Examining the nexus between technological innovation, FDI, economic growth and tourism in selected countries: A simultaneous equation model approach

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Examining the nexus between technological innovation, FDI, economic growth and tourism in selected countries: A simultaneous equation model approach

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Examining the nexus between technological innovation, FDI, economic growth and tourism in selected countries: A simultaneous equation model approach

Popis výsledku anglicky

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.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

50702 - Urban studies (planning and development)

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2024

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of Infrastructure, Policy and Development

ISSN

2572-7923

e-ISSN

2572-7931

Svazek periodika

8

Číslo periodika v rámci svazku

7

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

24

Strana od-do

"Article number: 4767"

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-85201629321