
document the long-term and short-term association between the variables. The study uses
Autoregressive Distributed Lag tests (ARDL) for the long-term relationship; the short-term
relationship is examined with Error Correction model, and the VECM-Granger causality to determine
the direction of the causal flow. To browse Academia.edu and the wider internet faster and more
securely, please take a few seconds to upgrade your browser. Basic findings of the VECM Granger
causality tests support the reciprocal causal hypothesis. You can download the paper by clicking the
button above. The novelty stems from the perspective that there is no formal evidence on long-run
dynamics between economic development indicators and international tourism from Pakistan.
Tourism is one of the major sources of export for the Turkish economy since the early 1980s. The
robustness of combine cointegration approach is tested by Johansen cointegration technique. Pakistan
has a great potential for the tourism due to its diverse topography culture and traditions. This study
aims to explore the impact of tourism along with some other regressors, namely labor force, official
development assistance, local investment, and inflation rate on the economic growth rate of the
developing country of Pakistan. It embraces areas of Physical attractions like falls and rocks and so
on; Manmade like amusement and holiday resorts; Wild life based attractions like games, gardens
and fishing grounds; Cultural attractions like festivals,arts and crafts; Sports like local, regional and
international; and Business tourism like seminars conferences and meetings. The study findings have
empirically verified the presence of the Tourism-led economic growth hypothesis in Zimbabwe. The
main finding of this study is the Tourism-led economic growth hypothesis can be accepted in
Zimbabwe both in shortrun and long-run periods. Governments are enjoined to join forces, in the
public-private model, with the private sector in the development and maintenance of tourist attraction
centres. The results of the Granger causality test have demonstrated the unidirectional hypothesis,
where tourism development leads to economic growth. Download Free PDF View PDF SAGE Open
Investigating the Influence of International Tourism in Pakistan and Its Linkage to Economic
Growth: Evidence From ARDL Approach Abdul Rehman Tourism is a key source of income and
employment today, and different parts of the world are heavily dependent on it. It contributes to the
existing literature on this vital phenomenon. Hossein Panahi Abstract The main goal of this study is
to investigate the effect of tourism on the economic growth in Turkey over the period of 1970-2011.
Download Free PDF View PDF International Journal of Economics and Empirical Research Does
Tourism-led Growth Hypothesis Exist in Pakistan. The tourism led growth hypothesis is confirmed
through autoregressive distributed lag (ARDL) and vector error correction model econometric
framework using a time series data for the years that span from 1975 to 2005. The preliminary
evaluation of the data showed the absence of normality of all the variables excluding domestic
savings. Findings: The results suggest that there is cointegration between economic growth and
tourism receipts. Based on the order of integration of data, we employed an Autoregressive
Distributed Lag (ARDL) approach. Results. Empirical results vindicated a positive relationship
between tourism and growth. We reveal if tourism leads to economic growth or growth leads to
tourism development or bidirectional relation exists between two variables.
This study attempts to investigate the role of tourism in the long run economic development in case
of Pakistan. Further, the country can ease visa and border crossing processes as well as eradicate
insecurity for sustainable tourism and economic development. Empirical results reveal that tourism
receipts and arrivals per capital from tourism industry can effectively stimulate long-and short-run
growth, as do investments in human and physical capital, in Nigeria. Also, both the volatilities of
tourism receipts and economic growth are Granger causes of tourism growth and economic growth in
long-run as well as in short-run. Download Free PDF View PDF SAGE Open Investigating the
Influence of International Tourism in Pakistan and Its Linkage to Economic Growth: Evidence From
ARDL Approach Abdul Rehman Tourism is a key source of income and employment today, and
different parts of the world are heavily dependent on it. According to the results, there are
moderately increasing return to scale in tourism sector. Finally, this study shows that the product
elasticities are inelastic in Turkey during the period of 1970-2011. The accuracy of this model is
tested by statistical method. Download Free PDF View PDF Tourism, Economic Growth and
Current Account Deficit in Pakistan: Evidence from Co-integration and Causal Analysis
Muhammad Ramzan Sheikh Tourism has become the world’s most vital industry and dynamic sector
with its direct and indirect effects on economy. The study explores the potential contribution of
tourism to economic growth and development. Also tested was the validity of the model using the
Breusch-Godfrey serial correlation test in addition to the Impulse Response Function, the latter
being a check on the impact of external shock on the economic trend. We have found that a 1 percent
increase in the spending of tourists leads to a 0.03 percent increase in the GDP per capita. We reveal
if tourism leads to economic growth or growth leads to tourism development or bidirectional relation
exists between two variables. Also, uni-directional Toda Yamamoto causality subsists from tourism
to growth of the economy. Download Free PDF View PDF RELATED TOPICS Development
Economics See Full PDF Download PDF About Press Blog People Papers Topics Job Board We're
Hiring. The study findings have empirically verified the presence of the Tourism-led economic
growth hypothesis in Zimbabwe. The objective of the study was to establish the role of tourism
development on economic growth using time series secondary data from Zimbabwe. Although,
inadequate funding, investment and political will have been a constraint. The study uses
Autoregressive Distributed Lag tests (ARDL) for the long-term relationship; the short-term
relationship is examined with Error Correction model, and the VECM-Granger causality to determine
the direction of the causal flow. To browse Academia.edu and the wider internet faster and more
securely, please take a few seconds to upgrade your browser. This also confirms the hypothesis that
there is a unidirectional causal relationship from CAD to GDP, Tourists to GDP and Tourists to CAD.
The study uses four indicators of tourism; tourist arrivals, tourism receipts and expenditures, and a
tourism activity index, generated with the Principal Component Analysis, from the first three
indicators. You can download the paper by clicking the button above. This test concluded that the
series are co-integrated. It will be considered that tourism sector will be a major sector in the
globalization of economic development process. To that end, the behavioral change of tourists over
time is traced using the Kalman filter approach. Practical implications: This research has significant
implications for both policy makers and investors. In this study, the tourism-led growth hypothesis
has been tested for Turkey over the period 1992:Q1 -2014Q1, employing structural break unit root
tests, cointegration analysis and VECM based Granger causality analysis, including the growth and
tourism uncertainties derived from GARCH models. Turkiye icin, 1964-2016 donemi y?ll?k verileri
kullan?larak sonuclar elde edilmistir. They showed that tourism is in part an endogenous growth
process, requiring a systematic allocation of resources by government to sustain its effect on local
economies.
Thus, I is obvious that it is the growth of 21 st century which has brought about rise in
employment,elimination of social barriers, cultural revival, health therapy improved balance of
payments, and so on. Download Free PDF View PDF See Full PDF Download PDF Loading
Preview Sorry, preview is currently unavailable. This also confirms the hypothesis that there is a
unidirectional causal relationship from CAD to GDP, Tourists to GDP and Tourists to CAD. The
study findings have empirically verified the presence of the Tourism-led economic growth hypothesis
in Zimbabwe. In this study, the tourism-led growth hypothesis has been tested for Turkey over the
period 1992:Q1 -2014Q1, employing structural break unit root tests, cointegration analysis and
VECM based Granger causality analysis, including the growth and tourism uncertainties derived
from GARCH models. According to the estimated model with Least Squares Method, each %1
increse in the tourism receipt increases GDP %0.21 and the percentage change in the tourism receipts
can explain the %86 of the percentage change in GDP in the %95 confidence interval. Tourism could
be an effective substance for the sustainable growth of the country's economy and a strategy to help
Zimbabwe recover from Covid-19 economic effect. The results show that tourists have a positive
impact on the economic growth of Turkey. It contributes to the existing literature on this vital
phenomenon. The objective of the study was to establish the role of tourism development on
economic growth using time series secondary data from Zimbabwe. We also find a two-way causal
flow between economic development and tourism. In addition to there is a positive long-term
equilibrium relation related to growth with both fixed assets and tourism balance. It will be
considered that tourism sector will be a major sector in the globalization of economic development
process. Finally, this study shows that the product elasticities are inelastic in Turkey during the period
of 1970-2011. In the end, the study incorporates some suggestions for improving the tourism
industry in Pakistan focusing on tourism led growth. The tourism led growth hypothesis is confirmed
through autoregressive distributed lag (ARDL) and vector error correction model econometric
framework using a time series data for the years that span from 1975 to 2005. The combination of
results pointed a stable long run relationship among tourism, exchange rate and economic expansion
in the Pakistan economy. The causal relationship between economic growth and tourism
development, first formalized by Balaguer and Cantavella-Jorda, has been a subject of an intensive
debate, extensively discussed and studied in tourism economics treatise. The study uses
Autoregressive Distributed Lag tests (ARDL) for the long-term relationship; the short-term
relationship is examined with Error Correction model, and the VECM-Granger causality to determine
the direction of the causal flow. Download Free PDF View PDF See Full PDF Download PDF
Loading Preview Sorry, preview is currently unavailable. In addition to there is a positive long-term
equilibrium relation related to growth with both fixed assets and tourism balance. This finding
indicates that to increase the revenue obtained from tourism Turkey should ensure sustainable
growth. These include promoting tourism, by means of appropriate measures, in the economy in order
to create jobs and reduce income inequality and poverty; putting in place measures to reduce
corruption to avoid mismanagement of tourist receipts; and making sure that there is a necessary due
process towards tourism expenditures. However, an in-depth reading of this literature suggests that,
besides the fact that evidences are contentious and mixed across data, methodologies, countries and,
remain at best inconclusive; country-specific studies examining the relationship within the context of
African countries has received relatively little attention as the bulk of existent country-specific
studies mostly focused on European, American, and Asian economies. They showed that tourism is
in part an endogenous growth process, requiring a systematic allocation of resources by government
to sustain its effect on local economies. The main finding of this study is the Tourism-led economic
growth hypothesis can be accepted in Zimbabwe both in shortrun and long-run periods. Download
Free PDF View PDF Tourism, Economic Growth and Current Account Deficit in Pakistan: Evidence
from Co-integration and Causal Analysis Muhammad Ramzan Sheikh Tourism has become the
world’s most vital industry and dynamic sector with its direct and indirect effects on economy.
Conclusions. The empirical findings exhibit that tourism plays a key role in the process of economic
growth and development of Pakistan. Similarly, long-run dynamics also revealed that international
tourism expenditures for travel items and international tourism expenditures, international tourism
receipts for passenger transport items and international tourism receipts for travel items also had a.
Turkiye icin, 1964-2016 donemi y?ll?k verileri kullan?larak sonuclar elde edilmistir. Using Johansen
cointegration technique and ECM, this paper finds that there is a long run relationship between
number of tourists and GDP growth through the channel of reduction in current account deficit.
Additionally the Granger causality test was used to investigate the causality between tourism and
economic growth. Practical implications: This research has significant implications for both policy
makers and investors. This study analyzes the relationship between tourism income and economic
growth. According to the results, there are moderately increasing return to scale in tourism sector. It
embraces areas of Physical attractions like falls and rocks and so on; Manmade like amusement and
holiday resorts; Wild life based attractions like games, gardens and fishing grounds; Cultural
attractions like festivals,arts and crafts; Sports like local, regional and international; and Business
tourism like seminars conferences and meetings. The novelty stems from the perspective that there is
no formal evidence on long-run dynamics between economic development indicators and
international tourism from Pakistan. Thus, apt policies such as provision of adequate securities for
both foreign and domestic tourists, tax incentives to tourism related industries and hotels, investment
in basic infrastructure that will enhance and accelerate tourism expansion in the country should be
pursued. The study used a variety of methods based on the cobb-Douglus production function, the
Koyck geometrical lag model, cointegration analysis, error correction model and causality analysis.
Bounds testing procedure to co-integration, Toda-Yamamoto and Dolado-Lutkepohl approach to
causality and Innovative Accounting Techniques were applied. Empirically, the study develops a
tourism-growth model that is an extension of Solow (1956) neoclassical growth function and
attempts to determine whether there is the long-run and short-run relationship via Autoregressive
Distributed Lag (ARDL) model and Granger technique. Further, VECM Granger causality is used to
understand the direction of causality during structural shocks. Empirical results reveal that tourism
receipts and arrivals per capital from tourism industry can effectively stimulate long-and short-run
growth, as do investments in human and physical capital, in Nigeria. Abstract There are many factors
that affect economic growth, one of which is tourism income. Thus, I is obvious that it is the growth
of 21 st century which has brought about rise in employment,elimination of social barriers, cultural
revival, health therapy improved balance of payments, and so on. Also, uni-directional Toda
Yamamoto causality subsists from tourism to growth of the economy. The tourism led growth
hypothesis is confirmed through autoregressive distributed lag (ARDL) and vector error correction
model econometric framework using a time series data for the years that span from 1975 to 2005.
Tourism could be an effective substance for the sustainable growth of the country's economy and a
strategy to help Zimbabwe recover from Covid-19 economic effect. We have found that a 1 percent
increase in the spending of tourists leads to a 0.03 percent increase in the GDP per capita. To browse
Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade
your browser. The main finding of this study is the Tourism-led economic growth hypothesis can be
accepted in Zimbabwe both in shortrun and long-run periods. The study recommends that the
management authorities should implemen. Basic findings of the VECM Granger causality tests
support the reciprocal causal hypothesis. This study used two measure of tourism development -
tourist arrivals and tourism expenditure per capita to explore the relationship between tourism and
economic growth. Secondly, an econometric model concerning the relationship between tourism and
economic development are constructed. A few studies have discussed this issue empirically. By using
our site, you agree to our collection of information through the use of cookies. Also, both the
volatilities of tourism receipts and economic growth are Granger causes of tourism growth and
economic growth in long-run as well as in short-run. Download Free PDF View PDF International
Journal of Economics and Empirical Research Does Tourism-led Growth Hypothesis Exist in
Pakistan.