期刊
JOURNAL OF HOSPITALITY AND TOURISM MANAGEMENT
卷 43, 期 -, 页码 42-52出版社
ELSEVIER
DOI: 10.1016/j.jhtm.2020.02.005
关键词
Tourism-led growth hypothesis; Globalization; CO2 emissions; Energy use
This paper validates the tourism-led growth hypothesis for a panel of selected OECD countries, including the effects of per capita CO2, globalization and energy use during the period 1994-2014. The long-term relationship between economic growth and the above-mentioned variables is confirmed by applying unit root tests and cointegration approaches. The Generalized Method of Moments (GMM) methodology confirms a N-shaped relationship between international tourism and per capita economic growth. Globalization does not appear to be very effective in the short run for promoting economic growth; its impact on growth is determined through a finite-lag distribution, as the optimal effect can only be achieved in the long term. A direct relationship is detected between economic growth, energy use and globalization. The recommendation is to reshape regulatory frameworks with a clearer focus on promoting international tourism and more efficient energy use as a means of enhancing sustainable economic growth in developed countries. The empirical results reveal that fossil fuels account for a large part of the energy mix, so policy makers should consider reinforcing the promotion of clean energy sources and the use of more efficient processes.
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