Analysing the linkage between total factor productivity and tourism growth in Latin American countries

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Purpose: The study aims to investigate the nexus between total factor productivity and tourism growth in Latin American countries for time series data from 1995 to 2017. Design/methodology/approach: Using the extension of the Granger noncausality test in the nonlinear time-varying of Ajmi et al. (20...

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Detalles Bibliográficos
Autor: Tzeremes, Panayiotis
Formato: artículo
Fecha de Publicación:2022
Institución:Universidad ESAN
Repositorio:ESAN-Institucional
Lenguaje:inglés
OAI Identifier:oai:repositorio.esan.edu.pe:20.500.12640/3280
Enlace del recurso:https://revistas.esan.edu.pe/index.php/jefas/article/view/631
https://hdl.handle.net/20.500.12640/3280
https://doi.org/10.1108/JEFAS-08-2019-0179
Nivel de acceso:acceso abierto
Materia:Total factor productivity
Tourism growth
Time-varying approach
Latin American countries
Productividad total de los factores
Crecimiento del turismo
Enfoque variable en el tiempo
Países de América Latina
https://purl.org/pe-repo/ocde/ford#5.02.04
Descripción
Sumario:Purpose: The study aims to investigate the nexus between total factor productivity and tourism growth in Latin American countries for time series data from 1995 to 2017. Design/methodology/approach: Using the extension of the Granger noncausality test in the nonlinear time-varying of Ajmi et al. (2015), the study points out the interconnectedness between the variables during the period. Findings: The study found nonlinear causality between the variables. Particularly, studying the conclusions for the time-varying Granger causality fashion, it can be noticed that the one-way causality from total factor productivity to tourism growth is obtained for Argentina, Bolivia, Brazil, Uruguay and Venezuela, while the vice versa is confirmed for Chile, Ecuador and Nicaragua. Lastly, the study dissected the plots of the curve causality. Practical implications: In view of the results, some crucial policy implications could be suggested, such as, under certain circumstances and as an exceptional case, the use of policy instruments such as targeted investment, marketing and the support of tourism organizations focused on driving a tourism-led-based productivity and/or tourism programs and projects. Originality/value: The current work is distinguished from the existing body of understanding in several substantial directions. This work explores, for the first time, the linkages between the total factor productivity index and tourism growth for Latin American countries. No single attempt has been known to investigate this interaction by using nonlinear causality, and this study determines the shape of the curve between the total factor productivity index and tourism growth for each country.
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