The effects of air transportation, energy, ICT and FDI on economic growth in the industry 4.0 era: Evidence from the United States

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Título: The effects of air transportation, energy, ICT and FDI on economic growth in the industry 4.0 era: Evidence from the United States
Autor/es: Adedoyin, Festus Fatai | Bekun, Festus Victor | Driha, Oana M. | Balsalobre-Lorente, Daniel
Grupo/s de investigación o GITE: Economía del Turismo, Recursos Naturales y Nuevas Tecnologías (INNATUR)
Centro, Departamento o Servicio: Universidad de Alicante. Departamento de Análisis Económico Aplicado | Universidad de Alicante. Instituto Interuniversitario de Economía Internacional | Universidad de Alicante. Instituto Universitario de Investigaciones Turísticas
Palabras clave: Tourism led growth hypothesis | Air transport | Foreign direct investment | Coal rents | ICTs | Industry 4.0
Área/s de conocimiento: Economía Aplicada
Fecha de publicación: nov-2020
Editor: Elsevier
Cita bibliográfica: Technological Forecasting and Social Change. 2020, 160: 120297. https://doi.org/10.1016/j.techfore.2020.120297
Resumen: This study analyses the causal and long-run linkage between air transport and economic growth. It was conducted to validate the tourism-led growth hypothesis for the United States (US) during the period 1981–2017 and includes Information and Communication Technologies (ICTs) alongside coal rents in the tourism-led growth hypothesis. This study presents a new direction for future studies by considering the relevance of the fourth industrial revolution (Industry 4.0), particularly in the US. To achieve the stated claim, this study considers as additional explanatory variables how ICTs moderate the impact of Foreign Direct Investment (FDI) on GDP. The empirical result confirms a connection between the Industry 4.0 era and the role of ICTs, which promotes substantial changes in the way of life and productivity. This has led to a vast technological advancement, which is in line with but at a faster pace than the technological advancement of previous revolutions. From empirical results, the study provides relevant policy recommendations related to the role of natural resources, new technologies and tourism on US GDP, while it also provides evidence of the positive effect of ICTs over FDI under the Industry 4.0 era.
URI: http://hdl.handle.net/10045/110149
ISSN: 0040-1625 (Print) | 1873-5509 (Online)
DOI: 10.1016/j.techfore.2020.120297
Idioma: eng
Tipo: info:eu-repo/semantics/article
Derechos: © 2020 Elsevier Inc.
Revisión científica: si
Versión del editor: https://doi.org/10.1016/j.techfore.2020.120297
Aparece en las colecciones:INV - INNATUR - Artículos de Revistas

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