Testing tourism-led growth hypothesis in Laos?
Purpose: The purpose of this paper is to investigate the tourism-led growth hypothesis in Laos. Design/methodology/approach: The authors test the tourism-led growth hypothesis using autoregressive distributed lag (ARDL) cointegration estimation (Pesaran et al., 2001) and Granger causality tests. Findings: The results of this paper show that when tourism is forcing variable, there is no long-run relationship between tourism development and economic growth. The Granger causality test demonstrates that there is a uni-directional causality running from economic growth in tourism. Social implications: The empirical results and policy recommendation may be useful for other small developing countries. Originality/value: This study is the first study to investigate the relationship between tourism development and growth in Laos, using a relatively new econometric approach – ARDL bound testing.
Year of publication: |
2018
|
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Authors: | Kyophilavong, Phouphet ; Gallup, John Luke ; Charoenrat, Teerawat ; Nozaki, Kenji |
Published in: |
Tourism Review. - Emerald, ISSN 1660-5373, ZDB-ID 2412174-5. - Vol. 73.2018, 2 (14.05.), p. 242-251
|
Publisher: |
Emerald |
Saved in:
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