2021, Volume 74 - Issue 3
RSS feed citation: At RePEc
Publication date: 30 August 2021
THE ROLE OF GENOESE ECONOMISTS IN THE INTRODUCTION OF KEYNESIAN THOUGHT IN ITALYRead the article
TESTING FOR THE TOURISM LED ECONOMIC GROWTH HYPOTHESIS IN SWEDEN WITH STRUCTURAL BREAKSRead the article
DETERMINANTS OF TOURISM DEVELOPMENT: EMPIRICAL EVIDENCE FROM THREE DEVELOPING COUNTRIESRead the article
Antonios ADAMOPOULOS, Hellenic Open University of Greece and University of Western Macedonia, Gravena, Greece
This paper aims at investigating the interrelation between economic growth and tourism in Spain, in the period 1995-2017, by making use of a system equation model. Two-stage least squares method is used in order to examine both the direct and indirect relations between tourism and economic growth taking into account the positive effect of investments on tourism. The empirical results indicates that tourism growth has a positive and direct effect on economic growth for Spain for the examined period 1995-2017. The empirical results of Monte Carlo simulation method indicated that the system equation model is very well simulated, since the simulated values are close to actual values of examined variables.
Economic Growth, Tourism Growth, Spain
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