Economic Growth, Agricultural Output and Tourism Development in Nigeria: An Application of the ARDL Bound Testing Approach
Economic Growth, Agricultural Output and Tourism Development in Nigeria: An Application of the ARDL Bound Testing Approach

Summary/Abstract: The development of terrorism is increasingly contributing to the debate about its impact on the tourism sector. Thus, this article is aimed to explore the place of terrorism in the international legal regulation of tourism. The study was carried out by integrated approach to legal expertise of documents of international organizations. Based on the fact that attacks on foreign tourists have increased in certain regions of the world, relation between tourism and terrorism was established. It was revealed that The Hague Declaration on Tourism is the main international legal and regulatory act in the field of tourism. We came to conclusion that complexity of regulation of international tourism is that tourism actually affects on all branches of law. To solve this problem, it is necessary to develop a new declaration, focused on principles of countering terrorist threat to international tourism and tourists. Drawing from three tourism-growth theories: tourism led growth theory; growth led tourism theory; tourism – growth neutrality theory; and one agriculture-growth nexus theory – agriculture overlapping theory, this study used the autoregressive distributed lag (ARDL) bound testing approach to examine whether or not cointegration exist among economic growth, agricultural output and tourism development in Nigeria. We intend to know what policy instruments need to be manipulated so as to achieve economic growth, increase agricultural output and enhance tourism development. From the results, it is evidence that a two –way cointegration exists between economic growth and agricultural output on the one hand, and between economic growth and tourism development on the other hand. The study also observed that a compelling long run relationship exist between agricultural output and tourism development. To achieve sustainable economic growth, policy makers are advised to pursue heavy investment in the tourism industry, adopts improved farming strategies driven by simple technology among others.

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