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Tourism And Economic Growth Nexus In Indonesia: The Dynamic Panel Data Approach

Author

Listed:
  • Wahyu WIDODO

    (Faculty of Economics and Business, Diponegoro University, Semarang, Indonesia)

  • F.X. SUGIYANTO

    (Faculty of Economics and Business, Diponegoro University, Semarang, Indonesia)

Abstract

The positive impact of tourism on economic growth is generally influenced by various indicators at both global and national levels. However, the question remains whether tourism encourages economic growth or vice versa. This paper examines the importance of tourism as a conditioning factor for economic growth in Indonesia. The validity of the relationship between tourism and economic growth can be examined by using the dynamic panel data estimation approach and convergence analysis to provide evidence of the impact of tourism on economic growth in Indonesia. In accordance with the initial hypothesis on tourism and economic growth, the result shows that the former can encourage the latter, although there is no indication of convergence among provinces in Indonesia. Therefore, if the supply characteristics of the tourism sector are improved, then it can be considered as an alternative source for stimulating economic growth in Indonesia.

Suggested Citation

  • Wahyu WIDODO & F.X. SUGIYANTO, 2019. "Tourism And Economic Growth Nexus In Indonesia: The Dynamic Panel Data Approach," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 83-91, June.
    • Handle: RePEc:hrs:journl:v:xi:y:2019:i:2:p:83-91
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    File URL: http://www.rsijournal.eu/ARTICLES/June_2019/SI/8.pdf
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    Citations

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    Cited by:

    1. Naradda Gamage, Sisira Kumara & Kumudumali, S. H. T. & Otamurodov, Shavkat, 2020. "The Nexus between Tourism and Economic Growth: A Systematic Literature Review and Future Research Directions," MPRA Paper 104086, University Library of Munich, Germany.
    2. Raisa M. IVANOVA & Olga V. SKROBOTOVA & Nadezhda K. MARTYNENKO & Olga S. TAMER & Anatoly V. KOZLOV, 2021. "Environmental Cooperation As A Way Of Developing Eco-Tourism In The Arctic Region," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 69-79, June.

    More about this item

    Keywords

    Economic Growth; Tourism; Dynamic Panel Data; Convergence;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal 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
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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