Examining The Causal Relationship Between Tourism, Exchange Rate, And Economic Growth In Tourism Island States: Evidence From Second-Generation Panel

References

• Akadiri, S. S., Akadiri, A. C., & Alola, U. V. (2017). Is there growth impact of tourism? Evidence from selected small island states. In Current Issues in Tourism (pp. 1–19). Routledge Informa United Kingdom Limited, Taylor and Francis Group.
   Google Scholar
• Akadiri, S. S., Lasisi, T. T., Uzuner, G., & Akadiri, A. C. (2018). Examining the causal impacts of tourism, globalization, economic growth and carbon emissions in tourism island states: Bootstrap panel Granger causality analysis. In Current Issues in Tourism (pp. 1–15). Routledge Informa United Kingdom Limited, Taylor and Francis Group.
   Google Scholar
• Albalate, D., & Bel, G. (2010). Tourism and urban public transport: Holding demand pressure under supply constraints. Tourism Management, 31(3), 425–433.
   Web of Science ®Google Scholar
• Anselin, L. (2001). Spatial effects in econometric practice in environmental and resource economics. American Journal of Agricultural Economics, 83(3), 705-710.
   Google Scholar
• Archer, B., & Fletcher, J. (1996). The economic impact of tourism in the Seychelles. Annals of Tourism Research, 23(1), 32–47.
   Web of Science ®Google Scholar
• Archer, E. (1984). Estimating the relationship between tourism and economic growth in Barbados. Journal of Travel Research, 22(4), 8–12.
   Google Scholar
• Balaguer, J., & Cantavella-Jorda, M. (2002). Tourism as a long-run economic growth factor: The Spanish case. Applied Economics, 34(7), 877–884.
   Web of Science ®Google Scholar
• Baltagi, B. (2008). Econometric analysis of panel data. Chichester, UK: John Wiley & Sons.
   Google Scholar
• Belloumi, M. (2010). The relationship between tourism receipts, real effective exchange rate and economic growth in Tunisia. International Journal of Tourism Research, 12(5), 550–560.
   Web of Science ®Google Scholar
• Boissevain, J. (1977). Tourism and development in Malta. Development and Change, 8(4), 523–538.
   Web of Science ®Google Scholar
• Chadeeand, D., & Mieczkowski, Z. (1987). An empirical analysis of the effects of the exchange rate on Canadian tourism. Journal of Travel Research, 26(1), 13–17.
   Google Scholar
• Chase, G., & Alon, I. (2002). Evaluating the economic impact of cruise tourism: A case study of Barbados. Anatolia, 13(1), 5–18.
   Google Scholar
• Choi, H.-C., & Sirakaya, E. (2006). Sustainability indicators for managing community tourism. Tourism Management, 27(6), 1274–1289.
   Web of Science ®Google Scholar
• Domac, I., & Shabsigh, G. (1999). Real exchange rate behavior and economic rate growth: Evidence from Egypt. Jordan, Morocco, and Tunisia. IMF Working Paper, WP/99/40. Washington DC, 10-11.
   Google Scholar
• Dritsakis, N. (2004a). Cointegration analysis of German and British tourism demand for Greece. Tourism Management, 25(1), 111–119.
   Web of Science ®Google Scholar
• Dritsakis, N. (2004b). Tourism as a long-run economic growth factor: An empirical investigation for Greece using causality analysis. Tourism Economics, 10(3), 305–316.
   Google Scholar
• Dumitrescu, E. I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(4), 1450–1460.
   Web of Science ®Google Scholar
• Durburry, R. (2004). Tourism and economic growth: The case of Mauritius. Tourism Economics, 10(4), 389–401.
   Google Scholar
• Dwyer, L., & Forsyth, P. (2008). Economic measures of tourism yield: What markets to target? International Journal of Tourism Research, 10(2), 155–168.
   Web of Science ®Google Scholar
• Eberhardt, M., & Teal, F. (2011). Econometrics for grumblers: A new look at the literature on cross‐country growth empirics. Journal of Economic Surveys, 25(1), 109–155.
   Web of Science ®Google Scholar
• Eberhardt, M. M., & Presbitero, A. (2013). This time they are different: heterogeneity and nonlinearity in the relationship between debt and growth (No. 13-248). International Monetary Fund.
   Google Scholar
• Fahimi, A., Saint Akadiri, S., Seraj, M., & Akadiri, A. C. (2018). Testing the role of tourism and human capital development in economic growth. A panel causality study of micro states. Tourism Management Perspectives, 28, 62–70.
   Web of Science ®Google Scholar
• Falk, M. (2010). A dynamic panel data analysis of snow depth and winter tourism. Tourism Management, 31(6), 912–924.
   Web of Science ®Google Scholar
• Gunduz, L., & Hatemi, J. A. (2005). Is the tourism-led growth hypothesis valid for Turkey? Applied Economics Letters, 12(8), 499–504.
   Web of Science ®Google Scholar
• Hall, D. R. (1998). Tourism development and sustainability issues in Central and Southeastern Europe. Tourism Management, 19(5), 423–431.
   Web of Science ®Google Scholar
• Holzner, M. (2011). Tourism and economic growth: The beach disease? Tourism Management, 32(4), 922–933.
   Web of Science ®Google Scholar
• Jaakson, R. (1996). Tourism in transition in post-Soviet Estonia. Annals of Tourism Research, 23(3), 617–634.
   Web of Science ®Google Scholar
• Jóhannesson, G. T., & Huijbens, E. H. (2010). Tourism in times of crisis: Exploring the discourse of tourism development in Iceland. Current Issues in Tourism, 13(5), 419–434.
   Web of Science ®Google Scholar
• Kao, C. (1999). Spurious regression and residual-based tests for cointegration in panel data. Journal of Econometrics, 90(1), 1–44.
   Web of Science ®Google Scholar
• Katircioglu, S. (2009a). Tourism, trade and growth: The case of Cyprus. Applied Economics, 41(21), 2741–2750.
   Web of Science ®Google Scholar
• Katircioglu, S. (2009b). Testing the tourism-led growth hypothesis: The case of Malta. Acta Oeconomica, 59(3), 331–343.
   Web of Science ®Google Scholar
• Kulendran, N., & Wilson, K. (2000). Is there a relationship between international trade and international travel? Applied Economics, 32(8), 1001–1009.
   Web of Science ®Google Scholar
• Levy, D. E., & Lerch, P. B. (1991). Tourism as a factor in development implications for gender and work in Barbados. Gender and Society, 5(1), 67–85.
   Web of Science ®Google Scholar
• Lim, C. (1997). Review of international tourism demand models. Annals of Tourism Research, 24(4), 835–849.
   Web of Science ®Google Scholar
• Maddala, G. S., & Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61(S1), 631–652.
   Google Scholar
• Moscone, F., & Tosetti, E. (2010). Testing for error cross section independence with an application to US health expenditure. Regional Science and Urban Economics, 40(5), 283–291.
   Web of Science ®Google Scholar
• Oh, C. O. (2005). The contribution of tourism development to economic growth in the Korean economy. Tourism Management, 26(1), 39–44.
   Web of Science ®Google Scholar
• Olafsdottir, R., & Runnström, M. C. (2009). A GIS approach to evaluating ecological sensitivity for tourism development in fragile environments. A case study from SE Iceland. Scandinavian Journal of Hospitality and Tourism, 9(1), 22–38.
   Web of Science ®Google Scholar
• Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels (CESifo Working Paper Series No. 1229; IZA Discussion Paper No. 1240). University of Cambridge.
   Google Scholar
• Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265–312.
   Web of Science ®Google Scholar
• Roudi, S., Arasli, H., & Akadiri, S. S. (2018). New insights into an old issue–Examining the influence of tourism on economic growth: Evidence from selected small island developing states. Current Issues in Tourism, 1–21.
   Web of Science ®Google Scholar
• Shan, J., & Wilson, K. (2001). Causality between trade and tourism: Empirical evidence from China. Applied Economics Letters, 8(4), 279–283.
   Web of Science ®Google Scholar
• Sharpley, R. (2003). Tourism, modernisation and development on the island of Cyprus: Challenges and policy responses. Journal of Sustainable Tourism, 11(2–3), 246–265.
   Google Scholar
• Sinclair, M. T. (1998). Tourism and economic development: A survey. The Journal of Development Studies, 34(5), 1–51.
   Web of Science ®Google Scholar
• Sokhanvar, A. (2019). Does foreign direct investment accelerate tourism and economic growth within Europe? Tourism Management Perspectives, 29, 86–96.
   Web of Science ®Google Scholar
• Sokhanvar, A., Aghaei, I., & Aker, Ş. (2018). The effect of prosperity on international tourism expenditure. Tourism Review, 73(1), 44–54.
   Web of Science ®Google Scholar
• Sokhanvar, A., Çiftçioğlu, S., & Javid, E. (2018). Another look at tourism-economic development nexus. Tourism Management Perspectives, 26, 97–106.
   Web of Science ®Google Scholar
• Travel, W., & Council, T. (2015). Travel and tourism economic impact: European Union. London, UK: World Travel and Tourism Council.
   Google Scholar
• United Nations Environment Programme UNEP (2006). Practical guide to good practice: Managing environment social issues in accommodations sector. Last accessed, December, 2006. United Kingdom.
   Google Scholar
• Westerlund, J. (2007). Testing for error correction in panel data. Oxford Bulletin Of Economics and Statistics, 69(6), 709-748. doi:10.1111/obes.2007.69.issue-6
   Web of Science ®Google Scholar
• World Development Indicators. (2017). World Bank. Washington, DC.
   Google Scholar