Wiston Adrián Risso

TL;DR: In this article, the authors studied the impacts on economic growth of a small tourism-driven economy caused by an increase in the growth rate of international tourism demand and presented a formal model and empirical evidence.

TL;DR: The tourism-led growth hypothesis (TLGH) has been investigated empirically in the literature as discussed by the authors, but overall conclusions are mixed and contradictory, with some studies investigating empirically the TLGH, while others do not find any cointegration between international tourism and long-term economic growth.

Abstract: This study investigates the relationships between tourism and economic growth. It does this by examining the South Tyrolean economy using the Johansen cointegration test to obtain a cointegrated vector among the relevant variables and the Granger causality test to investigate causality. Annual GDP data from 1980 to 2006, the number of foreign visitors to South Tyrol, and the relative prices (RP) between South Tyrol and Germany (the source of more than 60% of foreign tourists) are used. The Johansen cointegration test shows that the estimated long‐run elasticity of the real GDP with respect to tourism demand is 0.29 and the Granger causality test shows that causality goes unidirectionally from tourists and RP to real GDP. Therefore, the tourism‐led growth hypothesis is supported empirically in the case of South Tyrol. In other words, in South Tyrol, tourism reinforces long‐run economic growth but economic growth does not reinforce tourism. Impulse response analysis shows that a shock to the number of touri...

TL;DR: This article presented robust results on the empirical relationship among income inequality, innovation, and economic growth for a panel dataset of 74 countries over the period 1996-2014, and estimated pairwise pairwise correlation between income inequality and innovation.

TL;DR: In this paper, the performance of SARIMA models is explored in the context of tourism demand forecasting by using monthly time series of the overnight stays in South Tyrol (Italy) from January 1950 to December 2005.