Economic and non-economic drivers of tourism: bidirectional causality of tourism and environment for South Asian economies
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Summary
This summary is machine-generated.Economic growth, tourism, and environmental impact in South Asia are linked. Findings show GDP, human capital, globalization, and financial risk affect tourism and CO2 emissions differently across quantiles, informing sustainable development policies.
Area Of Science
- Environmental Economics
- Tourism Economics
- South Asian Economies
Background
- Economic growth, tourism, and environmental quality are critical for South Asian economies.
- Interconnections between GDP, human capital, globalization, and financial risk require investigation.
Purpose Of The Study
- To analyze the complex relationships between economic growth, tourism, and environmental factors in South Asia.
- To examine the nuanced impacts of GDP, human capital, globalization, and financial risk on tourism and CO2 emissions.
Main Methods
- Employed novel panel methodologies including quantile regression, slope heterogeneity, cross-section dependence tests, and Westerlund cointegration.
- Utilized causality tests and advanced unit-root tests for robust analysis.
- Investigated the impact of economic and financial factors on tourism and CO2 emissions across different quantiles.
Main Results
- GDP's positive impact on tourism diminishes at higher quantiles but remains positive overall.
- Human capital strongly influences tourism at lower quantiles and emission reduction at lower quantiles.
- Financial risk negatively impacts tourism more in larger economies and reduces emissions at lower quantiles.
Conclusions
- Policy recommendations focus on sustainable tourism, human capital investment, responsible globalization, and financial risk mitigation.
- Aligning tourism strategies with sustainable development goals is crucial for South Asian economies.
- Understanding quantile-specific effects is key for effective policy design.
Keywords:
CO2 Economic growth Financial risk Globalization Human capital MMQR South Asian economies TourismView abstract on PubMed
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