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- Title
TESTING FOR THE TOURISM LED ECONOMIC GROWTH HYPOTHESIS IN SWEDEN WITH STRUCTURAL BREAKS.
- Authors
HATEMI-J, ABDULNASSER; MANESCHIÖLD, PER-OLA
- Abstract
Many emerging as well as frontier markets have promoted tourism for achieving economic growth. This paper investigates empirically the impact of tourism receipts on the economic performance in Sweden. The results of tests for cointegration reveal that there is a long run relationship between the underlying variables if the effect of two unknown structural breaks are accounted for. The elasticity of the GDP with regard to revenue from tourism is around 0.99, which decreases during 1973-1977 but increases during 1978-2017. The result from the bootstrap causality test also shows that the tourism-led growth hypothesis is empirically supported in the case of Sweden.
- Subjects
SWEDEN; ECONOMIC expansion; ECONOMIC indicators; TOURISM impact; TOURISM; INTERNATIONAL tourism; HYPOTHESIS
- Publication
International Economics / Economia Internazionale, 2021, Vol 74, Issue 3, p293
- ISSN
0012-981X
- Publication type
Article