Research note: Tourism and growth in the Caribbean - evidence from a panel error correction model

• Nicholas Apergis ^[1] ; James E. Payne ^[2]
  1. [1] University of Piraeus

     University of Piraeus

     Grecia

     
  2. [2] Florida Polytechnic University

     Florida Polytechnic University

     Estados Unidos

     
• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 18, Nº. 2, 2012, págs. 449-456
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • This empirical study examines the causal relationship between tourism and economic growth for a panel of nine Caribbean countries over the period 1995-2007. Pedroni (1999, 2004) panel cointegration tests reveal a long-run equilibrium relationship between real GDP per capita, the real effective exchange rate and international tourist arrivals per capita. The panel error correction model reveals bidirectional causality between tourism and economic growth in both the short run and the long run.