A study on the validity of the tourism-led growth hypothesis in the Philippines

• 主要作者: FERNANDEZ, FRANCINE CLAIRE
• 格式: text
• 出版: Archīum Ateneo 2017
• 主題: Tourism > Economic aspects > Philippines; Tourism; Economic development > Mathematical models.
• 在線閱讀: https://archium.ateneo.edu/theses-dissertations/31; http://rizalls.lib.admu.edu.ph/#section=resource&resourceid=1191853096&currentIndex=0&view=fullDetailsDetailsTab
• 機構: Ateneo De Manila University

This paper explored the validity of the Tourism-Led Growth Hypothesis in the Philippine context. It utilized a theoretical model developed by Feder (1982) as well as an empirical model developed by Corts-Jimnez and Pulina (2009), with some modifications from the researcher. The Johansen Test for Cointegration was used to verify the existence of cointegrating vectors in the model, while the Vector Error Correction Model (VECM) was used to determine the directionality of the Granger causal relationship among the variables. The results of the tests verified the existence of a unidirectional Granger causal relationship running from tourism activity, physical capital and human capital to economic growth, confirming the validity of the Tourism-Led Growth Hypothesis within the Philippine context.