Examining the Tourism-Led Growth Hypothesis, Agricultural-Led Growth Hypothesis and Economic Growth in Top Agricultural Producing Economies

Authors

  • Mfonobong Udom Etokakpan Department of Economics, Famagusta, Eastern Mediterranean University, North Cyprus, via Mersin 10, Turkey, Economics Department, Babcock University, Ogun State, Nigeria. E-mail: etokakpanmfonudom@yahoo.com
  • Festus Victor Bekun Institute of Graduate Studies and Research Faculty of Business and Economics, Department of Economics, Famagusta, Eastern Mediterranean University, North Cyprus, via Mersin 10, Turkey. E-mail: festus.bekun@emu.edu.tr
  • A. Mohammed Abubakar College of Business Antalya Bilim University, Turkey. E-mail: mohammed.abubakar@antalya.edu.tr

Keywords:

Tourism-led growth hypothesis, Agricultural-led growth hypothesis, Panel data econometrics

Abstract

Most nations are striving to achieve sustainable economic growth. Among the diverse routes explored are tourism and agriculture. This study examines tourism-led growth hypothesis and agriculture-induced growth hypothesis in the context of the world top four agricultural producing economies in a multivariate balanced panel framework between 1995 and 2015. The findings from the bootstrap panel co-integration tests do not support a long-run relationship among the variables. Subsequently, causality test reveals a feedback relationship between international tourism receipt and economic growth. Thus, the tourism-led growth hypothesis is affirmed, while a uni-directional causality runs from agriculture to economic growth. Our findings affirm both the tourism-led and agriculture-led growth hypotheses. Hence, tourism and agriculture sectors are twin growth catalysts in the selected states, that is, both tourism and agriculture sectors have complementary effect on economic growth in the bloc investigated.

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Published

2019-03-01

How to Cite

Etokakpan, M., Bekun, F., & Abubakar, A. (2019). Examining the Tourism-Led Growth Hypothesis, Agricultural-Led Growth Hypothesis and Economic Growth in Top Agricultural Producing Economies. European Journal of Tourism Research, 21, 132–137. Retrieved from https://ejtr.vumk.eu/index.php/about/article/view/364