IDEAS home Printed from https://ideas.repec.org/a/sae/emeeco/v15y2023i1p72-92.html
   My bibliography  Save this article

Does Tourism Affect Sustainable Development in MINT Countries?

Author

Listed:
  • Tolulope Osinubi
  • Ajayi Adedoyin
  • Osinubi Olufemi
  • Folorunsho Ajide

Abstract

Following the failure to achieve Millennium Development Goals by most countries in the world, Sustainable Development Goals are now at the center of developmental issues. Consequently, this study aims to examine if tourism can be an ally to sustainable development in MINT (Mexico, Indonesia, Nigeria, Turkey) countries between 1995 and 2018. The study uses adjusted net saving and international tourism receipts in these countries as measures of sustainable development and tourism, respectively. In achieving its objectives, the study employs the augmented mean group (AMG) estimation technique to estimate the long-run parameters. Besides, mean group (MG) and common correlated effects MG techniques are employed to check the robustness of the estimates obtained via the AMG approach. The results from the three estimators show that tourism is indeed an ally to sustainable development in MINT countries since there is a significant positive relationship between tourism and sustainable development. In other words, tourism can put the MINT countries on the path to sustainable development. This implies that any policy that will enhance the performance of the tourism industry will ensure sustainable development in MINT countries. Thus, the governments of MINT countries should focus basically on achieving sustainable tourism development, as this will translate to sustainable development in their countries.

Suggested Citation

  • Tolulope Osinubi & Ajayi Adedoyin & Osinubi Olufemi & Folorunsho Ajide, 2023. "Does Tourism Affect Sustainable Development in MINT Countries?," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 15(1), pages 72-92, January.
    • Handle: RePEc:sae:emeeco:v:15:y:2023:i:1:p:72-92
    DOI: 10.1177/09749101211064388
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/09749101211064388
    Download Restriction: no
    File URL: https://libkey.io/10.1177/09749101211064388?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
    ---><---

    References listed on IDEAS

    as
    1. Temilola Osinubi, Tolulope, 2020. "The Role Of Income Inequality In The Globalisation-Poverty Nexus: Empirical Evidence From Mint Countries," Ilorin Journal of Economic Policy, Department of Economics, University of Ilorin, vol. 7(2), pages 67-89, June.
    2. M. Hashem Pesaran, 2021. "General diagnostic tests for cross-sectional dependence in panels," Empirical Economics, Springer, vol. 60(1), pages 13-50, January.
    3. Hashem Pesaran, M. & Yamagata, Takashi, 2008. "Testing slope homogeneity in large panels," Journal of Econometrics, Elsevier, vol. 142(1), pages 50-93, January.
    4. Joakim Westerlund, 2007. "Testing for Error Correction in Panel Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 69(6), pages 709-748, December.
    5. Jorg Breitung, 2005. "A Parametric approach to the Estimation of Cointegration Vectors in Panel Data," Econometric Reviews, Taylor & Francis Journals, vol. 24(2), pages 151-173.
    6. Ekinci, Mehmet Behzat, 2014. "The Cittaslow philosophy in the context of sustainable tourism development; the case of Turkey," Tourism Management, Elsevier, vol. 41(C), pages 178-189.
    7. Andrew Phiri, 2016. "Tourism and Economic Growth in South Africa: Evidence from Linear and Nonlinear Cointegration Frameworks," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 14(1 (Spring), pages 31-53.
    8. Francis Teal & Markus Eberhardt, 2010. "Productivity Analysis in Global Manufacturing Production," Economics Series Working Papers 515, University of Oxford, Department of Economics.
    9. M. Hashem Pesaran, 2006. "Estimation and Inference in Large Heterogeneous Panels with a Multifactor Error Structure," Econometrica, Econometric Society, vol. 74(4), pages 967-1012, July.
    10. Eberhardt, Markus & Teal, Francis, 2008. "Modeling technology and technological change in manufacturing: how do countries differ?," MPRA Paper 10690, University Library of Munich, Germany.
    11. Tugcu, Can Tansel, 2014. "Tourism and economic growth nexus revisited: A panel causality analysis for the case of the Mediterranean Region," Tourism Management, Elsevier, vol. 42(C), pages 207-212.
    12. Chimere O. Iheonu & Simplice A. Asongu & Kingsley O. Odo & Patrick K. Ojiem, 2020. "Financial sector development and Investment in selected countries of the Economic Community of West African States: empirical evidence using heterogeneous panel data method," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-15, December.
    13. Chimere O. Iheonu & Simplice A. Asongu & Kingsley O. Odo & Patrick K. Ojiem, 2020. "Financial Sector Development and Investment in Selected ECOWAS Countries: Empirical Evidence using Heterogeneous Panel Data Method," Research Africa Network Working Papers 20/045, Research Africa Network (RAN).
    14. Osinubi, Tolulope Temilola & Osinubi , Olufemi Bankole, 2020. "Inclusive Growth in Tourism-led Growth Hypothesis: Evidence from Nigeria," African Journal of Economic Review, African Journal of Economic Review, vol. 8(2), July.
    15. Pesaran, M. Hashem & Smith, Ron, 1995. "Estimating long-run relationships from dynamic heterogeneous panels," Journal of Econometrics, Elsevier, vol. 68(1), pages 79-113, July.
    16. M. Hashem Pesaran, 2007. "A simple panel unit root test in the presence of cross-section dependence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(2), pages 265-312.
    17. Annemarie van Zeijl-Rozema & Ron Cörvers & René Kemp & Pim Martens, 2008. "Governance for sustainable development: a framework," Sustainable Development, John Wiley & Sons, Ltd., vol. 16(6), pages 410-421.
    18. Shahzad, Syed Jawad Hussain & Shahbaz, Muhammad & Ferrer, Román & Kumar, Ronald Ravinesh, 2017. "Tourism-led growth hypothesis in the top ten tourist destinations: New evidence using the quantile-on-quantile approach," Tourism Management, Elsevier, vol. 60(C), pages 223-232.
    19. Salvo Creaco & Giulio Querini, 2003. "The role of tourism in sustainable economic development," ERSA conference papers ersa03p84, European Regional Science Association.
    20. Bogdan-Constantin Ibănescu & Oana Mihaela Stoleriu & Alina Munteanu & Corneliu Iațu, 2018. "The Impact of Tourism on Sustainable Development of Rural Areas: Evidence from Romania," Sustainability, MDPI, vol. 10(10), pages 1-19, October.
    21. Dogru, Tarik & Sirakaya-Turk, Ercan, 2017. "Engines of tourism's growth: An examination of efficacy of shift-share regression analysis in South Carolina," Tourism Management, Elsevier, vol. 58(C), pages 205-214.
    22. Kwabena Twerefou, Daniel & Danso-Mensah, Kwadwo & Bokpin, Godfred A., 2017. "The environmental effects of economic growth and globalization in Sub-Saharan Africa: A panel general method of moments approach," Research in International Business and Finance, Elsevier, vol. 42(C), pages 939-949.
    23. Ristić, Dušan & Vukoičić, Danijela & Milinčić, Miroljub, 2019. "Tourism and sustainable development of rural settlements in protected areas - Example NP Кopaonik (Serbia)," Land Use Policy, Elsevier, vol. 89(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Syed Asif Ali Naqvi & Bilal Hussain & Ashfaq Ahmad Shah & Muhammad Atiq Ur Rehman Tariq & Muhammad Usman, 2022. "Influence of Economic Growth, Energy Production, and Subcomponents on the Environment: A Regional Level Analytical Modeling," Sustainability, MDPI, vol. 14(22), pages 1-22, November.
    2. Nwani, Chinazaekpere & Usman, Ojonugwa & Okere, Kingsley Ikechukwu & Bekun, Festus Victor, 2023. "Technological pathways to decarbonisation and the role of renewable energy: A study of European countries using consumption-based metrics," Resources Policy, Elsevier, vol. 83(C).
    3. Dong, Kangyin & Hochman, Gal & Zhang, Yaqing & Sun, Renjin & Li, Hui & Liao, Hua, 2018. "CO2 emissions, economic and population growth, and renewable energy: Empirical evidence across regions," Energy Economics, Elsevier, vol. 75(C), pages 180-192.
    4. Muhammad Shahbaz & Syed Jawad Hussain Shahzad & Mantu Kumar Mahalik & Perry Sadorsky, 2018. "How strong is the causal relationship between globalization and energy consumption in developed economies? A country-specific time-series and panel analysis," Applied Economics, Taylor & Francis Journals, vol. 50(13), pages 1479-1494, March.
    5. Usman, Muhammad & Makhdum, Muhammad Sohail Amjad, 2021. "What abates ecological footprint in BRICS-T region? Exploring the influence of renewable energy, non-renewable energy, agriculture, forest area and financial development," Renewable Energy, Elsevier, vol. 179(C), pages 12-28.
    6. Li, Xuelin & Yang, Lin, 2023. "Natural resources, remittances and carbon emissions: A Dutch Disease perspective with remittances for South Asia," Resources Policy, Elsevier, vol. 85(PB).
    7. Aladejare, Samson Adeniyi, 2023. "Economic prosperity, asymmetric natural resource income, and ecological demands in resource-reliant economies," Resources Policy, Elsevier, vol. 82(C).
    8. Skare, Marinko & Ozturk, Ilhan & Porada-Rochoń, Małgorzata & Stjepanovic, Sasa, 2024. "Energy as the new frontier: Dynamic panel data analysis revealing energy's transformative role in economic growth and technological progress," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    9. Delwar Hossain, 2014. "Differential Impacts of Foreign Capital and Remittance Inflows on Domestic Savings in the Developing Countries: A Dynamic Heterogeneous Panel Analysis," Departmental Working Papers 2014-07, The Australian National University, Arndt-Corden Department of Economics.
    10. Obobisa, Emma Serwaa, 2022. "Achieving 1.5 °C and net-zero emissions target: The role of renewable energy and financial development," Renewable Energy, Elsevier, vol. 188(C), pages 967-985.
    11. Oikarinen, Elias & Bourassa, Steven C. & Hoesli, Martin & Engblom, Janne, 2018. "U.S. metropolitan house price dynamics," Journal of Urban Economics, Elsevier, vol. 105(C), pages 54-69.
    12. Sha Qiao & Caihong Zhang & Lizeth Cuesta & Rafael Alvarado & Stefania Pinzón & Diana Bravo-Benavides, 2022. "Impact of Government Stability and Investment Profile on Forest Area: The Role of Natural Protected Areas," Sustainability, MDPI, vol. 14(8), pages 1-20, April.
    13. Andrew Adewale Alola & Glory Chiyoru Dike & Uju Violet Alola, 2022. "The Role of Legal System and Socioeconomic Aspects in the Environmental Quality Drive of the Global South," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 163(2), pages 953-972, September.
    14. Markus Eberhardt, 2011. "Panel time-series modeling: New tools for analyzing xt data," United Kingdom Stata Users' Group Meetings 2011 22, Stata Users Group.
    15. Jibril, Halima & Chaudhuri, Kausik & Mohaddes, Kamiar, 2020. "Asymmetric oil prices and trade imbalances: Does the source of the oil shock matter?," Energy Policy, Elsevier, vol. 137(C).
    16. Shuddhasattwa Rafiq & Ruhul Salim & Nicholas Apergis, 2016. "Agriculture, trade openness and emissions: an empirical analysis and policy options," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 60(3), pages 348-365, July.
    17. Sencer Atasoy, Burak, 2017. "Testing the environmental Kuznets curve hypothesis across the U.S.: Evidence from panel mean group estimators," Renewable and Sustainable Energy Reviews, Elsevier, vol. 77(C), pages 731-747.
    18. Ifedolapo Olabisi Olanipekun & Godwin Olasehinde-Williams & Hasan Güngör, 2019. "Impact of Economic Policy Uncertainty on Exchange Market Pressure," SAGE Open, , vol. 9(3), pages 21582440198, September.
    19. Mehmet Balcilar & Sahar Aghazadeh & George N Ike, 2021. "Modelling the employment, income and price elasticities of outbound tourism demand in OECD countries," Tourism Economics, , vol. 27(5), pages 971-990, August.
    20. Jalil, Abdul, 2014. "Energy–growth conundrum in energy exporting and importing countries: Evidence from heterogeneous panel methods robust to cross-sectional dependence," Energy Economics, Elsevier, vol. 44(C), pages 314-324.

    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:sae:emeeco:v:15:y:2023:i:1:p:72-92. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: SAGE Publications (email available below). General contact details of provider: http://www.emergingmarketsforum.org/ .

    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.