Turismo y Crecimiento Economico: Un Analisis Empirico de Colombia (Tourism and Economic Growth: An Empirical Analysis for the Case of Colombia)

Estudios y Perspectivas en Turismo, Vol. 18, No. 1, pp. 21-35, 2009

26 Pages Posted: 12 Feb 2008 Last revised: 16 Jun 2011

See all articles by María Jesús Such-Devesa

María Jesús Such-Devesa

Universidad de Alcalá

Sandra Zapata-Aguirre

Universidad de la Republica - Facultad de Ciencias Económicas y de Administración; Universidad de la Republica

Wiston Adrián Risso

University of Siena - Department of Economics

Juan Gabriel Brida

Universidad de la República

Juan Sebastián Pereyra

Universidad de la República - Facultad de Ciencias Económicas; El Colegio de México

Date Written: February 1, 2008

Abstract

In this paper we investigate the contribution of tourism to economic growth in Colombia. We first use the growth of real GDP per capita disaggregating it into economic growth generated by tourism and by other industries. This measure gives information of past performance of tourism in Colombia indicating the fraction of the growth of real GDP that corresponds to tourism activities. Secondly, we analyse the effects of tourism expenditure in Colombia by using quarterly data and the Johansen cointegration test. We show empirical evidence suggesting the existence of one cointegrated vector among real per capita GDP, Colombian tourism expenditure and real exchange rate, where the latter two variables are weakly exogenous to the model. The Granger causality test suggests causality that positively generates in one way from tourism expenditure to real GDP per capita.

Note: The downloadable document is in Spanish.

Keywords: tourism impacts, economic growth, GDP, cointegration test, causality test

JEL Classification: O10, L83, C22

Suggested Citation

Such-Devesa, María Jesús and Zapata-Aguirre, Sandra and Risso, Wiston Adrián and Brida, Juan Gabriel and Pereyra, Juan Sebastián, Turismo y Crecimiento Economico: Un Analisis Empirico de Colombia (Tourism and Economic Growth: An Empirical Analysis for the Case of Colombia) (February 1, 2008). Estudios y Perspectivas en Turismo, Vol. 18, No. 1, pp. 21-35, 2009. Available at SSRN: https://ssrn.com/abstract=1092407

María Jesús Such-Devesa

Universidad de Alcalá ( email )

Plaza de la Victoria, 2
Alcalá de Henares, Asturias 33011
Spain

Sandra Zapata-Aguirre

Universidad de la Republica - Facultad de Ciencias Económicas y de Administración ( email )

Gonzalo Ramirez 1926
Montevideo, 11200
Uruguay

Universidad de la Republica ( email )

Gonzalo Ramirez 1926
Montevideo, 11200
Uruguay

Wiston Adrián Risso

University of Siena - Department of Economics ( email )

Piazza S. Francesco, 7
Siena, I-53100
Italy
00390577235058 (Phone)

Juan Gabriel Brida (Contact Author)

Universidad de la República ( email )

Av. 18 de Julio
Montevideo, 1968
Uruguay

Juan Sebastián Pereyra

Universidad de la República - Facultad de Ciencias Económicas ( email )

Gonzalo Ramírez 1926
CP 11200 Montevideo
Uruguay

El Colegio de México ( email )

Gonzalo Ramírez 1926
CP 11200 Montevideo
Uruguay

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