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dc.contributor.authorJaforullah, Mohammad
dc.identifier.citationJaforullah, M. (2015). International tourism and economic growth in New Zealand (Economics Discussion Papers Series No. 1502). University of Otago. Retrieved from
dc.identifier.issn1178-2293 (Online)
dc.description.abstractThis paper examines whether the tourism-led growth hypothesis holds for the New Zealand economy. Using unit root tests, cointegration tests and vector error correction models, and annual data over the period 1972-2012 on international tourism expenditure, real gross domestic product (GDP) and the exchange rate for New Zealand, it finds that the tourism-led growth hypothesis holds for New Zealand. The long-run elasticity of real GDP with respect to international tourism expenditure is estimated to be 0.4, meaning that a 1% growth in tourism will result in a 0.4% growth of the NZ economy. This finding implies that the New Zealand Government’s policy to promote New Zealand as a preferred tourism destination in the key international tourism markets may boost economic growth.en_NZ
dc.publisherUniversity of Otagoen_NZ
dc.relation.ispartofseriesEconomics Discussion Papers Seriesen_NZ
dc.rightsAttribution-NonCommercial-ShareAlike 4.0 International*
dc.subjectEconomic growthen_NZ
dc.subjectGranger causalityen_NZ
dc.subjectvector error correction modelen_NZ
dc.subjectNew Zealanden_NZ
dc.titleInternational tourism and economic growth in New Zealanden_NZ
dc.typeDiscussion Paperen_NZ
otago.schoolOtago Business School / Department of Economicsen_NZ
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Attribution-NonCommercial-ShareAlike 4.0 International
Except where otherwise noted, this item's licence is described as Attribution-NonCommercial-ShareAlike 4.0 International