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The Contribution of Tourism Development to Economic Growth of Sweden: A Panel Data Approach

Ajvaz, Vladana LU (2015) EKHM52 20151
Department of Economic History
Abstract
By using panel data for 21 counties in Sweden from 2003 to 2013, the purpose of this study is to examine the relationship between tourism development and economic growth in this country, within the neoclassical growth framework. To address the objective of this study, the appropriate panel data methods are used, namely both static and dynamic panel approaches. The results show that tourism is a positive and significant determinant of Swedish economic growth. Moreover, the tourism coefficient proves its robustness through majority of performed estimations.
Therefore, this study supports the existence of the tourism-led growth hypothesis in this Scandinavian country, which is in line with our expectations. Hence, macroeconomic policies that... (More)
By using panel data for 21 counties in Sweden from 2003 to 2013, the purpose of this study is to examine the relationship between tourism development and economic growth in this country, within the neoclassical growth framework. To address the objective of this study, the appropriate panel data methods are used, namely both static and dynamic panel approaches. The results show that tourism is a positive and significant determinant of Swedish economic growth. Moreover, the tourism coefficient proves its robustness through majority of performed estimations.
Therefore, this study supports the existence of the tourism-led growth hypothesis in this Scandinavian country, which is in line with our expectations. Hence, macroeconomic policies that promote tourism expansion will directly stimulate economic growth and this is expected to happen in the future since Swedish tourism capacity is still not used at its full potential. (Less)
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author
Ajvaz, Vladana LU
supervisor
organization
course
EKHM52 20151
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Sweden, panel data, economic growth, Tourism
language
English
id
7860371
date added to LUP
2015-09-08 09:36:03
date last changed
2015-09-08 09:36:03
@misc{7860371,
  abstract     = {By using panel data for 21 counties in Sweden from 2003 to 2013, the purpose of this study is to examine the relationship between tourism development and economic growth in this country, within the neoclassical growth framework. To address the objective of this study, the appropriate panel data methods are used, namely both static and dynamic panel approaches. The results show that tourism is a positive and significant determinant of Swedish economic growth. Moreover, the tourism coefficient proves its robustness through majority of performed estimations.
Therefore, this study supports the existence of the tourism-led growth hypothesis in this Scandinavian country, which is in line with our expectations. Hence, macroeconomic policies that promote tourism expansion will directly stimulate economic growth and this is expected to happen in the future since Swedish tourism capacity is still not used at its full potential.},
  author       = {Ajvaz, Vladana},
  keyword      = {Sweden,panel data,economic growth,Tourism},
  language     = {eng},
  note         = {Student Paper},
  title        = {The Contribution of Tourism Development to Economic Growth of Sweden: A Panel Data Approach},
  year         = {2015},
}