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Investigating the Influence of Tourism on Economic Growth And Carbon Emissions: Evidence from Panel Analysis of the European Union

Lee, J.W. and Brahmasrene, T. (2013). 'Investigating the Influence of Tourism on Economic Growth and Carbon Emissions: Evidence from Panel Analysis of the European Union.' Tourism Management, Vol. 38, pp. 69-76.

Posted: 8 Jun 2013 Last revised: 14 Nov 2015

Jung Wan Lee

Boston University

Tantatape Brahmasrene

Purdue University North Central

Date Written: February 23, 2013

Abstract

The study investigates the influence of tourism on economic growth and CO2 emissions. In the empirical analysis, unit root and cointegration tests using panel data of European Union countries from 1988 to 2009 are performed to examine the long-run equilibrium relationship among tourism, CO2 emissions, economic growth and foreign direct investment (FDI). Results from panel cointegration techniques and fixed-effects models indicate that a long-run equilibrium relationship exists among these variables. Furthermore, tourism, CO2 emissions and FDI have high significant positive effect on economic growth. Economic growth, in turns, shows a high significant positive impact on CO2 emissions while tourism and FDI incur a high significant negative impact on CO2 emissions.

Keywords: tourism, economic growth, carbon emissions, foreign direct investment, European Union

JEL Classification: Q2, R1, Z

Suggested Citation

Lee, Jung Wan and Brahmasrene, Tantatape, Investigating the Influence of Tourism on Economic Growth And Carbon Emissions: Evidence from Panel Analysis of the European Union (February 23, 2013). Lee, J.W. and Brahmasrene, T. (2013). 'Investigating the Influence of Tourism on Economic Growth and Carbon Emissions: Evidence from Panel Analysis of the European Union.' Tourism Management, Vol. 38, pp. 69-76. . Available at SSRN: https://ssrn.com/abstract=2276029

Jung Wan Lee (Contact Author)

Boston University ( email )

808 Commonwealth Avenue
Boston, MA 02215
United States

HOME PAGE: http://www.bu.edu/met

Tantatape Brahmasrene

Purdue University North Central ( email )

1401 South US 421
Westville, IN 46391
United States

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