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on Tourism Economics |
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Issue of 2005‒10‒29
one paper chosen by Roberto Zanola Universita degli Studi del Piemonte Orientale |
| By: | Christian Fischer; Luis Alberiko Gil-Alana (School of Economics and Business Administration, University of Navarra) |
| Abstract: | This paper deals with the relationship between international trade and tourism. In particular, we focus on the effect that German tourism to Spain has on German imports of Spanish wine. Due to the different stochastic properties of the series under analysis, which display different orders of integration, we use a methodology based on long memory regression models, where tourism is supposed to be exogenous. The results show that at the aggregate level, tourism has an effect on wine imports that lasts between two and nine months. Disaggregating the imports across the different types of wine it is observed that only for red wines from Navarra, Penedús and Valdepeñas, and to a certain extent for sparkling wine, tourism produces an effect on its future demand. From a policy-making perspective our results imply that the impact of tourism on the host economy is not only direct and short-term but also oblique and delayed, thus reinforcing the case for tourism as a means for economic development. |
| JEL: | F14 C22 Q13 L83 |
| Date: | 2005–10 |
| URL: | http://d.repec.org/n?u=RePEc:una:unccee:wp1505&r=tur |