{"title":"International Tourism and Economic Growth: Empirical Evidence from BRICS Countries","authors":"Pk Mishra, H. B. Rout, Debasis Sahoo","doi":"10.46222/ajhtl.19770720.202","DOIUrl":null,"url":null,"abstract":"The aim of the study was to examine the tourism-growth nexus in the context of BRICS nations. For this purpose, the augmented neo-classical growth framework has been employed a panel data model approach over the sample period spanning from 1995 to 2019. The estimation was conducted using PMG based ARDL regression. The results lend support to the tourism-led growth hypothesis when the capital formation and human development exert a positive impact on the long-run real economic growth in BRICS economies. So, the policies meant for tourism sector development can contribute to long-run economic growth through an increase in the share of gross capital formation in the gross domestic product and with the help of improved human development. Therefore, the policy focus should be on infrastructure development, the promotion of investment opportunities, and the development of healthcare and education in BRICS countries. The use of a macroeconomic framework in the analysis is the novelty of this study.","PeriodicalId":37588,"journal":{"name":"African Journal of Hospitality, Tourism and Leisure","volume":" ","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"African Journal of Hospitality, Tourism and Leisure","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.46222/ajhtl.19770720.202","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 1
Abstract
The aim of the study was to examine the tourism-growth nexus in the context of BRICS nations. For this purpose, the augmented neo-classical growth framework has been employed a panel data model approach over the sample period spanning from 1995 to 2019. The estimation was conducted using PMG based ARDL regression. The results lend support to the tourism-led growth hypothesis when the capital formation and human development exert a positive impact on the long-run real economic growth in BRICS economies. So, the policies meant for tourism sector development can contribute to long-run economic growth through an increase in the share of gross capital formation in the gross domestic product and with the help of improved human development. Therefore, the policy focus should be on infrastructure development, the promotion of investment opportunities, and the development of healthcare and education in BRICS countries. The use of a macroeconomic framework in the analysis is the novelty of this study.
期刊介绍：
AJHTL is a proudly African, independent, privately owned multidisciplinary peer-reviewed journal, not aligned to any institution which is published quarterly. We encourage academic debate and are fully electronic and dedicated to increasing the depth of research across a range of related disciplines with the primary objective of promoting research. New researchers are especially welcome to submit articles to us for consideration. Our articles are read by scholars, students and industry globally. Only authors may submit a paper for review and only original research is considered for publication. Articles that have been either published elsewhere or which are currently considered for publication elsewhere, must not be submitted for reviewing. A journal publication might take from about one month up to one nine months to appear. The reviewing process is competitive with less than 69% of papers considered finally being accepted for publication. Authors must be certain that their paper meets the academic standards of rigorous scholarly research. Authors must have reviewed and cited the critical and recent English references that relate to the research paper. Where other language references are used these must be translated. Articles must be English language edited by authors prior to submission to the journal.
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