Open Access

Does tourism contribute significantly to the Greek economy? A multiplier analysis


Cite

[1] Alcidi, C., & Gros, D. (2012). Why is the Greek economy collapsing? A simple tale of high multipliers and low exports. CEPS Commentary, 21 December.Search in Google Scholar

[2] Andrew, B.P. (1997). Tourism and the economic development of Cornwall. Annals of Tourism Research, 24(3), 721-735.10.1016/S0160-7383(97)00026-1Search in Google Scholar

[3] Archer, B.H. (1985). Tourism in Mauritius: An Economic Impact Study with Marketing Implications. Tourism Management, 6(1), 50-54.10.1016/0261-5177(85)90055-XSearch in Google Scholar

[4] Archer, B.H. (1995). The impact of international tourism on the economy of Bermuda, 1994. Journal of Travel Research, 34(2), 27-30.10.1177/004728759503400206Search in Google Scholar

[5] Archer, B.H., Sheila, S., & Vane, R. (1974). Tourism in Gwynedd and Economic Study, Cardiff: Wales Tourist Board.Search in Google Scholar

[6] Armstrong, W.E., Daniel, S., & Francis, A.A. (1974). A structural analysis of the Barbados economy, 1968, with an application to the tourist industry. Social and Economic Studies, 23(4), 493-520.Search in Google Scholar

[7] Balaguer, J., & Cantavella-Jorda, M. (2002). Tourism as a long-run economic growth factor: the Spanish case. Applied Economics, 34, 877-84.10.1080/00036840110058923Search in Google Scholar

[8] Bank of Greece (2015). Bulletin of Conjunctural Indicators, various issues.Search in Google Scholar

[9] Bryden, J.M. (1973). Tourism and Development: A Case Study of the Commonwealth Caribbean, Anglia: Overseas Development Group, University of East Anglia.Search in Google Scholar

[10] Candela, G. & Figini, P. (2012). The Economics of Tourism Destinations. Springer-Verlag Berlin Heidelberg.Search in Google Scholar

[11] Cooper, C.P. Fletcher, J., Gilbert, D., Shephard, R., & Wanhill, S. (2008). Tourism: Principles and Practice. 4th edition, New York: Longman.Search in Google Scholar

[12] Crespo, N., & Diaz, S.N. (1997). Cuban Tourism in 2007: Economic Impact. [Online] Available: http://lanic.utexas.edu/la/cb/cuba/asce/cuba7/crespo.pdf (August 2, 2005).Search in Google Scholar

[13] Diamond, J. (1976). Tourism and Development Policy: A Quantitative Appraisal. Bulletin of Economic Research, 28(1), 36-50.10.1111/j.1467-8586.1976.tb00122.xSearch in Google Scholar

[14] Dickey, D., & Fuller, W.A. (1981). Likelihood ration statistics for autoregressive time series with a unit root. Econometrica, 49, 1057-1072.10.2307/1912517Search in Google Scholar

[15] Dritsakis, N. (2004). Tourism as a long-run economic growth factor: an empirical investigation for Greece using a causality analysis. Tourism Economics, 10, 305-316.10.5367/0000000041895094Search in Google Scholar

[16] Durbarry, R. (2002). The economic contribution of tourism in Mauritius. Annals of Tourism Research, 29(3), 862-865.10.1016/S0160-7383(02)00008-7Search in Google Scholar

[17] Durbarry, R. (2004). Tourism and economic growth: the case of Mauritius. Tourism Economics, 10, 389-401.10.5367/0000000042430962Search in Google Scholar

[18] Engle, R.F., & Granger, C.W.J. (1987). Cointegration and error correction: representation, estimation and testing, Econometrica, 55, 251-276.10.2307/1913236Search in Google Scholar

[19] Eugenio-Martin, J.L., & Morales, N.M. (2004). Tourism and economic growth in Latin American countries: A panel data approach. Social Science Research Network Electronic Paper.10.2139/ssrn.504482Search in Google Scholar

[20] European Central Bank (2015). Statistical Data Warehouse, http://sdw.ecb.europa.eu/browse.do?node=2018795.Search in Google Scholar

[21] Fasenmaier, D.R., Jones, L., Um, S., & Ozuna, T. (1989). Assessing the economic impact of outdoor recreation travel to the Texas gulf coast. Journal of Travel Research, 28(1), 18-23.10.1177/004728758902800104Search in Google Scholar

[22] Foundation for Economic & Industrial Research (FEIR). (2012). The impact of tourism in the Greek economy. September 2012 (in Greek).Search in Google Scholar

[23] Gunduz, L., & A., Hatemi-J. (2005). Is the tourism-led growth hypothesis valid for Turkey?. Applied Economics Letters, 12(8), 499-504.10.1080/13504850500109865Search in Google Scholar

[24] Heng, T.M., & Low, L. (1990). Economic Impact of Tourism in Signapore. Annals of Tourism Research, 17(2), 246-269.10.1016/0160-7383(90)90086-7Search in Google Scholar

[25] Hellenic Statistical Authority (2015). The Greek Economy, various issues.Search in Google Scholar

[26] Johansen, S. (1988). Statistical analysis of cointegrating vectors. Journal of Economic Dynamics Control, 12, 231-254.10.1016/0165-1889(88)90041-3Search in Google Scholar

[27] Johansen, S., & Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration with applications to the demand for money. Oxford Bulletin of Economics and Statistics, 52, 169-210.10.1111/j.1468-0084.1990.mp52002003.xSearch in Google Scholar

[28] Kasimati, E. (2011). Economic Impact of Tourism on Greece’s economy: cointegration and causality analysis. International Research Journal of Finance and Economics, 79, 79-85.Search in Google Scholar

[29] Khan, H., Phang, S., & Toh, R.S. (1995). Singapore’s Hospitality Industry: The Multiplier Effect. Cornell Hotel and Restaurant Administration Quarterly, 36(1), 64-74.10.1016/S0010-8804(99)80060-3Search in Google Scholar

[30] Khan, H., Seng, C.F., & Cheong, W.K. (1990). Tourism Multiplier Effects on Singapore. Annals of Tourism Research, 17(3), 408-409.10.1016/0160-7383(90)90006-DSearch in Google Scholar

[31] Lagos, D. (2009). Multiplier Analysis and Tourism Development. 2nd International conference: Quantitative and Qualitative methodologies in the Economic and Administrative Sciences, TEI of Athens: 25-27 May 2009.Search in Google Scholar

[32] Lee, C.C., & Chang, C.P. (2008). Tourism development and economic growth: a closer look at panels. Tourism management, 29, 180-192.10.1016/j.tourman.2007.02.013Search in Google Scholar

[33] Liu, J.C. (1986). Relative economic contributions of visitor groups in Hawaii. Journal of Travel Research, 25(1), 2-9.10.1177/004728758602500101Search in Google Scholar

[34] Liu, J.C., & Var, T. (1983). The economic impact of tourism in Metropolitan Victoria, BC. Journal of Travel Research, 22(2), 8-15.10.1177/004728758302200202Search in Google Scholar

[35] Mazumder, M.N.H., Ahmed, E.M., & Al-Amin, A.Q. (2009). Does Tourism Contribute Significantly to the Malaysian Economy? Multiplier Analysis Using I-O Technique. International Journal of Business and Management, 7(4), 146-159.10.5539/ijbm.v4n7p146Search in Google Scholar

[36] Montalvo, J.G.(1995). Comparing cointegrating regression estimators: some additional Monte Carlo results. Economics Letters, 48, 229-234.10.1016/0165-1765(94)00632-CSearch in Google Scholar

[37] Nelson, C.R., & Plosser, C.I. (1982). Trends and Random Walks in Macroeconomic Time Series: Some evidence and implications. Journal of Monetary Economics, 10, 139-162.10.1016/0304-3932(82)90012-5Search in Google Scholar

[38] OECD (2014). Country Profiles: Tourism Trends and Policies- Greece. OECD.10.1787/g2e7e4fcc-enSearch in Google Scholar

[39] Oh, C.O. (2005). The contribution of tourism development to economic growth in the Korean economy. Tourism Management, 26, 39-44.10.1016/j.tourman.2003.09.014Search in Google Scholar

[40] Phillips, P.C.B., & Perron, P. (1988). Testing for a unit root in time series regression. Biometrika, 75, 335-346.10.1093/biomet/75.2.335Search in Google Scholar

[41] Ruiz, A.L. (1985). Tourism and the economy of Puerto Rico: An Input-Output Approach. Tourism Management, 6(1), 61-65.10.1016/0261-5177(85)90057-3Search in Google Scholar

[42] Teisl, M.F., & Reiling, S.D. (1990). Tourism and Local Government expenditures and revenues. The Maine Business Research Report Agricultural and Resource Economics Staff Paper. Maine: University of Maine.Search in Google Scholar

[43] Vilaplana, J., Pai, D.Y., & Hushak, L.J. (1991). Supply side benefits of fisheries: estimation of economic impacts using IMPLAN. In paper presented at the IMPLAN Workshop. Columbus, OH: The Ohio State University.Search in Google Scholar

[44] WOF. (2013). The Travel & Tourism Competitiveness Report 2013. World Economic Forum.Search in Google Scholar

[45] WTTC. (2013). Greece: Travel and Tourism Economic Impact, London: World Travel & Tourism Council.Search in Google Scholar

[46] WTTC. (2014). Greece: Travel and Tourism Economic Impact, London: World Travel & Tourism Council.Search in Google Scholar

[47] Zortuk, M. (2009). Economic Impact of Tourism on Turkey’s economy: Evidence from Cointegration Tests. International Research Journal of Finance and Economics, 25, 231-239. Search in Google Scholar

eISSN:
2182-4924
Language:
English