Examining the nexus between technological innovation, FDI, economic growth and tourism in selected countries: A simultaneous equation model approach
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F24%3A50021743" target="_blank" >RIV/62690094:18450/24:50021743 - isvavai.cz</a>
Result on the web
<a href="https://systems.enpress-publisher.com/index.php/jipd/article/view/4767/3175" target="_blank" >https://systems.enpress-publisher.com/index.php/jipd/article/view/4767/3175</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.24294/jipd.v8i7.4767" target="_blank" >10.24294/jipd.v8i7.4767</a>
Alternative languages
Result language
angličtina
Original language name
Examining the nexus between technological innovation, FDI, economic growth and tourism in selected countries: A simultaneous equation model approach
Original language description
The current study examines the impact that technological innovation, foreign direct investment, economic growth, and globalization have on tourism in top 10 most popular tourist destinations in the world. The information on the number of tourists, foreign direct investment, growth in gross domestic product, GFCF, use of FFE, and total energy consumption were extracted from the World Development Indicators. The United Nations Conference on Trade and Development (UNCTAD) database was used for collecting the statistics about technological innovation. The source ETH Zurich has been utilized to gather panel data for the time period 2008 to 2022 to calculate the KOF Index of Globalization. Theoretically, FDI and Economic growth are the endogenous variables for the Tourism model. Whereas, TI, Glob, Energy Consumption, and GFCF are the exogenous variables. Hence, the analysis is based on the System Equation—Simultaneous equations, after checking identification that confirms the problem of simultaneity in system of 3 equations. The empirical outcomes suggest that TI, FDI, globalization index, GDP growth, and energy consumption are the most important factors that contribute to an increase in tourism. Likewise FDI as the endogenous variable is favorably impacted by globalization, technological innovation, fossil fuel energy consumption, gross fixed capital formation, and tourism. Nevertheless, the coefficient of GFCF is only insignificant in the study. While, globalization, TI, and FFE are also favorably affecting the FDI. GDP growth is the second endogenous variable in this research, and it is positively influenced by globalization, FDI, and tourism in the case of the top 10 nations that are most frequently visited by tourists.
Czech name
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Czech description
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Classification
Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
50702 - Urban studies (planning and development)
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2024
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Journal of Infrastructure, Policy and Development
ISSN
2572-7923
e-ISSN
2572-7931
Volume of the periodical
8
Issue of the periodical within the volume
7
Country of publishing house
US - UNITED STATES
Number of pages
24
Pages from-to
"Article number: 4767"
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-85201629321