IDEAS home Printed from https://ideas.repec.org/a/aka/aoecon/v70y2020i2p215-227.html
   My bibliography  Save this article

Tourism and Economic Growth in Greece: Αn ARDL Bounds Testing Approach in a Kaldorian Framework

Author

Listed:
  • Konstantinos Spinthiropoulos

    (School of Economics, Department of Management Science & Technology, University of West Macedonia
    Technological Educational Institute of Western Macedonia (TEIWM), Koila, Kozani, 50100, Greece)

  • Christos Nikas

    (Department of International and European Studies, University of Macedonia, Thessaloniki, Greece)

  • Eleni Zafeiriou

    (Department of Agricultural Development, Democritus University of Thrace, Xanthi, Greece)

Abstract

The purpose of the study is to examine the relationship between tourism development and economic growth in Greece, using the Autoregressive Distributed Lag (ARDL)-Bounds testing procedure. The present paper attempts to examine the relevance of the tourism led growth hypothesis according to the Kaldorian theory. The analysis was carried out for the period from 1963 to 2016 and involves the short-run as well as the log-run impact. As a proxy for the output of the tourism sector, its receipts are employed, while as an index for economic growth, the GDP is employed. The empirical results show that the economy of Greece can recover and return to the long-run equilibrium with a speed of adjustment 7.17% per year.

Suggested Citation

  • Konstantinos Spinthiropoulos & Christos Nikas & Eleni Zafeiriou, 2020. "Tourism and Economic Growth in Greece: Αn ARDL Bounds Testing Approach in a Kaldorian Framework," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 70(2), pages 215-227, June.
    • Handle: RePEc:aka:aoecon:v:70:y:2020:i:2:p:215-227
    DOI: 10.1556/032.2020.00011
    as

    Download full text from publisher

    File URL: https://doi.org/10.1556/032.2020.00011
    Download Restriction: subscription
    File URL: https://libkey.io/10.1556/032.2020.00011?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Kaldorian growth theory; tourism; ARDL; bound testing; Greece;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aka:aoecon:v:70:y:2020:i:2:p:215-227. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kriston, Orsolya (email available below). General contact details of provider: https://akademiai.hu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.