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https://doi.org/10.1080/1331677X.2017.1340173

Tourism foreign direct investment led tourism gross value added: a co-integration and causality analysis of Croatian tourism

Heri Bezić ; Ekonomski fakultet Sveučilišta u Rijeci, Rijeka, Hrvatska
Maja Nikšić Radić orcid id orcid.org/0000-0002-8871-6833 ; Fakultet za menadžment u turizmu i ugostiteljstvu, Sveučilište u Rijeci, Rijeka, Hrvatska


Puni tekst: engleski pdf 1.422 Kb

str. 1443-1460

preuzimanja: 682

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Sažetak

The purpose of this study was to investigate the causal relationship
between foreign direct investment in tourism and tourism gross
value added in Croatia. The study employed econometric techniques,
such as the unit root test, Johansen co-integration, and the Granger
causality test, in a vector error correction model (V.E.C. model), and the
Toda–Yamamoto causality test in a vector autoregressive model (V.A.R.
model), using quarterly time-series data from 2000(1) to 2012(4). The
results confirm the existence of a stable co-integrated relationship
between variables in the long term. A short-term relationship was
also proved between foreign direct investment in tourism and gross
value added, using the Toda–Yamamoto causality test. By including
control variables, the two-way causality between the subject variables
was proven using the Granger causality test.

Ključne riječi

Foreign direct investment in tourism; gross value added; V.E.C. model; .A.R. model; Granger causality test; Toda– Yamamoto causality test

Hrčak ID:

193193

URI

https://hrcak.srce.hr/193193

Datum izdavanja:

1.12.2017.

Posjeta: 1.149 *