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Analysis of the Impact of Tourism on the West Africa Economy: A Panel Data Approach

Author

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  • Ige, Cyril Segun
  • Odularu, Gbadebo Olusegun

Abstract

Tourism and related recreation activities play a significant role in the generation of income / foreign exchange and provision of employment opportunities. Against this backdrop, this paper aims at ascertaining empirically the impact of tourism on the West African economy from 2000 – 2004. The relationship is analysed based on a panel data approach. While the study estimates the relationship between economic growth and growth in tourist arrivals conditional on main macroeconomic variables, it recommends that the role of tourism cannot be over-emphasized in the sustainable economic development in West Africa. In other words, economic performance in West Africa can be enhanced through sound tourism development policies that support economic openness with greater emphasis on liberalization policy since the region stands to gain from this policy stance.

Suggested Citation

  • Ige, Cyril Segun & Odularu, Gbadebo Olusegun, 2007. "Analysis of the Impact of Tourism on the West Africa Economy: A Panel Data Approach," MPRA Paper 25366, University Library of Munich, Germany, revised 07 Jan 2008.
    • Handle: RePEc:pra:mprapa:25366
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    File URL: https://mpra.ub.uni-muenchen.de/25366/1/MPRA_paper_25366.pdf
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    References listed on IDEAS

    as
    1. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    2. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
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    Cited by:

    1. Eric Olabode Olabisi, 2018. "Revisiting the Tourism-Economic Growth Nexus: The Case of Economic Community of West African States," Business & Management Compass, University of Economics Varna, issue 1, pages 21-30.
    2. Jackman, Mahalia & Lorde, Troy, 2009. "Economic Growth and Tourism in Barbados: A Test of the Supply-side Hypothesis," MPRA Paper 95548, University Library of Munich, Germany.

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    More about this item

    Keywords

    Tourism; Economic growth; Panel data; West Africa;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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