Tourism and economic growth: a panel data analysis for Pacific Island countries

Narayan, Paresh Kumar, Narayan, Seema, Prasad, Arti and Prasad, Biman Chand 2010, Tourism and economic growth: a panel data analysis for Pacific Island countries, Tourism economics, vol. 16, no. 1, pp. 169-183.

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Title Tourism and economic growth: a panel data analysis for Pacific Island countries
Author(s) Narayan, Paresh Kumar
Narayan, Seema
Prasad, Arti
Prasad, Biman Chand
Journal name Tourism economics
Volume number 16
Issue number 1
Start page 169
End page 183
Total pages 15
Publisher I P Publishing
Place of publication London, England
Publication date 2010-03
ISSN 1354-8166
Summary The contribution of tourism to the economic growth of Pacific Island countries (PICs) has achieved significance in the past decade. The shift in the economic policies of the PICs from the late 1980s has been decisively away from import substitution and agriculture to urban-based manufacturing and services sectors. Tourism is the main component of the services sector in the PICs. The contribution of tourism to economic growth in Fiji, Tonga, the Solomon Islands and Papua New Guinea is expected to grow. The authors use panel data for the four PICs to test the long-run relationship between real GDP and real tourism exports. They find support for panel cointegration and the results suggest that a 1% increase in tourism exports increases GDP by 0.72% in the long run and by 0.24% in the short run.
Language eng
Field of Research 140216 Tourism Economics
HERDC Research category C1 Refereed article in a scholarly journal
Persistent URL http://hdl.handle.net/10536/DRO/DU:30024699

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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