Original scientific paper

Economic Growth and Tourism Demand in Croatia: the Cyclical Component Analysis

Tonći Svilokos ; University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia
Meri Šuman Tolić ; University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia
Ivana Pavlić ; University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia

Abstract

Development of tourism has often been considered as a positive contributor to economic growth. The impact of tourism to a country economy is multifaceted. As such, tourism may represent an excellent tool for development. This paper presents preliminary findings using descriptive statistics and spectral analysis. Therefore, the main purpose of this research is to examine the relationship between the cyclical components of Croatian economy for periods 1972-2013. Using spectral analysis the authors compare the cyclical fluctuations of gross domestic product (GDP) and total tourist arrivals. VAR analysis is also applied in order to detect the relationship between analysed cyclical components in Croatia.

Keywords

tourist arrivals; economic growth; cycle components; VAR; Croatia

Hrčak ID:

130323

URI

https://hrcak.srce.hr/130323

Publication date:

1.12.2014.

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