Impact of Tourism Receipts, FDI and Energy Usage on Economic Growth in South Asia
Abstract
Purpose: The study examines the significant and direct influence of FDI and tourism income on economic growth in selected South Asian countries. .
Design/Methodology/Approach: The study has made use of ARDL regression methodology to analyze the influence of tourism receipts, FDI and energy usage on economic growth.
Findings: This study shows a strong long-term FDI, tourist receipts, and energy links, whereas the effects of these variables are less valuable in the short term.
Implications/Originality/Value: It is generally recognized that FDI accompanies general economic expansion, the development of tourism, and the use of energy around the globe. However, several empirical outcomes have been disclosed in a long-standing discussion.
Downloads
Article Analytics Summary
References
Abbas, Q., Khan, A.R., Bashir, A., Alemzero, D.A., Sun, H., Iram, R., Iqbal, N., 2020a. Scaling up renewable energy in Africa: measuring wind energy through econometric approach. Environ. Sci. Pollut. Res. https://doi.org/10.1007/s11356-020-09596-1 DOI: https://doi.org/10.1007/s11356-020-09596-1
Abbas, Q., Nurunnabi, M., Alfakhri, Y., Khan, W., Hussain, A., Iqbal, W., 2020b. The role of fixed capital formation, renewable and non-renewable energy in economic growth and carbon emission: a case study of Belt and Road Initiative project. Environ. Sci. Pollut. Res. https://doi.org/10.1007/s11356-020-10413-y DOI: https://doi.org/10.1007/s11356-020-10413-y
Akadiri, S. Saint, Bekun, F.V., Sarkodie, S.A., 2019. Contemporaneous interaction between energy consumption, economic growth and environmental sustainability in South Africa: What drives what? Sci. Total Environ. https://doi.org/10.1016/j.scitotenv.2019.05.421 DOI: https://doi.org/10.1016/j.scitotenv.2019.05.421
Ali, S.A., Alharthi, M., Hussain, H.I., Rasul, F., Hanif, I., Haider, J., Ullah, S., ur Rahman, S., Abbas, Q., 2021. A clean technological innovation and eco-efficiency enhancement: A multi-index assessment of sustainable economic and environmental management. Technol. Forecast. Soc. Change. https://doi.org/10.1016/j.techfore.2021.120573 DOI: https://doi.org/10.1016/j.techfore.2021.120573
Amin, A., Liu, X.H., Abbas, Q., Hanif, I., Vo, X.V., 2021. Globalization, sustainable development, and variation in cost of power plant technologies: A perspective of developing economies. Environ. Sci. Pollut. Res. https://doi.org/10.1007/s11356-020-10816-x DOI: https://doi.org/10.1007/s11356-020-10816-x
Anser, M.K., Abbas, Q., Chaudhry, I.S., Khan, A., 2020a. Optimal oil stockpiling, peak oil, and general equilibrium: case study of South Asia (oil importers) and Middle East (oil supplier). Environ. Sci. Pollut. Res. https://doi.org/10.1007/s11356-020-08419-7 DOI: https://doi.org/10.1007/s11356-020-08419-7
Anser, M.K., Mohsin, M., Abbas, Q., Chaudhry, I.S., 2020b. Assessing the integration of solar power projects: SWOT-based AHP–F-TOPSIS case study of Turkey. Environ. Sci. Pollut. Res. https://doi.org/10.1007/s11356-020-09092-6 DOI: https://doi.org/10.1007/s11356-020-09092-6
Apergis, N., Payne, J.E., 2009. CO2 emissions, energy usage, and output in Central America. Energy Policy. https://doi.org/10.1016/j.enpol.2009.03.048 DOI: https://doi.org/10.1016/j.enpol.2009.03.048
Belloumi, M., 2014. The relationship between trade, FDI and economic growth in Tunisia: An application of the autoregressive distributed lag model. Econ. Syst. https://doi.org/10.1016/j.ecosys.2013.09.002 DOI: https://doi.org/10.1016/j.ecosys.2013.09.002
Beugelsdijk, S., Smeets, R., Zwinkels, R., 2008. The impact of horizontal and vertical FDI on host’s country economic growth. Int. Bus. Rev. https://doi.org/10.1016/j.ibusrev.2008.02.004 DOI: https://doi.org/10.1016/j.ibusrev.2008.02.004
Beyzatlar, M.A., Karacal, M., Yetkiner, H., 2014. Granger-causality between transportation and GDP: A panel data approach. Transp. Res. Part A Policy Pract. https://doi.org/10.1016/j.tra.2014.03.001 DOI: https://doi.org/10.1016/j.tra.2014.03.001
Brooks, C., 2014. Introductory Econometrics for Finance, Introductory Econometrics for Finance. https://doi.org/10.1017/cbo9781139540872 DOI: https://doi.org/10.1017/CBO9781139540872
Doytch, N., Uctum, M., 2011. Does the worldwide shift of FDI from manufacturing to services accelerate economic growth? A GMM estimation study. J. Int. Money Financ. https://doi.org/10.1016/j.jimonfin.2011.01.001 DOI: https://doi.org/10.1016/j.jimonfin.2011.01.001
Gujarati, D.N., 2004. Basic Econometrics 4th Edition, Tata McGraw-Hill. https://doi.org/10.1126/science.1186874 DOI: https://doi.org/10.1126/science.1186874
Hanif, I., Faraz Raza, S.M., Gago-de-Santos, P., Abbas, Q., 2019. Fossil fuels, foreign direct investment, and economic growth have triggered CO2 emissions in emerging Asian economies: Some empirical evidence. Energy. https://doi.org/10.1016/j.energy.2019.01.011 DOI: https://doi.org/10.1016/j.energy.2019.01.011
Hazari, B.R., A-Ng, 1993. An analysis of tourists’ consumption of non-traded goods and services on the welfare of the domestic consumers. Int. Rev. Econ. Financ. https://doi.org/10.1016/1059-0560(93)90030-T DOI: https://doi.org/10.1016/1059-0560(93)90030-T
Hazari, B.R., Sgro, P.M., 1995. Tourism and growth in a dynamic model of trade. J. Int. Trade Econ. Dev. https://doi.org/10.1080/09638199500000019 DOI: https://doi.org/10.1080/09638199500000019
Herzer, D., Klasen, S., Nowak-Lehmann D., F., 2008. In search of FDI-led growth in developing countries: The way forward. Econ. Model. https://doi.org/10.1016/j.econmod.2007.11.005 DOI: https://doi.org/10.1016/j.econmod.2007.11.005
Huang, Y., Raza, S.M.F., Hanif, I., Alharthi, M., Abbas, Q., Zain-ul-Abidin, S., 2020. The role of forest resources, mineral resources, and oil extraction in economic progress of developing Asian economies. Resour. Policy. https://doi.org/10.1016/j.resourpol.2020.101878 DOI: https://doi.org/10.1016/j.resourpol.2020.101878
Iqbal, N., Khan, A., Gill, A.S., Abbas, Q., 2020. Nexus between sustainable entrepreneurship and environmental pollution: evidence from developing economy. Environ. Sci. Pollut. Res. https://doi.org/10.1007/s11356-020-09642-y DOI: https://doi.org/10.1007/s11356-020-09642-y
Iqbal, W., Fatima, A., Yumei, H., Abbas, Q., Iram, R., 2020. Oil supply risk and affecting parameters associated with oil supplementation and disruption. J. Clean. Prod. https://doi.org/10.1016/j.jclepro.2020.120187 DOI: https://doi.org/10.1016/j.jclepro.2020.120187
Iram, R., Anser, M.K., Awan, R.U., Ali, A., Abbas, Q., Chaudhry, I.S., 2020. Prioritization of Renewable Solar Energy To Prevent Energy Insecurity: An Integrated Role. Singapore Econ. Rev. https://doi.org/10.1142/s021759082043002x DOI: https://doi.org/10.1142/S021759082043002X
Li, H.A.O., Bhatti, Z., Abbas, Q., Ahmad, I., Iqbal, N., Aziz, B., 2020. MEASURING LOW CARBON ENERGY, ECONOMIC and ENVIRONMENTAL SUSTAINABILITY PERFORMANCE of BRICS. Singapore Econ. Rev. https://doi.org/10.1142/S0217590820500617 DOI: https://doi.org/10.1142/S0217590820500617
Li, X., Liu, X., 2005. Foreign Direct Investment and economic growth: An increasingly endogenous relationship. World Dev. https://doi.org/10.1016/j.worlddev.2004.11.001 DOI: https://doi.org/10.1016/j.worlddev.2004.11.001
Liu, J., Abbas, Q., Alharthi, M., Mohsin, M., Rasul, F., Iqbal, N., 2021. Managerial policy and economic analysis of wind-generated renewable hydrogen for light-duty vehicles: Green solution of energy crises. Environ. Sci. Pollut. Res. https://doi.org/10.1007/s11356-020-11018-1 DOI: https://doi.org/10.1007/s11356-020-11018-1
Qayyum, M.A., Bashir, F., Maqbool, M.M., Ali, A., Bashir, S., Abbas, Q., 2019. Implications of saline water irrigation for linseed on seed germination, seedling survival and growth potential. Sarhad J. Agric. https://doi.org/10.17582/JOURNAL.SJA/2019/35.4.1289.1297 DOI: https://doi.org/10.17582/journal.sja/2019/35.4.1289.1297
Sahban, M.A., Abbas, Q., 2018. Comparison of Conflict Management Style Between Malaysian and Thai Employees: A Case Study in Top Glove Corporation. J. Bus. Soc. Rev. Emerg. Econ. https://doi.org/10.26710/jbsee.v4i2.244 DOI: https://doi.org/10.26710/jbsee.v4i2.244
Samad, A., 2009. Does FDI Cause Economic Growth? Evidence from South-East Asia and Latin America. Utah Val. Univ.
Shen, H., Ali, S.A., Alharthi, M., Shah, A.S., Khan, A.B., Abbas, Q., Rahman, S.U., 2021. Carbon-free energy and sustainable environment: The role of human capital and technological revolutions in attaining sdgs. Sustain. https://doi.org/10.3390/su13052636 DOI: https://doi.org/10.3390/su13052636
Sun, H., Khan, A.R., Bashir, A., Alemzero, D.A., Abbas, Q., Abudu, H., 2020. Energy insecurity, pollution mitigation, and renewable energy integration: prospective of wind energy in Ghana. Environ. Sci. Pollut. Res. https://doi.org/10.1007/s11356-020-09709-w DOI: https://doi.org/10.1007/s11356-020-09709-w
Tohidy Ardahaey, F., 2011. Economic Impacts of Tourism Industry. Int. J. Bus. Manag. https://doi.org/10.5539/ijbm.v6n8p206 DOI: https://doi.org/10.5539/ijbm.v6n8p206
World Travel & Tourism Council, 2018. Travel & Tourism Economic Impact 2018 World, Travel and Tourism Impact 2018. https://doi.org/10.1093/elt/ccr029 DOI: https://doi.org/10.1093/elt/ccr029
Xia, Z., Abbas, Q., Mohsin, M., Song, G., 2020. Trilemma among energy, economic and environmental efficiency: Can dilemma of EEE address simultaneously in era of COP 21? J. Environ. Manage. https://doi.org/10.1016/j.jenvman.2020.111322 DOI: https://doi.org/10.1016/j.jenvman.2020.111322
Yang, Z., Abbas, Q., Hanif, I., Alharthi, M., Taghizadeh-Hesary, F., Aziz, B., Mohsin, M., 2021. Short- and long-run influence of energy utilization and economic growth on carbon discharge in emerging SREB economies. Renew. Energy. https://doi.org/10.1016/j.renene.2020.10.141 DOI: https://doi.org/10.1016/j.renene.2020.10.141
Copyright (c) 2021 Farhana Nosheen, Umar Suffian Ahmad, Sadia Anjum, Robina Kouser
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
CSRC Publishing and JAFEE adhere to Creative Commons Attribution-Non Commercial 4.0 International License. The authors, submitting and publishing in the Journal of Accounting and Finance in Emerging Economies published by CSRC Publishing, retain the copyright of their work and give the journal right to publish their work agreeing to the licensing policy under Creative Common Attribution-Non Commercial (NC-BY-NC 4.0) International. Under this license, the published authors let others remix, tweak, and build upon their work non-commercially. Yet all the other authors using the content of CSRC Publishing are required to cite author(s), journal name and publisher in their work. CSRC Publishing and JAFEE follow an Open Access Policy for copyright and licensing.
