The relationship between tourism and foreign direct investment in developing countries (approach causality panel data)
Subject Areas : Financial Economicsداوود Behbod 1 , فرانک Bastan 2
1 - دانشیار گروه اقتصاد دانشگاه تبریز
2 - کارشناس ارشد علوم اقتصادی دانشگاه تبریز
Keywords:
Abstract :
Tourism is an activity capital, infrastructure, knowledge and access to global marketing and distribution chains are critical. Foreign direct investment (FDI) is often considered one of the most effective engines for harnessing these elements. This study applies panel causality methods to investigate the relationship between FDI and tourism in Developing Countries during 1995-2007. For this purpose, the Hsiao's- Granger and Toda & Yamamoto (TY) causality tests used for investigating causality relationship between two variables. The model estimation reveal finds that there is unilateral causality tourism to FDI. With respect to results of this study, the main implication policy is that the policy makers and economic planners should be adopting the suitable policies to improve tourism industry.
خوارزمی، ابوالقاسم (1384)، بررسی رابطه علیت گردشگری و تجارت در ایران، مجله پژوهشنامه بازرگانی، شماره 37، صص 91-108.
2.طیبی، کمیل، جباری، امیر و روح الله بابکی(1387)، بررسی رابطه علّی بین گردشگری و رشد اقتصادی (مطالعه موردی ایران، کشورهایOECD و کشورهای منتخب)، مجله دانش و توسعه، سال پانزدهم، شماره 24، صص 65-86.
3.Balaguer, J. & Cantavella-Jorda, M. (2002) Tourism as a long runs economic growth factor: The Spanish case, Applied Economics, No.34, pp. 877–884
4.Dritsakis, N.(2004) Tourism as a long-run economic growth factor: An empirical investigation for Greece using causality analysis , Tourism Economics, No.10, pp.305–316
5.Eugenio, M.J, Morales, M. N & Scarpa, R. (2004) Tourism and Economic Growth in Latin American Countries: A Panel Data Approach, Natural Resources Management (NRM), NOTA DILAVORO 26
6.Gollub, J, Hosier, A, & Woo, G.(2003) Leakages and linkages in the tourism sector: using cluster-based strategy to minimize tourism leakages, in WTO/OMT Studies in relation to Trade Negotiations on tourism services. Leakages and linkages Competition problems, Sustainability Standards,(Madrid: WTO/OMT)
7.Hsaio, C. (1981) Autoregressive Modeling and Money-income Causality Detection. Journal of Monetary Economics, No. 18, pp.85-106
8.Oh, C.O.(2005) The contribution of tourism development to economic growth in the Korean economy , Tourism Management , No.26, p.39–44
9.Selvanathan, S.E & Viswanathan, B. (2009) Causality between Foreign Direct Investment and Tourism: Empirical Evidence India, Tourism Analysis, No.13, pp.427-432
10.Shan, J & K. Wilson. (2001) Causality between trade and tourism: empirical evidence China, Applied Economics Letters, No.8, pp.279-283
11.Tiago, S. & Campos, C.(2005) International Tourism and Economic Growth: a Panel Data Approach , Natural Resources Management (NRM), NOTA DI LAVORO 141
12.Toda, H.Y & T. Yamamoto. (1995) Statistical Inference in Vector Auto-regressions with Possibly Integrated Processes. Journal of Econometrics, No.22, pp.309-317
13.Toh, R.S., H. Khan, and A.J. Koh (2001) A travel balance approach for examining tourism area life cycles: The Case of Singapore, Journal of travel Research, No.39, pp. 426-432
14.UNDTAD (2007), FDI in Tourism: The Development Dimension, A Survey of Evidence (New York and Geneva)
15.World Development Indicators CD-ROM (2010) The World Bank Group
16.World Travel & Tourism Council (WTTC) (2002) Industry as a partner for sustainable development, www.wttc.org