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Water resources and tourism development in South Asia: an application of dynamic common correlated effect (DCCE) model


Meo, Muhammad Saeed and Sabir, Saeed Ahmad and Arain, Hira and Nazar, Raima (2020) Water resources and tourism development in South Asia: an application of dynamic common correlated effect (DCCE) model. Environmental Science and Pollution Research, 27 (16). pp. 19678-19687. ISSN 0944-1344

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Abstract

The current study explores the relationship between water resources and tourism in South Asia for the period of 1995-2017. The study employs the CIPS unit root test for stationarity of the variables and the CD test for cross-sectional dependence among cross-sectional units. As for the long-run parameters, a novel technique, known as dynamic common correlated effect (DCCE) model, is used which was recently developed by Chudik and Pesaran (J Econ 188:393-420, 2015b). The outcomes from the DCCE method suggest that water resources have a positive impact on tourism in South Asia. It is also proven that ignoring cross-sectional dependence among the cross-sectional units may bring about misleading outcomes. The findings of the study can be helpful for policymakers to understand the role of water resources in boosting tourism and contributing to the economic prosperity of South Asian countries.

Item Type: Article
Uncontrolled Keywords: Cross-sectional dependence . PMG . CIPS unit root test . CD test
Subjects: G Geography. Anthropology. Recreation > GV Recreation Leisure
Divisions: School of Tourism, Hospitality & Environmental Management
Depositing User: Mrs. Norazmilah Yaakub
Date Deposited: 05 Jul 2020 01:32
Last Modified: 05 Jul 2020 01:32
URI: http://repo.uum.edu.my/id/eprint/27169

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