Is the tourism-led growth hypothesis valid after the global economic and financial crisis? The case of Spain 1957–2014

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Title: Is the tourism-led growth hypothesis valid after the global economic and financial crisis? The case of Spain 1957–2014
Authors: Perles Ribes, José Francisco | Ramón-Rodríguez, Ana B. | Rubia Serrano, Antonio | Moreno-Izquierdo, Luis
Research Group/s: Economía del Turismo, Recursos Naturales y Nuevas Tecnologías (INNATUR) | Internacionalización de la Empresa y Comercio Exterior | Finanzas de Mercado y Econometría Financiera
Center, Department or Service: Universidad de Alicante. Departamento de Análisis Económico Aplicado | Universidad de Alicante. Departamento de Economía Financiera y Contabilidad
Keywords: Tourism-led growth hypothesis | Spain | Granger causality | Bounds testing | Toda-Yamamoto procedure
Knowledge Area: Economía Aplicada | Economía Financiera y Contabilidad
Issue Date: Aug-2017
Publisher: Elsevier
Citation: Tourism Management. 2017, 61: 96-109. doi:10.1016/j.tourman.2017.01.003
Abstract: Since the first paper on the subject was published in 2002, the tourism-led growth hypothesis (TLGH) has constituted one of the most predominant topics in tourism literature. Spain is a leading country in the tourism industry and one where this hypothesis has been tested with several studies confirming the relationship between Spain's tourism development and its economic growth. However, the existing studies for Spain do not take into account recent turbulences such as the Global Financial and Economic Crisis and the Arab Spring uprisings that have shocked tourism markets. This paper re-examines the TLGH for the Spanish case in the light of these events in order to investigate the robustness of the relationship between tourism and economic growth.
Sponsor: Financial support from ECO2014-58434-P project is gratefully acknowledged.
ISSN: 0261-5177 (Print) | 1879-3193 (Online)
DOI: 10.1016/j.tourman.2017.01.003
Language: eng
Type: info:eu-repo/semantics/article
Rights: © 2017 Elsevier Ltd.
Peer Review: si
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Appears in Collections:INV - Internacionalización de la Empresa y Comercio Exterior - Artículos de Revistas
INV - Finanzas de Mercado y Econometría Financiera - Artículos de Revistas
INV - INNATUR - Artículos de Revistas

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