The Validity of Tourism-led Growth Hypothesis for The Top Ten Tourism Revenue Generating Countries

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2021-08-10 DOI:10.30519/ahtr.855879

Emrah Sofuoğlu

引用次数: 1

Abstract

This study aims to test the validity of the tourism-led growth hypothesis. For this purpose, ten countries with the highest tourism income (USA, China, Australia, France, Italy, England, Spain, Germany, Japan, Thailand) are included in the analysis covering the period 1995-2018. Pedroni cointegration, panel Dynamic Ordinary Least Square (DOLS) and panel Fully Modified Ordinary Least Square (FMOLS) methods are utilized by using economic growth, tourism revenues and exchange rate series. According to panel DOLS and panel FMOLS test results, tourism revenues and exchange rate have a positive effect on economic growth. Furthermore, Granger causality analysis findings indicate a uni-directional causal relation from tourism revenues to economic growth and from exchange rate to tourism. The overall results of the empirical analysis verify the tourism-led growth hypothesis for the ten countries with the highest tourism income.

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旅游带动增长假说对十大旅游创收国的有效性研究

本研究旨在检验旅游带动增长假说的有效性。为此，1995年至2018年期间，旅游收入最高的10个国家(美国、中国、澳大利亚、法国、意大利、英国、西班牙、德国、日本、泰国)被纳入分析。利用经济增长、旅游收入和汇率序列，采用Pedroni协整、面板动态普通最小二乘(DOLS)和面板完全修正普通最小二乘(FMOLS)方法。面板DOLS和面板FMOLS检验结果显示，旅游收入和汇率对经济增长有正向影响。此外，格兰杰因果分析结果表明，旅游收入与经济增长、汇率与旅游业之间存在单向因果关系。实证分析的总体结果验证了旅游带动增长假说对旅游收入最高的十个国家的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.