Title of article :
The Relationship between Foreign Direct Investment and Tourism Development: Evidence from Developing Countries
Author/Authors :
Jafari Samimi, Ahmad university of mazandaran, بابلسر, ايران , Sadeghi, Somaye islamic azad university, ايران , Sadeghi, Soraya islamic azad university, ايران
Abstract :
This paper investigates the existence of Granger causality and co-integrated relationships between tourism related Foreign Direct Investment (FDI) and tourism development in developing countries using panel VECM techniques from 1995 to 2008. The results confirm the existence of a co-integrated relationship between variables in the long run. In addition, there is a bilateral long-run causality between tourism related FDI and tourism development, while there is no short-run causality between variables.
Keywords :
developing countries , Foreign Direct Investment , panel VECM , tourism industry
Journal title :
Institutions and Economies
Journal title :
Institutions and Economies
