Testing the empirical link between tourism and competitiveness: Evidence from Puerto Rico

Tourism Economics

Volumn 16, Issue 1, 2010, Pages 217-234

  Croes, Robertico ^a   Rivera, Manuel Antonio ^b  

^a UNIVERSITY OF CENTRAL FLORIDA   (United States)

^b Universidad Del Este   (Puerto Rico)

Author keywords

Cointegration; Competitiveness; Error correction model; Granger causality; Puerto Rico; Tourism spending

Indexed keywords

COINTEGRATION ANALYSIS; COMPETITIVENESS; EMPIRICAL ANALYSIS; ERROR CORRECTION; GRANGER CAUSALITY TEST; NUMERICAL MODEL; TOURISM; TOURISM ECONOMICS;

PUERTO RICO;

EID: 77952778208     PISSN: 13548166     EISSN: None     Source Type: Journal    
DOI: 10.5367/000000010790872114     Document Type: Article

References (67)

1. Adams, P. D., and Parmenter, B. R. (1995), 'An applied general equilibrium analysis of the economic effects of tourism in a quite small, quite open economy', Applied Economics, Vol 27, No 10, pp 985-994.
2. Akaike, H. (1969), 'Fitting autoregressive models for prediction', Annals of the Institute of Statistical Mathematics, Vol 21, No 1, pp 243-247.
3. Akaike, H. (1974), 'Markovian representation of stochastic processes and its application to the analysis of autoregressive moving average processes', Annals of the Institute of Statistical Mathematics, Vol 26, No 1, pp 363-387.
4. Alavi, J., and Yasin, M. M. (2000), 'A systematic approach to tourism policy', Journal of Business Research, Vol 48, No 2, pp 147-156.
5. Balaguer, J., and Cantavella-Jordá, M. (2002), 'Tourism as a long-run economic growth factor: the Spanish case', Applied Economics, Vol 34, No 7, pp 877-884.
6. Buhalis, D. (2000), 'Marketing the competitive destination of the future', Tourism Management, Vol 21, No 1, pp 97-116.
7. Bull, A. (1995), The Economics of Travel and Tourism, Longman, South Melbourne.
8. Chen, C. Y., Sok, P., and Sok, K. (2008), 'Evaluating the competitiveness of the tourism industry in Cambodia: self-assessment from professionals', Asia Pacific Journal of Tourism Research, Vol 13, No 1, pp 41-66.
9. Cheung, Y. W., and Lai, K. S. (1993), 'Finite-sample sizes of Johansen's likelihood ratio tests for cointegration', Oxford Bulletin of Economics and Statistics, Vol 55, No 3, pp 313-328.
10. Croes, R., and Vanegas, S. R. M. (2008), 'Cointegration and causality between tourism and poverty reduction', Journal of Travel Research, Vol 47, No 1, pp 94-103.
11. Crouch, G. I., and Ritchie, J. R. B. (1999), 'Tourism, competitiveness, and societal prosperity', Journal of Business Research, Vol 44, No 3, pp 137-152.
12. Crouch, G. I., and Ritchie, J. R. B. (2005), 'Application of the analytic hierarchy process to tourism choice and decision making: a review and illustration applied to destination competitiveness', Tourism Analysis, Vol 10, No 1, pp 17-25.
13. Crouch, G. I., and Ritchie, J. R. B. (2006), 'Destination competitiveness', in Dwyer, L., and Forsyth, P., eds, International Handbook on the Economics of Tourism, Edward Elgar Publishing, Northampton, MA.
14. Dickey, D. A., and Fuller, W. A. (1979), 'Distribution of the estimators for autoregressive time series with a unit root', Journal of the American Statistical Association, Vol 74, No 366, pp 427-431.
15. Dickey, D. A., and Fuller, W. A. (1981), 'Likelihood ratio statistics for autoregressive time series with a unit root', Econometrica, Vol 49, No 4, pp 1057-1072.
16. Dollar, D., and Wolff, E. N. (1993), Competitiveness, Convergence, and International Specialization, MIT Press, Cambridge, MA.
17. Dritsakis, N. (2004), 'Tourism as a long-run economic growth factor: an empirical investigation for Greece using causality analysis', Tourism Economics, Vol 10, No 3, pp 305-316.
18. Durbarry, R. (2004), 'Tourism and economic growth: the case of Mauritius', Tourism Economics, Vol 10, No 4, pp 389-401.
19. Dwyer, L., and Forsyth, P. (1998), 'Economic significance of cruise tourism', Annals of Tourism Research, Vol 25, No 2, pp 393-415.
20. Dwyer, L., and Kim, C. (2003), 'Destination competitiveness: determinants and indicators', Current Issues in Tourism, Vol 6, No 5, pp 369-414.
21. Dwyer, L., Forsyth, P., and Rao, P. (2000), 'The price competitiveness of travel and tourism: a comparison of 19 destinations', Tourism Management, Vol 21, No 1, pp 9-22.
22. Dwyer, L., Mistilis, N., Forsyth, P., and Rao, P. (2001), 'International price competitiveness of Australia's MICE industry', Progress in Tourism and Hospitality Research, Vol 3, No 2, pp 123-139.
23. Dwyer, L., Mellor, R., Livaic, Z., Edwards, D., and Kim, C. (2004), 'Attributes of destination competitiveness: a factor analysis', Tourism Analysis, Vol 9, No 1-2, pp 91-101.
24. Eadington, W. R., and Redman, M. (1991), 'Economics and tourism', Annals of Tourism Research, Vol 18, No 1, pp 41-56.
25. Ekanayake, E. M. (1999), 'Export and economic growth in Asian developing countries: cointegration and error-correction models', Journal of Economic Development, Vol 24, No 2, pp 43-56.
26. Enders, W. (1995), Applied Econometric Time Series, John Wiley and Sons Inc., New York.
27. Engle, R. F., and Granger, C. W. J. (1987), 'Cointegration and error correction: estimation and testing', Econometrica, Vol 55, No 2, pp 251-276.
28. Enright, M. J., and Newton, J. (2004), 'Tourism destination competitiveness: a quantitative approach', Tourism Management, Vol 25, No 6, pp 777-788.
29. Enright, M. J., and Newton, J. (2005), 'Determinants of tourism destination competitiveness in Asia Pacific: comprehensiveness and universality', Journal of Travel Research, Vol 43, No 4, pp 339-350.
30. Eugenio-Martin, J. L., Morales, N. M., and Scarpa, R. (2004), 'Tourism and economic growth in Latin American countries: a panel data approach', FEEM Working Paper, No 26.
31. Fagerberg, J. (1996), 'Technology and competitiveness', Oxford Review of Economic Policy, Vol 12, No 3, pp 39-51.
32. Fajardo, G. (2002), 'A struggle for identity', Caribbean Business, Vol 30, No 13, pp 24-28.
33. Fuller, W. A. (1976), Introduction to Statistical Time Series, John Wiley, New York.
34. Granger, C. W. J. (1969), 'Investigating causal relations by econometric models and cross-spectral methods', Econometrica, Vol 37, No 3, pp 424-438.
35. Granger, C. W. J. (1988), 'Some recent developments in a concept of causality', Journal of Econometrics, Vol 39, No 1-2, pp 199-211.
36. Gray, P. (1982), 'The contributions of economics to tourism', Annals of Tourism Research, Vol 9, pp 105-125.
37. Gooroochurn, N., and Sugiyarto, G. (2005), 'Competitiveness indicators in the travel and tourism industry', Tourism Economics, Vol 11, No 1, pp 25-43.
38. Hawkins, D. E., and Mann, S. (2007), 'The world bank's role in tourism development', Annals of Tourism Research, Vol 34, No 2, pp 348-363.
39. Hazari, B. R., and Sgro, P. M. (1995), 'Tourism and growth in a dynamic model of trade', The Journal of International Trade and Economic Development, Vol 4, No 2, pp 243-252.
40. Johansen, S. (1988), 'Statistical analysis of cointegration vectors', Journal of Economic Dynamics and Control, Vol 12, No 2-3, pp 231-254.
41. Johansen, S. (1991), 'Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models', Econometrica, Vol 59, No 6, pp 1551-1580.
42. Johansen, S. (1995), Likelihood-based Inference in Cointegrated Vector Autoregressive Models, Oxford University Press, USA.
43. Johansen, S., and Juselius, K. (1990), 'Maximum likelihood estimation and inference on cointegration with applications to the demand for money', Oxford Bulletin of Economics and Statistics, Vol 52, No 2, pp 169-210.
44. Johansen, S., and Juselius, K. (1992), 'Testing structural hypotheses in a multivariate cointegration analysis of the PPP and the UIP for UK', Journal of Econometrics, Vol 53, No 1-3, pp 211-244.
45. Kim, H. J., Chen, M. H., and Jang, S. C. S. (2006), 'Tourism expansion and economic development: the case of Taiwan', Tourism Management, Vol 27, No 5, pp 925-933.
46. Kozak, M., and Rimmington, M. (1999), 'Measuring tourist destination competitiveness: conceptual considerations and empirical findings', International Journal of Hospitality Management, Vol 18, No 3, pp 273-283.
47. Krugman, P. (1996), 'Making sense of the competitiveness debate', Oxford Review of Economic Policy, Vol 12, No 3, pp 17-25.
48. Lall, S. (2001), 'Competitiveness indices and developing countries: an economic evaluation of the global competitiveness report', World Development, Vol 29, No 9, pp 1501-1525.
49. Mackinnon, J. G. (1991), 'Critical values for cointegration tests', in Engle, R. F., and Granger, C. W. J., eds, Long-run Economic Relationships: Readings in Cointegration, Oxford University Press, Oxford, pp 267-276.
50. Mak, J. (2004), Tourism and the Economy: Understanding the Economics of Tourism, University of Hawaii Press, Honolulu, HI.
51. Mangion, M. L., Durbarry, R., and Sinclair, M. T. (2005), 'Tourism competitiveness: price and quality', Tourism Economics, Vol 11, No 1, pp 45-68.
52. Mazanec, J. A., Wöber, K., and Zins, A. H. (2007), 'Tourism destination competitiveness: from definition to explanation?', Journal of Travel Research, Vol 46, No 1, pp 86-95.
53. Mihalic, T. (2000), 'Environmental management of a tourist destination: a factor of tourism competitiveness', Tourism Management, Vol 21, No 1, pp 65-78.
54. Miller, S. M., and Russek, F. S. (1990), 'Co-integration and error-correction models: the temporal causality between government taxes and spending', Southern Economic Journal, Vol 57, No 1, pp 221-229.
55. Perez-Serrano, M. (2005), 'Puerto Rico Tourism Co.'s fiscal 2006 budget reaches $119 million', Caribbean Business, Vol 33, No 22, pp 25.
56. Perron, P. (1990), 'Testing for a unit root in a time series with a changing mean', Journal of Business and Economic Statistics, Vol 8, No 2, pp 153-162.
57. Phillips, P. C. B., and Perron, P. (1988), 'Testing for a unit root in time series regression', Biometrika, Vol 75, No 2, pp 335-346.
58. Porter, M. E. (1990), The Competitive Advantage of Nations, Free Press, New York.
59. Porter, M. E., Schwab, K., Sachs, J., Cornelius, P. K., and McArthur, J. W. (2002), The Global Competitiveness Report 2001-2002: World Economic Forum, Geneva, Switzerland 2001, Oxford University Press, Oxford.
60. Schwarz, G. (1978), 'Estimating the dimension of a model', The Annals of Statistics, Vol 6, No 2, pp 461-464.
61. Shan, J., and Wilson, K. (2001), 'Causality between trade and tourism: empirical evidence from China', Applied Economics Letters, Vol 8, No 4, pp 279-283.
62. Sinclair, M. T., and Stabler, M. (1997), The Economics of Tourism, Routledge, London.
63. Smeral, E. (2003), 'A structural view of tourism growth', Tourism Economics, Vol 9, No 1, pp 7-93.
64. US Department of Commerce (1979), Economic Study of Puerto Rico, US Government Printing Office, Washington, DC, pp 13-18.
65. Vanegas, M., and Croes, R. R. (2003), 'Growth, development and tourism in a small economy: evidence from Aruba', International Journal of Tourism Research, Vol 5, No 5, pp 315-330.
66. Vanhove, N. (2005), The Economics of Tourism Destinations, Butterworth-Heinemann, Oxford.
67. WTTC (World Travel and Tourism Council) (2004), The Caribbean: The Impact of Travel and Tourism on Jobs and the Economy, WTTC, London.