DOES TOURISM FOSTER HUMAN DEVELOPMENT? ARDL COINTEGRATION APPROACH ANALYSIS FOR UTAH

This paper analyses the empirical cointegration, long-term and short-term dynamics between tourism, economic growth, and human development for Utah for the 1990-2018 period. The results from the ARDL analysis verified the existence of a long-term relationship between the variables. The Granger causa...

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Bibliographic Details
Published in:Southwestern economic review 2022-01, Vol.49, p.1-26
Main Authors: Sotomayor, Maritza, Aristondo, Jhana
Format: Article
Language:English
Subjects:
Causality
Developing countries
Economic conditions
Economic development
Economic growth
Employment
Hypotheses
LDCs
Quality of life
Tourism
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Summary:This paper analyses the empirical cointegration, long-term and short-term dynamics between tourism, economic growth, and human development for Utah for the 1990-2018 period. The results from the ARDL analysis verified the existence of a long-term relationship between the variables. The Granger causality tests confirm unidirectional causation from tourism and economic growth to human development, while there is a bi-directional causality from tourism and economic growth. Furthermore, the results show that tourism has significant positive effects on human development in the long and short term. That implies that investment in tourism activities can serve as a tool for human development in the state of Utah. JEL Classification: Cl, C32, 010
ISSN:1941-7683
1941-7691