This paper investigates the impact of tourism on income inequality in developing economies. The analysis utilizes a balanced panel data set from 1991 to 2012 on 49 developing economies around the world. The empirical findings confirm the long-run equilibrium relationship among the variables. Results from long-run elasticities indicate that tourism increases income inequality significantly. Further, the long-run elasticities on squared tourism revenue confirm the existence of Kuznets curve hypothesis between tourism revenue and income inequalities, meaning that if the current level of tourism becomes double then it will significantly reduce the income inequality in developing economies. Given these findings, our study offers significant value to the body of knowledge on the issue of tourism and income inequality in developing economies and also provides important policy implications.

The objective of this study is to empirically examine the effect of tourism on economic growth and CO2 emissions across the panels of developed and developing economies around the world.The study also investigates the Environmental Kuznets Curve (EKC) hypothesis between tourism revenue and CO2 emissions. To achieve these objectives, study employs robust panel econometric techniques on balanced panel data sets of developed and developing economies.The cointegration test results confirm the long-run equilibrium relationship among the variables. Similarly, the long-run elasticities indicate that tourism has a significant positive impact on economic growth and CO2 emissions of both developed and developing economies.The results also imply the presence of EKC hypothesis between tourism and CO2 emissions.More specifically, our results indicate that after a threshold point the contribution of tourism to the CO2 emissions is negligible, and the reduction is much greater in developed economies than those of developing economies. Overall, our findings reveal that tourism plays a significant role in stimulating economic development and prosperity; though it increases CO2 emissions.However, the effect of tourism on the CO2 emissions can be minimized by adopting more sustainable tourism policies and efficient management across developed and developing economies.

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This paper examines the impact of trade openness and foreign direct investment (FDI) on life expectancy using time series data over the period of 1972-2013. We have applied structural break unit root as well as cointegration tests to examine integrating properties of the variables and cointegration among the variables. The causal linkage between the variables has been tested by applying the VECM Granger causality. The empirical evidence confirms the presence of cointegration amid the variables. Moreover, trade openness and FDI increase population health measured by life expectancy in the long-run. Furthermore, the analysis suggests that trade openness and FDI cause life expectancy in the short-run. These findings have several policy implications to improve life expectancy for the people of Pakistan in particular and other developing countries in general.

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