Air transport demand and economic growth in Brazil: A time series analysis
We investigate the relationship between air transport demand (passenger-kilometer: PAX) and economic growth (GDP) between 1966 and 2006 in Brazil. Special attention is paid to stationary features and the existence of a long-run equilibrium between variables to work in a vector autoregressive environment. Our findings suggest that GDP and PAX are co-integrated. Impulse-response analysis indicates a strong positive reaction of PAX due to a positive change in GDP. However, GDP reacts to a change in PAX in a slower and moderated way. We interpret these findings as an empirical evidence of air transport multiplier effects in the economy.
Year of publication: |
2010
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Authors: | Marazzo, Marcial ; Scherre, Rafael ; Fernandes, Elton |
Published in: |
Transportation Research Part E: Logistics and Transportation Review. - Elsevier, ISSN 1366-5545. - Vol. 46.2010, 2, p. 261-269
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Publisher: |
Elsevier |
Keywords: | Air transport demand Time series Co-integration Error correction model |
Saved in:
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