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An empirical study on the relationship between tourism development and economic growth—a panel data analysis of the EU case

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CHEN Xiao-jing

Online published: 2015-06-08

Abstract

This paper applies the heterogeneous panel conintegration technique to investigate the causal relationship between tourism development and economic growth for EU countries (including EU 15 and EU 12) for the time period of 1996-2011. After allowing for the heterogeneous country effect, a conintegrated relationship between tourism development and GDP is substantial. It is also determined that from the long time effect perspective, there exist bidirectional causality between tourism development and economic growth in both EU 15 and EU 12; this is also the case in EU 15 from a short time effect perspective but only unidirectional causality in EU 12. This has been reproved from the country groups divided according to geographic factors. These empirical findings have great policy implications.

Cite this article

CHEN Xiao-jing . An empirical study on the relationship between tourism development and economic growth—a panel data analysis of the EU case[J]. Journal of East China Normal University (Philosophy and Social Sciences), 2015 , 47(3) : 102 -109 . DOI: 10、16382/j.cnki.1000-5579.2015.03.011

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