Tourism and economic growth: the case of Uruguay
DOI:
https://doi.org/10.25145/j.pasos.2008.06.036Keywords:
economic growth, tourism earnings, Johansen cointegration, test, Granger causalityAbstract
Argentine is the principal source of tourism in the Uruguayan case. Its effects in the economic growth is analyzed in the present paper by using quarterly data from 1987.I to 2006.IV. Co-integration analy- sis shows the existence of one cointegrated vector among real per capita GDP, Argentinean tourism expendi- ture, and real exchange rate between Uruguay and Argentine. Granger-causality test suggests that causality positively goes in one way from expenditure to real per capita GDP.
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