What question did this study set out to answer?

To empirically examine the long-run impact of international tourism earnings and real effective exchange rates on the economic growth of Greece.

September 1, 2004Tourism Economics

Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis

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Authors

NDNikolaos DritsakisUniversity of Macedonia

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Implication

Econometric analysis reveals a strong causal link between tourism earnings and long-run economic growth in Greece, indicating that tourism serves as a major economic driver.

Key Points

To empirically examine the long-run impact of international tourism earnings and real effective exchange rates on the economic growth of Greece.
Analyzed quarterly time-series data for real gross domestic product, real effective exchange rate, and international tourism earnings from 1960:I to 2000:IV.
Applied a Multivariate Vector Autoregressive (VAR) framework alongside cointegration analysis and Error Correction Model (ECM)-based Granger causality tests.
Cointegration analysis confirmed a single cointegrating vector among real GDP, real effective exchange rate, and international tourism earnings.
Error correction modeling demonstrated strong Granger causality running from international tourism earnings and real exchange rates to economic growth, as well as bidirectional causality between economic growth and tourism earnings.

Cite This Study

Nikolaos Dritsakis (2004) studied this question.

synapsesocial.com/papers/69df22d2b8d7e945666149c8 https://doi.org/10.5367/0000000041895094

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Implication

Econometric analysis reveals a strong causal link between tourism earnings and long-run economic growth in Greece, indicating that tourism serves as a major economic driver.

Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis

Discussion

Member takes

Implication

Key Points

Cite This Study

Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis

Discussion

Member takes

Implication

Key Points

Cite This Study

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