Izvorni znanstveni članak
https://doi.org/10.37741/t.68.1.4
Testing tourism-led economic growth and economic-driven tourism growth hypotheses: The case of Georgia
Khatai Aliyev
orcid.org/0000-0001-8161-6269
; UNEC Empirical Researches Center, Azerbaijan State University of Economics (UNEC); Department of World Economy, Baku Engineering University, Baku, Azerbaijan
Nargiz Ahmadova
; Central Bank of the Republic of Azerbaijan, Monetary Policy Department, Financial Programming Division, Baku, Azerbaijan
Sažetak
This paper empirically investigates a causal relationship between tourism and economic growth in Georgia for 1997-2018 period by employing ARDLBT approach to cointegration. Results reject economic-driven tourism growth hypothesis for Georgia and reveal that impact of tourism development over economic growth is negative in the long-run, in contrary positive in the short-run. Obtained results suggest that there is a possibility to have a tourism resource curse in the long-term in Georgia. Georgian government should build a tourism strategy to avoid crowding out of human capital from industrial production and decrease the share of imports for the needs of tourism sector.
Ključne riječi
tourism-led growth; economic-driven tourism; tourism resource curse; crowding out; Georgia
Hrčak ID:
236228
URI
Datum izdavanja:
27.3.2020.
Posjeta: 2.926 *