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Research Note: The Tourism–Growth Nexus in Croatia

Author

Listed:
  • James E. Payne

    (Department of Economics, Illinois State University, Normal, IL 61790-4200, USA)

  • Andrea Mervar

    (Institute of Economics, Trg J.F. Kennedyja 7, 10000 Zagreb, Croatia)

Abstract

This empirical study examines the tourism-led growth hypothesis for Croatia using quarterly data from 2000:1 to 2008:3. The Toda– Yamamoto long-run causality tests reveal positive unidirectional causality from real GDP to international tourism revenues, as well as positive unidirectional causality from real GDP to the real effective exchange rate. Thus, the results lend support for the economic-driven tourism growth hypothesis.

Suggested Citation

  • James E. Payne & Andrea Mervar, 2010. "Research Note: The Tourism–Growth Nexus in Croatia," Tourism Economics, , vol. 16(4), pages 1089-1094, December.
    • Handle: RePEc:sae:toueco:v:16:y:2010:i:4:p:1089-1094
    DOI: 10.5367/te.2010.0014
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    References listed on IDEAS

    as
    1. Toda, Hiro Y. & Yamamoto, Taku, 1995. "Statistical inference in vector autoregressions with possibly integrated processes," Journal of Econometrics, Elsevier, vol. 66(1-2), pages 225-250.
    2. Hazari, Bharat R. & Kaur, Charanjit, 1995. "Tourism and welfare in the presence of pure monopoly in the non-traded goods sector," International Review of Economics & Finance, Elsevier, vol. 4(2), pages 171-177.
    3. Andrea Mervar & James E. Payne, 2007. "Analysis of Foreign Tourism Demand for Croatian Destinations: Long-Run Elasticity Estimates," Tourism Economics, , vol. 13(3), pages 407-420, September.
    4. Hazari, Bharat R. & A-Ng, 1993. "An analysis of tourists' consumption of non-traded goods and services on the welfare of the domestic consumers," International Review of Economics & Finance, Elsevier, vol. 2(1), pages 43-58.
    5. James E. Payne & Andrea Mervar, 2002. "A Note on Modelling Tourism Revenues in Croatia," Tourism Economics, , vol. 8(1), pages 103-109, March.
    6. Nikolaos Dritsakis, 2004. "Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis," Tourism Economics, , vol. 10(3), pages 305-316, September.
    7. Lokman Gunduz & Abdulnasser Hatemi-J, 2005. "Is the tourism-led growth hypothesis valid for Turkey?," Applied Economics Letters, Taylor & Francis Journals, vol. 12(8), pages 499-504.
    Full references (including those not matched with items on IDEAS)

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