Dynamic Panel Data
Hassan Heidari; asall sadeghpour
Volume 6, Issue 21 , November 2015, , Pages 28-11
Abstract
This study uses data from the eight largest Islamic countries known as D-8 for the period 2000 to 2013 concerns to assess the effect of tourism, energy consumption and political instability on economic growth. To address the objective of this study, we utilize both the static panel data approach as well ...
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This study uses data from the eight largest Islamic countries known as D-8 for the period 2000 to 2013 concerns to assess the effect of tourism, energy consumption and political instability on economic growth. To address the objective of this study, we utilize both the static panel data approach as well as the dynamic generalized method of moments (GMM) estimator to examine the impact of candidate variables. Our results show that energy consumption and tourism significantly contribute to the economic growth of countries in the D-8 region. Hence, our study lends some support to the existence of the tourism-led growth and energy-led growth hypotheses in the region. In line with our expectation, our estimation results also reveal that political instability impedes the process of economic growth and development in the D-8 countries. There fore, it should be take serious action in these countries to overcome political instability and attract international tourists to boost economic growth. Since energy consumption has the greatest impact on economic growth in member countries, policies that reduce energy consumption without planning to support the growth of the manufacturing sector in these countries, will have disturbing impact on economic growth.
tourism demand
Parviz Mohammadzadeh; Davood Behbudi; Majid Feshari; Siab Mamipour
Volume 1, Issue 1 , January 2012, , Pages 132-107
Abstract
The main purpose of this paper is to estimate the foreign tourism demand for Iran during 1971-2005. This study proposes a new methodology – the time varying parameter (TVP) approach – to tourism demand modeling. To that end, the behavioral change of tourists over time is traced using the ...
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The main purpose of this paper is to estimate the foreign tourism demand for Iran during 1971-2005. This study proposes a new methodology – the time varying parameter (TVP) approach – to tourism demand modeling. To that end, the behavioral change of tourists over time is traced using the Kalman filter approach. Findings show that the income elasticity, price elasticity and habit formation have a regular declining trend over time. The elasticity of tourism demand with respect to the world per capita income is greater than that of the "cost of living" and "habit formation" indicators. The foreign tourism appears to be a normal good and inelastic to the domestic prices. In addition, tourism demand has decreased significantly during the Iran-Iraq war period.
