A NOTE ON TOURISM DEMAND IN ROMANIA: TIME SERIES ANALYSIS AND RELATIONSHIP WITH ECONOMIC GROWTH
A NOTE ON TOURISM DEMAND IN ROMANIA: TIME SERIES ANALYSIS AND RELATIONSHIP WITH ECONOMIC GROWTH

Summary/Abstract: This paper investigates the time series characteristics of tourism demand for Romania. Using tools from spectral analysis we estimate the length of cyclical fluctuations from tourist arrivals and GDP time series. A cross-correlation analysis, on contemporaneous and time-lag correlations, is conducted to highlight the similarity between tourism cycle and economic cycle. The long-run relationship between tourism demand and economic growth is investigated in a cointegration approach. In the VEC framework, it is studied the long- and short-run causality between tourism development and economic growth.

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