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Tourism and economic growth: a panel data analysis for Pacific Island countries

Narayan, P.K. and Narayan, S. and Prasad, Arti D. and Prasad, Biman C. (2010) Tourism and economic growth: a panel data analysis for Pacific Island countries. Tourism Economics, 16 (1). pp. 169-183. ISSN 1354-8166

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Abstract

The contribution of tourism to the economic growth of Pacific Island countries (PICs) has achieved significance in the past decade. The shift in the economic policies of the PICs from the late 1980s has been decisively away from import substitution and agriculture to urban-based manufacturing and services sectors. Tourism is the main component of the services sector in the PICs. The contribution of tourism to economic growth in Fiji, Tonga, the Solomon Islands and Papua New Guinea is expected to grow. The authors use panel data for the four PICs to test the long-run relationship between real GDP and real tourism exports. They find support for panel cointegration and the results suggest that a 1% increase in tourism exports increases GDP by 0.72% in the long run and by 0.24% in the short run.

Item Type: Journal Article
Subjects: H Social Sciences > HD Industries. Land use. Labor
T Technology > TX Home economics
Divisions: Faculty of Business and Economics (FBE) > School of Economics
Depositing User: Ms Mereoni Camailakeba
Date Deposited: 29 Nov 2010 09:17
Last Modified: 07 Oct 2013 15:40
URI: http://repository.usp.ac.fj/id/eprint/1852
UNSPECIFIED

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