Tourism - led growth hypothesis in the top ten tourist destinations: new evidence using the quantile - on - quantile approach

Shahzad, S.J.H. and Shahbaz, M. and Ferrer, R. and Kumar, Ronald R. (2017) Tourism - led growth hypothesis in the top ten tourist destinations: new evidence using the quantile - on - quantile approach. Tourism Management, 60 . pp. 223-232. ISSN 0261-5177

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Abstract

This paper examines the empirical validity of the tourism-led growth hypothesis in the top ten tourist destinations in the world (China, France, Germany, Italy, Mexico, Russia, Spain, Turkey, the United Kingdom, and the United States) using the quantile-on-quantile (QQ) approach and a new index of tourism activity that combines the most commonly used tourism indicators. This methodology, recently introduced by Sim and Zhou (2015), provides an ideal framework with which to capture the overall dependence structure between tourism development and economic growth. The empirical results primarily show a positive relation between tourism and economic growth for the ten countries considered with substantial variations across countries and across quantiles within each country. The weakest links are noted for China and Germany, possibly because of the limited importance of the tourism sector relative to other major economic activities in those countries. Important country-specific policy implications may be drawn from these findings.

Item Type:	Journal Article
Subjects:	H Social Sciences > HA Statistics H Social Sciences > HB Economic Theory H Social Sciences > HG Finance
Divisions:	Faculty of Business and Economics (FBE) > School of Accounting and Finance
Depositing User:	Ronald Kumar
Date Deposited:	04 Jan 2017 04:52
Last Modified:	04 Jan 2017 04:52
URI:	https://repository.usp.ac.fj/id/eprint/9540

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