Investigating tourism and exchange rate dynamics on economic growth in Sri Lanka

Adeleye, Bosede Ngozi; Adam, Lukman Shehu; Ahmad, Paiman; Ola-David, Oluyomi

doi:10.1080/19407963.2022.2130343

Cited by 3 publications

(3 citation statements)

References 61 publications

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“…CAP. INSTITUTIONS R & D HUMAN CAPITAL PSCC-LSDV Mean Regressions Q 0.25 Q 0.50 Q 0.75 Q 0.25 Q 0.50 Q 0.75 Q 0.25 Q 0.50 Q 0.75 [ 1 ] [ 2 ] [ 3 ] [ 4 ] [ 5 ] [ 6 ] [ 7 ] [ 8 ] [ 9 ] [ 10 ] [ 11 ] [ 12 ] lnGFCF −0.0248** −0.137*** −0.0912*** −0.040*** −0.048*** −0.054*** −0.195*** −0.177*** −0.154*** −0.142*** −0.127*** −0.100*** (-2.324) (-4.327) (-5.050) (0.014) (0.012) (0.012) (0.073) (0.052) (0.045) (0.023) (0.021) (0.023) lnLAB −0.169 <...…”

Section: Resultsmentioning

confidence: 99%

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Re-examining the tourism-led growth nexus and the role of information and communication technology in East Asia and the Pacific

Adeleye¹

2023

Heliyon

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Section: Resultsmentioning

confidence: 99%

“…Existing studies have independently established a positive relationship between tourism and economic growth. That is, tourism is an enabler of growth [ [4] , [5] , [6] , [7] , [8] , [9] , [10] ]. Similarly, the growth-enhancing impact of ICT is well documented [ [11] , [12] , [13] , [14] , [15] , [16] ].…”

Section: Introductionmentioning

confidence: 99%

Re-examining the tourism-led growth nexus and the role of information and communication technology in East Asia and the Pacific

Adeleye¹

2023

Heliyon

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“…The exchange rate measures a national currency compared to a basket of significant foreign currencies (Dornbusch, 1997). As a commodity, the tourism industry appears in global markets and generates foreign exchange (Adeleye et al, 2022b). When the national currency is reduced compared to other currencies, domestic tourism increases because travel to international tourist destinations becomes more expensive (Dogru et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

Growth-Led Tourism and the Role of Exchange Rate

Adeleye

Musibau

AbdulKareem

et al. 2023

Tourism (Zagreb, Online)

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We re-visit the growth-led tourism hypothesis to examine the role of the exchange rate in the nexus. Using yearly data on Sri Lanka from 1995 to 2018, preliminary tests reveal a long-run association between tourism receipts, economic growth, and the official exchange rate. Consistent robustness results from a battery of econometric techniques validate that the connection holds autonomously and interactively. Conclusions drawn from the linear models suggest that a percentage change in economic growth increases tourism by 0.8% to 1.2%. Likewise, the exchange rate boosts tourism by 0.006% to 0.008%, on average, ceteris paribus. For the most part, the interaction of the exchange rate with economic growth upholds the "growth-led tourism" hypothesis. We also find that the results hold across the conditional distribution of tourism. Additional evidence from the margin plot reveals that the effect of economic growth on tourism is positive as the Sri Lankan Rupee depreciates. The upward trend of the plot within the 95% confidence interval shows that currency depreciation enhances the impact of economic growth on tourism. These are novel contributions to the literature as it suggests that currency depreciation in Sri Lanka is pro-tourism. Policy recommendations are discussed.

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Leveraging Fintech Innovations for Post-COVID-19 Tourism Recovery in Asia: Lessons and Opportunities for Africa

Mhlanga,

Sethi

2024

Tourism and Hospitality for Sustainable Development

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Investigating tourism and exchange rate dynamics on economic growth in Sri Lanka

Cited by 3 publications

References 61 publications

Re-examining the tourism-led growth nexus and the role of information and communication technology in East Asia and the Pacific

Re-examining the tourism-led growth nexus and the role of information and communication technology in East Asia and the Pacific

Growth-Led Tourism and the Role of Exchange Rate

Leveraging Fintech Innovations for Post-COVID-19 Tourism Recovery in Asia: Lessons and Opportunities for Africa

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