Tourism and economic growth in Australia: an empirical investigation of causal links

Corrie, Kristen, Stoeckl, Natalie, and Chaiechi, Taha (2013) Tourism and economic growth in Australia: an empirical investigation of causal links. Tourism Economics, 19 (6). pp. 1317-1344.

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Abstract

This paper seeks to determine whether tourism has promoted economic growth in Australia during the last two decades. Specifically, it uses Granger Causality analysis to explore the relationship between (i) tourism expenditure and gross domestic product and (ii) tourism expenditure and expenditure on other factors known to be associated with tourism demand. According to the results, there is a bi-causal link between tourism and economic growth, indicating the possible existence of tourism-led endogenous growth. The results also suggest that food expenditure (specifically expenditure in restaurants, cafés and takeaways) may be the key to growth in the tourism sector. Evidently, expenditure in this sector may facilitate the growth of other industries through the local market, thus kickstarting a system of endogenous growth via tourism.

Item ID: 30927
Item Type: Article (Research - C1)
ISSN: 2044-0375
Keywords: Granger Causality; economic growth; endogenous growth; tourism expenditure; Australia
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Date Deposited: 23 Jan 2014 23:15
FoR Codes: 14 ECONOMICS > 1402 Applied Economics > 140216 Tourism Economics @ 100%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9101 Macroeconomics > 910199 Macroeconomics not elsewhere classified @ 50%
90 COMMERCIAL SERVICES AND TOURISM > 9003 Tourism > 900301 Economic Issues in Tourism @ 50%
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