Economic Studies - Research Publications

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Author: search.filters.author.Sahoo, DebasisSubject: search.filters.subject.BRICS

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    Does Tourism Foster Economic Growth in BRICS Region? Empirical Evidence over 1995-2019
    (ASERS Publishing House, 2022-12-02T00:00:00) Mishra, P.K.; Sahoo, Debasis; Rout, Himanshu B.; Chaini, S.R.; Kumar, Pradip
    In the BRICS region, international tourism is considered a significant contributor to employment, forex earnings, and gross domestic product. In this context, this study examined the impact of tourism on the growth of BRICS economies by employing PMG based ARDL panel data analysis technique over an augmented neo-classical growth model during a period from 1995 to 2019. The results support a positive impact of international tourism on the growth of BRICS nations when their levels of human development are controlled in the long run. So, this study adds another feather to the extant empirical evidence of the tourism-led growth hypothesis in the BRICS region. Therefore, the policies of tourism sector development/expansion can supplement in achieving an elevated real economic growth in BRICS economies. � 2022 by ASERS� Publishing. All rights reserved.
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    International Tourism and Economic Growth: Empirical Evidence from BRICS Countries
    (Africa Journals, 2022-01-11T00:00:00) Mishra, P.K.; Rout, Himanshu B.; Sahoo, Debasis
    The aim of the study was to examine the tourism-growth nexus in the context of BRICS nations. For this purpose, the augmented neo-classical growth framework has been employed a panel data model approach over the sample period spanning from 1995 to 2019. The estimation was conducted using PMG based ARDL regression. The results lend support to the tourism-led growth hypothesis when the capital formation and human development exert a positive impact on the long-run real economic growth in BRICS economies. So, the policies meant for tourism sector development can contribute to long-run economic growth through an increase in the share of gross capital formation in the gross domestic product and with the help of improved human development. Therefore, the policy focus should be on infrastructure development, the promotion of investment opportunities, and the development of healthcare and education in BRICS countries. The use of a macroeconomic framework in the analysis is the novelty of this study. � 2021 AJHTL /Author(s). All Rights Reserved.