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Energy resources, tourism development and growth-emission nexus in developing countries

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  • Guo, Yang
  • Zhao, Luwei
  • Zhang, Congcong

Abstract

The primary purpose of this research is to evaluate the interrelationship between economic growth, carbon dioxide emissions, fossil fuel resource consumption, renewable energy resource consumption, and the development of the tourism industry. To this end, the panel VAR (Vector Autoregressive) approach is employed to analyze the annual data over 2000–2021 for 40 developing Asian countries. The major findings confirmed the Environmental Kuznets Curve hypothesis only for economic growth in the industry and services sectors. In addition, there are bi-directional linkages between economic growth in all three sectors and tourism development, revealing the existence of both TLGH (the Tourism-led growth hypothesis) and ELTG (Economic Lead Tourism Growth) hypotheses. Regarding the value of the growth rate of CO2 (Carbon dioxide) emissions, the growth rates of all variables in the previous period positively impact it. In contrast, the growth rate of the green energy index negatively affects the value of the growth rate of carbon emissions in the examined Asian developing economies. Developing green financing markets and promoting green culture are two recommended practical policies by this research.

Suggested Citation

  • Guo, Yang & Zhao, Luwei & Zhang, Congcong, 2023. "Energy resources, tourism development and growth-emission nexus in developing countries," Resources Policy, Elsevier, vol. 81(C).
    • Handle: RePEc:eee:jrpoli:v:81:y:2023:i:c:s0301420723001150
    DOI: 10.1016/j.resourpol.2023.103407
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    More about this item

    Keywords

    Carbon dioxide emissions; Economic growth; Tourism development; Energy resources; Panel VAR technique;
    All these keywords.

    JEL classification:

    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • Z30 - Other Special Topics - - Tourism Economics - - - General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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