Empirics of Tourism-Led Growth in India, 1995 to 2016
Abstract
In the globalized world, the travel and tourism have been considered crucial for achieving inclusive growth, especially in less developed economies. It has been increasingly recognised as a good contributor to national income and employment. So it can be used an instrument for achieving a higher rate of economic growth of a country in the long-run. In this line of argument, this paper examined the causal relationship between tourism and economic growth in the context of Indian States/UTs in a panel data framework. The empirical findings support the tourism-led growth hypothesis in the long-run and growth-led tourism hypothesis in the short-run. Thus, the policy choice is to make the tourism instrumental, through its promotional strategies, for the inclusive and sustainable development of India.
References
[1] Aliqah, K.M.A. and N.A. Al-rfou. 2010. The Role of Tourism Sector on Economic Development in Jordan during the Period 1990-2008, European Journal of Economics, Finance and Administrative Sciences, 18: 173-180
[2] Andrioties, K. 2002. Scale of Hospitality Firms and Local Economic Development – Evidence from Crete, Tourism Management, 23(4): 333-341. DOI: https://doi.org/10.1016/S0261-5177(01)00094-2
[3] Antonakakis, N. and Badinger, H. 2014. International business cycle spillovers since the 1870s, Applied Economics, 46: 3682-3694. DOI: https://doi.org/10.1080/00036846.2014.937040
[4] Arellano, M., and Bond, S. 1991. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, Review of Economic Studies, 58: 277–97. DOI: https://doi.org/10.2307/2297968
[5] Arellano, M., and Bover, O. 1995. Another look at the instrumental variables estimation of error components models, Journal of Econometrics, 68: 29–51. DOI: https://doi.org/10.1016/0304-4076(94)01642-D
[6] Arslanturk, Y., Balcilar, M., and Özdemir, Z.A. 2011. Time-varying linkages between tourism receipts and economic growth in a small open economy, Economic Modelling, 28: 664-671. DOI: https://doi.org/10.1016/j.econmod.2010.06.003
[7] Ashley, C., P.D. Brine, A. Lehr, and H. Wilde. 2007. The Role of the Tourism Sector in Expanding Economic Opportunity, Corporate Social Responsibility Initiative Report No.23. Cambridge, M.A: Kennedy School of Government, Harvard University. Available at: https://sites.hks.harvard.edu/m-rcbg/CSRI/publications/report_23_EO%20Tourism%20Final.pdf
[8] Ayres, R. 2000. Tourism as a Passport to Development in Small States: Reflections on Cyprus, International Journal of Social Economics, 27(2):114–133 DOI: https://doi.org/10.1108/03068290010308992
[9] Balaguer, L. and Cantavella-Jorda, M. 2002. Tourism as a Long-Run Economic Growth Factor: The Spanish case, Applied Economics, 34(7): 877-884. DOI: https://doi.org/10.1080/00036840110058923
[10] Bashiri Behmiri, N., and Pires Manso, J.R. 2012. Crude oil conservation policy hypothesis in OECD (organisation for economic cooperation and development) countries: A multivariate panel Granger causality test. Energy, 43: 253-260. DOI: https://doi.org/10.1016/j.energy.2012.04.032
[11] Batta, R.N. 2000. Tourism and the Environment: A Quest for Sustainability: With Special Reference to Developing Countries and Policy Analysis on Himachal Pradesh. New Delhi: Indus Publishing Company. Available at: https://books.google.co.in/books/about/Tourism_and_the_Environment.html?id=V85-AAAAMAAJ&redir_esc=y
[12] Belloumi, M. 2010. The relationship between tourism receipts, real effective exchange rate and economic growth in Tunisia, International Journal of Tourism Research, 12(5): 550–560. DOI: https://doi.org/10.1002/jtr.774
[13] Blundell, R., and Bond, S. 1998. Initial conditions and moment restrictions in dynamic panel data models, Journal of Econometrics, 87: 11–143. DOI: https://doi.org/10.1016/S0304-4076(98)00009-8
[14] Brau, R., A. Lanza, and Pigliaru, F. 2003. How fasts are the Tourism Countries Growing? The Cross-Country Evidence, Working Paper No.03-09, Centro Ricerche Economiche Nord Sud (Centre for North South Economic Research). Available at: http://www.crenos.it/working/pdf/03-09.pdf
[15] Brida, J. and Pulina, M. 2010. A literature review on the tourism-led-growth hypothesis, Working Paper CRENoS 201017, Centre for North South Economic Research, Sardinia. Available at: http://crenos.unica.it/crenos/sites/default/files/WP10-17.pdf
[16] Cardenas-Garcia, P.J., M. Sanchez-Rivero and J.I. Pulido-Fernandez. 2015. Does Tourism Growth Influence Economic Development?. Journal of Travel Research, 54(2): 206-221. DOI: https://doi.org/10.1177/0047287513514297
[17] Chen, C.-F., and Chiou-Wei, S.Z. 2009. Tourism expansion, tourism uncertainty and economic growth: new evidence from Taiwan and Korea, Tourism Management, 30(6): 812–818. DOI: https://doi.org/10.1016/j.tourman.2008.12.013
[18] Chiu, Y., and Yeh, L. 2016. The Threshold effects of the Tourism-Led Growth Hypothesis: Evidence from a Cross-Sectional Model, Journal of Travel Research Published online June 10. DOI: https://doi.org/10.1177/0047287516650938
[19] Choi, I. 2001. Unit Root Tests for Panel Data, Journal of International Money and Finance, 20(2): 249–272. DOI: https://doi.org/10.1016/S0261-5606(00)00048-6
[20] Chou, M. C. 2013. Does tourism development promote economic growth in transition countries? A panel data analysis, Economic Modelling, 33: 226–232. DOI: https://doi.org/10.1016/j.econmod.2013.04.024
[21] Cortés-Jiménez, I. 2008. Which type of tourism matters to the regional economic growth? The cases of Spain and Italy, International Journal of Tourism Research, 10(2): 127–139. DOI: https://doi.org/10.1002/jtr.646
[22] Costantini, V., and Martini, C. 2010. The causality between energy consumption and economic growth: A multi-sectoral analysis using non-stationary cointegrated panel data, Energy Economics, 32: 591-603. DOI: https://doi.org/10.1016/j.eneco.2009.09.013
[23] Croes, R. R. 2006. A paradigm shift to a new strategy for small island economies: embracing demand side economics for value enhancement and long term economic stability, Tourism Management, 27(3): 453-465. DOI: https://doi.org/10.1016/j.tourman.2004.12.003
[24] Croes, R., and Vanegas, M. 2008. Cointegration and causality between tourism and poverty reduction, Journal of Travel Research, 47(1): 94-103. DOI: https://doi.org/10.1177/0047287507312429
[25] Das, S.K. 2013. Growth and Prospects of Odisha Tourism: An Empirical Study, Odisha Review, August-September, 125-134. Available at: https://www.cabdirect.org/cabdirect/abstract/20143136333
[26] Demirhan, B. 2016. Tourism-Led Growth Hypothesis in Mediterranean Countries: Evidence from a Panel Cointegration and Error Correction Model, Applied Economics and Finance, 3(1): 38-53. DOI:https://doi.org/10.11114/aef.v3i1.1207
[27] Dritsakis, N. 2004.Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece, Tourism Economics, 10(3): 305-316. DOI: https://doi.org/10.5367/0000000041895094
[28] Dritsakis, N. 2012. Tourism development and economic growth in seven Mediterranean countries: a panel data approach, Tourism Economics, 18: 801-816. DOI: https://doi.org/10.5367/te.2012.0140
[29] Du, D., A.A., Lew and P.T. Ng. 2016. Tourism and Economic Growth, Journal of Travel Research, 55(4): 454-464. DOI: https://doi.org/10.1177/0047287514563167
[30] Durbarry, R. 2002: The Economic Contribution of Tourism in Mauritius, Annals of Tourism Research, 29(3): 862-865. DOI: https://doi.org/10.1016/S0160-7383(02)00008-7
[31] Eeckels, B., Filis, G. and Leon, C. 2012. Tourism income and economic growth in Greece: Empirical evidence from their cyclical components, Tourism Economics, 18:817-834. DOI: https://doi.org/10.5367/te.2012.0148
[32] Engle, R.F. and Granger, C.W.J. 1987. Co-integration and error correction: representation, estimation, and testing, Econometrica, 55: 251-76. DOI: https://doi.org/10.2307/1913236
[33] Eugenio-Martin, J. L., N. M. Morales, and Scarpa, R. 2004. Tourism and Economic Growth in Latin American Countries: A Panel Data Approach, Working Paper Series No.26, Fondazione Eni Enrico Mattei (ENI Enrico Mattei Foundation). Available at: http://home.wlu.edu/~caseyj/spring07devseminar/latinAmtourand%20dev.pdf
[34] Fayissa, B., S. Nsiah and Tadasse, B. 2007. The Impact of Tourism on Economic Growth and Development in Africa, Working Papers Series No. 16, Africa: Department of Economics and Finance, Middle Tennessee State University. Available at: http://capone.mtsu.edu/berc/working/TourismAfricawp.pdf
[35] Fayissa, B., S. Nsiah and Tadesse, B. 2009. Tourism and Economic Growth in Latin American Countries: Further Empirical Evidence, Working Paper Series. Africa: Department of Economics and Finance. Middle Tennessee State University. Available at: http://capone.mtsu.edu/berc/working/TourismLAC03-5-09WP.pdf
[36] Gill, N. and Singh, R.P. 2011. Tourism Dynamic Assessment Using Geospatial Approach in Bageshwar District, Uttarakhand, Recent Research in Science and Technology, 3(5): 109-113.
[37] Gill, N. and Singh, R.P. 2013. Socio-Economic Impact Assessment of Tourism in Pithoragarh District, Uttarakhand, International Journal of Advancement in Remote Sensing, GIS and Geography, 1(1): 1-7. Available at: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.670.9966&rep=rep1&type=pdf
[38] Gimeno, R.P. 1988. La demanda de servicios turísticos en España, [The Demand for Tourism Services in Spain] Investigaciones Económicas [Economic Research], 12(1):137–157.
[39] Gunduz, L., and Hatemi-J, A. 2005. Is the Tourism-Led Growth Hypothesis Valid for Turkey? Applied Economics Letters, 12(8): 499-504. DOI: https://doi.org/10.1080/13504850500109865
[40] Im, K.S, Pesaran, M.H, and Shin, Y. 2003. Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115: 53-74. DOI: https://doi.org/10.1016/S0304-4076(03)00092-7
[41] Jaunky, V.C. 2012a. Is there a material Kuznets curve for aluminium? Evidence from rich countries, Resources Policy, 37: 296-307. DOI: https://doi.org/10.1016/j.resourpol.2012.04.001
[42] Jaunky, V.C. 2012b. Democracy and economic growth in Sub-Sahara Africa: a panel data approach, Empirical Economics, 45(2):987-1008. DOI: https://doi.org/10.1007/s00181-012-0633-x
[43] Kao, C. 1999. Spurious regression and residual-based tests for cointegration in panel data, Journal of Econometrics, 90:1-44. DOI: https://doi.org/10.1016/S0304-4076(98)00023-2
[44] Kao, C. and Chiang, M. H. 2000. On the estimation and inference of a cointegrated regression in panel data, in: Baltagi, B.H. (ed.), Advances in Econometrics: Nonstationary Panels, Panel Cointegration and Dynamic Panels, 15: 179–222. DOI: https://doi.org/10.1016/S0731-9053(00)15007-8
[45] Katircioglu, S.T. 2009. Revisiting the tourism-led-growth hypothesis for Turkey using the bounds test and Johansen approach for cointegration, Tourism Management, 30: 17-20. DOI: https://doi.org/10.1016/j.tourman.2008.04.004
[46] Kaur, T. P. and Kansra, P. 2018. Tourism-led Economic Growth in India: An Application of Vector Error Correction Model, International Journal of Business and Globalization, 21(4): 517-530. DOI: https://doi.org/10.1504/IJBG.2018.10010254
[47] Khalil, S., Kakar, M. K. and Waliullah. 2007. Role of Tourism in Economic Growth: Empirical Evidence from Pakistan Economy, The Pakistan Development Review 46(4-Part II): 985–995. Available at: http://www.pide.org.pk/pdf/PDR/2007/Volume4/985-995.pdf
[48] Khan, H., S. Phang, and Toh, R. 1995. The Multiplier Effect: Singapore’s Hospitality Industry, The Cornell Hotel and Restaurant Administration Quarterly, 36(1): 64-69. DOI: https://doi.org/10.1177/001088049503600121
[49] Kim, H.J., Chen, M. H. and Jang, S.S. 2006. Tourism Expansion and Economic Development: The Case of Taiwan, Tourism Management, 27(5): 925-933. DOI: https://doi.org/10.1016/j.tourman.2005.05.011
[50] Kreishan, F. M. M. 2010. Tourism and Economic Growth: The Case of Jordan, European Journal of Social Sciences, 15(2): 63-68. Available at: http://dergipark.gov.tr/download/article-file/364164
[51] Kum, H., Aslan, A. and Gungor, M. 2015. Tourism and Economic Growth: The Case of Next-11 Countries, International Journal of Economics and Financial Issues, 5(4): 1075-1081. Available at: http://dergipark.gov.tr/download/article-file/363129
[52] Lanza, A., Templec, P., and Urgad, G. 2003. The implications of tourism specialization in the long-run: An econometric analysis for 13 OECD economies, Tourism Management, 24: 315–321. DOI: https://doi.org/10.1016/S0261-5177(02)00065-1
[53] Lean, H.H. and Tang, C.F. 2010. Is the Tourism-Led Growth Hypothesis Stable for Malaysia? A Note, International Journal of Tourism Research, 12: 375-378. DOI: https://doi.org/10.1002/jtr.759
[54] Lee, C. and Kwon, K.1995. Importance of Secondary Impact of Foreign Tourism Receipts on the South Korean Economy, Journal Travel Research, 34(2): 50-54. DOI: https://doi.org/10.1177/004728759503400210
[55] Lee, C. C. and Chang, C.P. 2008. Tourism Development and Economic Growth: A Closer Look at Panels, Tourism Management, 29(1): 180-192. DOI: https://doi.org/10.1016/j.tourman.2007.02.013
[56] Levin, A., Lin, C.F., and Lin, Chu J. 2002. Unit root tests in panel data: asymptotic and finite-sample properties, Journal of Econometrics, 108: 1-24. DOI: https://doi.org/10.1016/S0304-4076(01)00098-7
[57] Lim, C. 1987. Review of International Tourism Demand Models, Annals Tourism Research, 24(4): 835-849. DOI: https://doi.org/10.1016/S0160-7383(97)00049-2
[58] Llorca-Rodríguez, C.M., A.C. Casas-Jurado, and García-Fernández, R.M. 2016. The Regional Polarization of Tourism’s Contribution to Economic Growth in Peru: Alternative Solutions, Tourism Economics, 22(2): 397-415. DOI: https://doi.org/10.5367/te.2014.0425
[59] Maddala, G.S., and Wu, S. 1999. A comparative study of unit root tests with panel data and a new simple test, Oxford Bulletin of Economics and Statistics, (Special Issue): 631-652. DOI: https://doi.org/10.1111/1468-0084.61.s1.13
[60] Mallick, L., U. Mallesh, and Behera, J. 2016. Does Tourism Affect Economic Growth in Indian States? Evidence from Panel ARDL Model, Theoretical and Applied Economics, 23(1):183-194. http://store.ectap.ro/articole/1170.pdf
[61] Mishra, P. K., Rout, H. B. and Pradhan, B. B. 2018. Seasonality in Tourism and Forecasting Foreign Tourist Arrivals in India, Iranian Journal of Management Studies, 11(4): (Article in Press) DOI: https://doi.org/10.22059/IJMS.2018.239718.672776
[62] Mishra, P. K., Rout, H. B., and Sanghamitra. 2016. Tourism in Odisha: An Engine of Long-Run Growth, Journal of Tourism Management Research, 3(2): 74-84. DOI: https://doi.org/10.18488/journal.31/2016.3.2/31.2.74.84
[63] Mishra, P.K., and Rout, H. B. 2012-13. Economic Impact of Tourism: A Case Study of Jharkhand, International Journal of Economics and Managerial Thoughts, 3(2): 130-139
[64] Mishra, P.K., and Verma, J. K. 2017. Tourism and Peace in Economic Development Perspective of India, Journal of Environmental Management and Tourism, 8(4), 927-934. DOI: http://dx.doi.org/10.14505/jemt.v8.4(20).23
[65] Mishra, P.K., H.B. Rout and Mohapatra, S. 2011. Causality between Tourism and Economic Growth: Empirical Evidence from India, European Journal of Social Sciences, 18: 518-527. Available at: https://www.researchgate.net/publication/280305614_Causality_between_tourism_and_economic_growth_Empirical_evidence_from_india
[66] Munshi, T. and Mishra, P. K. 2016. Can Tourism a Catalyst for Economic Growth of Haryana?, Paper Presented at ICSSR Sponsored National Seminar on Make in Haryana: A Road Ahead. Central University of Haryana, India, March 17-18.
[67] Narayan, P.K., Sharma, S.S., and Bannigidadmath, D. 2013. Does tourism predict macroeconomic performance in Pacific Island countries?, Economic Modeling, 33: 780-786. DOI: https://doi.org/10.1016/j.econmod.2013.05.018
[68] Oh, C.O. 2005. The Contribution of Tourism Development to Economic Growth in the Korean Economy, Tourism Management, 26(1): 39-44. DOI: https://doi.org/10.1016/j.tourman.2003.09.014
[69] Ohlan, R. 2017. The Relationship between tourism, financial development and economic growth in India, Future Business Journal, 3: 9-22. DOI: https://doi.org/10.1016/j.fbj.2017.01.003
[70] Pedroni, P. 1999. Critical values for cointegration tests in heterogeneous panels with multiple regressors, Oxford Bulletin of Economics and Statistics, 61: 653-670. DOI: https://doi.org/10.1111/1468-0084.61.s1.14
[71] Pedroni, P. 2000. Fully modified OLS for the heterogeneous cointegrated panels. Advances in Econometrics, 15:93–130. DOI: https://doi.org/10.1016/S0731-9053(00)15004-2
[72] Pedroni, P. 2001a. Asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis, Economics Working Paper, Indiana University.
[73] Pedroni, P. 2001b. Purchasing power parity tests in cointegrated panels, Review of Economics and Statistics, 83(4): 727-731. DOI: https://doi.org/10.1162/003465301753237803
[74] Pedroni, P. 2004. Panel cointegration: asymptotic and finite sample properties of fooled time series tests with an application to the PPP hypothesis, Econometric Theory, 20: 597–625. DOI: https://doi.org/10.1017/S0266466604203073
[75] Phouphet, K., John, L., Gallup, T. Charoenrat, and Nozaki, K. 2018. Testing tourism-led growth hypothesis in Laos?, Tourism Review, 73(2): 242-251. DOI: https://doi.org/10.1108/TR-03-2017-0034
[76] Pleumarom, A. 2012. The Politics of Tourism and Poverty Reduction, in: David Leslie (eds.) Responsible Tourism: Concepts, Theory and Practice, CAB International, UK, p.179. DOI: https://doi.org/10.1079/9781845939878.0090
[77] Richardson, R.B. 2010. The Contribution of Tourism to Economic Growth and Food Security, Research Paper Prepared for USAID Mali. Office of Economic Growth, p.1-8. Available at: http://ageconsearch.umn.edu/record/97140/files/Tourism_and_food_security_in_Mali_A4.pdf
[78] Rout, H. B., Mishra, P.K., and Pradhan, B.B. 2016a. Socio-Economic Impacts of Tourism in India: An Empirical Analysis, Journal of Environmental Management and Tourism, 7(4): 762-768. DOI: https://doi.org/10.14505/jemt.v7.4(16).22
[79] Rout, H. B., Mishra, P. K., and Pradhan, B. B. 2016b. Nexus between Tourism and Economic Growth: Empirical Evidence from Odisha, India, International Journal of Applied Business and Economic Research, 14(11): 7491-7513. Available at: http://docplayer.net/89847397-Nexus-between-tourism-and-economic-growth-empirical-evidence-from-odisha-india.html
[80] Rout, H.B., Mishra, P.K., and Pradhan, B.B. 2016c. Trend and Progress of Tourism in India: An Empirical Analysis, International Journal of Economic Research, 13(5): 2265- 2275. Available at: https://www.researchgate.net/publication/310511987_Trend_and_progress_of_tourism_in_India_An_empirical_analysis
[81] Sahu, K.K. 2013. Growth and Prospects of Tourism in Odisha, International Journal of Humanities and Social Science Invention, 2(5): 22-28
[82] Seetanah, B. 2011. Assessing the dynamic economic impact of tourism for island economies, Annals of Tourism Research, 38(1): 291-308. DOI: https://doi.org/10.1016/j.annals.2010.08.009
[83] Seghir, G. M., B. Mostéfa, S. M. Abbes, and Zakaryaa, G. Y. 2015. Tourism Spending-Economic Growth Causality in 49 Countries: A Dynamic Panel Data Approach, Procedia Economics and Finance, 23: 1613-1623. DOI: https://doi.org/10.1016/S2212-5671(15)00402-5
[84] Sequeira, T.N. and Campos, C. 2005. International Tourism and Economic Growth: A Panel Data Approach, Working Paper No 141. Fondazione Eni Enrico Mattei di Lavoro, National Resources Management, DOI: http://ssrn.com/abstract=855985
[85] Shakouri, B., Yazdi, S. K., Nategian, N., and Shikhrezaei, N. 2017. The Relation between International Tourism and Economic Growth, Journal of Tourism and Hospitality, 6(4), 1-7. DOI: https://doi.org/10.4172/2167-0269.1000295
[86] Sharma, N. 2018. Tourism-Led Growth Hypothesis: Empirical Evidence from India, African Journal of Hospitality, Tourism and Leisure, 7(2), 1-11. Available at: https://www.ajhtl.com/uploads/7/1/6/3/7163688/article_7_vol_7__2__2018.pdf
[87] Skerritt, D. and Huybers, T. 2005. The Effect of International Tourism on Economic Development: An Empirical Analysis, Asia Pacific of Tourism Research, 10(1): 23-43. https://doi.org/10.1080/1094166042000330209
[88] Soukiazis, E., amd Proença, S. 2008. Tourism as an alternative source of regional growth in Portugal: a panel data analysis at NUTS II and III levels, Port Economics Journal, 7: 43–61. https://doi.org/10.1007/s10258-007-0022-0
[89] Suba, T. and Selvachantra. 2014. Promoting Tourism Marketing in India: Need for Economic Development, AE International Journal of Multidisciplinary Research, 2(9):1-9. Available at: http://aeijmr.com/wp-content/uploads/2018/02/Promoting-of-Tourism-Marketing-in-India-Need-for-Economic-Development.pdf
[90] Surugiu, C. and Surugiu, M.R. 2013. Is the tourism sector supportive of economic growth? Empirical evidence on Romanian tourism, Tourism Economics, 19: 115-132.DOI: https://doi.org/10.5367/te.2013.0196
[91] Tang, C.F. and Tan, E.C. 2015. Does tourism effectively stimulate Malaysia’s economic growth?, Tourism Management, 46:158-163. DOI: https://doi.org/10.1016/j.tourman.2014.06.020
[92] Tang, C.H.H. and Jang, S.S. 2009. The tourism-economy causality in the United States: a sub-industry level examination, Tourism Management, 30: 553-558. DOI: https://doi.org/10.1016/j.tourman.2008.09.009
[93] Tosun, C. 1999. An Analysis of Contributions International Inbound Tourism to the Turkish Economy, Tourism Economics, 5(3):217-250. DOI: https://doi.org/10.1177/135481669900500301
[94] Vita, G. and Kyaw, K.S. 2016. Tourism Specialization, Absorptive Capacity and Economic Growth, Journal of Travel Research, 56(4): 423-435. DOI: https://doi.org/10.1177/0047287516650042
[95] Wickremasinghe, G. B. and Ihalanayake, R. 2006. The Causal Relationship between Tourism and Economic Growth in Sri Lanka: Some Empirical Evidence, Working paper Series-WP-2006-10, School of Applied Economics, Victoria University. Available at: https://www.researchgate.net/publication/228587058_The_Causal_Relationship_between_Tourism_and_Economic_Growth_in_Sri_Lanka_Some_Empirical_Evidence
[96] Zortuk, M. 2009. Economic Impact of Tourism on Turkey’s Economy: Evidence from Cointegration Tests, International Research Journal of Finance and Economics, 25(3): 231-239. Available at: https://www.researchgate.net/publication/285833323_Economic_impact_of_tourism_on_turkey's_economy_Evidence_from_cointegration_tests
[2] Andrioties, K. 2002. Scale of Hospitality Firms and Local Economic Development – Evidence from Crete, Tourism Management, 23(4): 333-341. DOI: https://doi.org/10.1016/S0261-5177(01)00094-2
[3] Antonakakis, N. and Badinger, H. 2014. International business cycle spillovers since the 1870s, Applied Economics, 46: 3682-3694. DOI: https://doi.org/10.1080/00036846.2014.937040
[4] Arellano, M., and Bond, S. 1991. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, Review of Economic Studies, 58: 277–97. DOI: https://doi.org/10.2307/2297968
[5] Arellano, M., and Bover, O. 1995. Another look at the instrumental variables estimation of error components models, Journal of Econometrics, 68: 29–51. DOI: https://doi.org/10.1016/0304-4076(94)01642-D
[6] Arslanturk, Y., Balcilar, M., and Özdemir, Z.A. 2011. Time-varying linkages between tourism receipts and economic growth in a small open economy, Economic Modelling, 28: 664-671. DOI: https://doi.org/10.1016/j.econmod.2010.06.003
[7] Ashley, C., P.D. Brine, A. Lehr, and H. Wilde. 2007. The Role of the Tourism Sector in Expanding Economic Opportunity, Corporate Social Responsibility Initiative Report No.23. Cambridge, M.A: Kennedy School of Government, Harvard University. Available at: https://sites.hks.harvard.edu/m-rcbg/CSRI/publications/report_23_EO%20Tourism%20Final.pdf
[8] Ayres, R. 2000. Tourism as a Passport to Development in Small States: Reflections on Cyprus, International Journal of Social Economics, 27(2):114–133 DOI: https://doi.org/10.1108/03068290010308992
[9] Balaguer, L. and Cantavella-Jorda, M. 2002. Tourism as a Long-Run Economic Growth Factor: The Spanish case, Applied Economics, 34(7): 877-884. DOI: https://doi.org/10.1080/00036840110058923
[10] Bashiri Behmiri, N., and Pires Manso, J.R. 2012. Crude oil conservation policy hypothesis in OECD (organisation for economic cooperation and development) countries: A multivariate panel Granger causality test. Energy, 43: 253-260. DOI: https://doi.org/10.1016/j.energy.2012.04.032
[11] Batta, R.N. 2000. Tourism and the Environment: A Quest for Sustainability: With Special Reference to Developing Countries and Policy Analysis on Himachal Pradesh. New Delhi: Indus Publishing Company. Available at: https://books.google.co.in/books/about/Tourism_and_the_Environment.html?id=V85-AAAAMAAJ&redir_esc=y
[12] Belloumi, M. 2010. The relationship between tourism receipts, real effective exchange rate and economic growth in Tunisia, International Journal of Tourism Research, 12(5): 550–560. DOI: https://doi.org/10.1002/jtr.774
[13] Blundell, R., and Bond, S. 1998. Initial conditions and moment restrictions in dynamic panel data models, Journal of Econometrics, 87: 11–143. DOI: https://doi.org/10.1016/S0304-4076(98)00009-8
[14] Brau, R., A. Lanza, and Pigliaru, F. 2003. How fasts are the Tourism Countries Growing? The Cross-Country Evidence, Working Paper No.03-09, Centro Ricerche Economiche Nord Sud (Centre for North South Economic Research). Available at: http://www.crenos.it/working/pdf/03-09.pdf
[15] Brida, J. and Pulina, M. 2010. A literature review on the tourism-led-growth hypothesis, Working Paper CRENoS 201017, Centre for North South Economic Research, Sardinia. Available at: http://crenos.unica.it/crenos/sites/default/files/WP10-17.pdf
[16] Cardenas-Garcia, P.J., M. Sanchez-Rivero and J.I. Pulido-Fernandez. 2015. Does Tourism Growth Influence Economic Development?. Journal of Travel Research, 54(2): 206-221. DOI: https://doi.org/10.1177/0047287513514297
[17] Chen, C.-F., and Chiou-Wei, S.Z. 2009. Tourism expansion, tourism uncertainty and economic growth: new evidence from Taiwan and Korea, Tourism Management, 30(6): 812–818. DOI: https://doi.org/10.1016/j.tourman.2008.12.013
[18] Chiu, Y., and Yeh, L. 2016. The Threshold effects of the Tourism-Led Growth Hypothesis: Evidence from a Cross-Sectional Model, Journal of Travel Research Published online June 10. DOI: https://doi.org/10.1177/0047287516650938
[19] Choi, I. 2001. Unit Root Tests for Panel Data, Journal of International Money and Finance, 20(2): 249–272. DOI: https://doi.org/10.1016/S0261-5606(00)00048-6
[20] Chou, M. C. 2013. Does tourism development promote economic growth in transition countries? A panel data analysis, Economic Modelling, 33: 226–232. DOI: https://doi.org/10.1016/j.econmod.2013.04.024
[21] Cortés-Jiménez, I. 2008. Which type of tourism matters to the regional economic growth? The cases of Spain and Italy, International Journal of Tourism Research, 10(2): 127–139. DOI: https://doi.org/10.1002/jtr.646
[22] Costantini, V., and Martini, C. 2010. The causality between energy consumption and economic growth: A multi-sectoral analysis using non-stationary cointegrated panel data, Energy Economics, 32: 591-603. DOI: https://doi.org/10.1016/j.eneco.2009.09.013
[23] Croes, R. R. 2006. A paradigm shift to a new strategy for small island economies: embracing demand side economics for value enhancement and long term economic stability, Tourism Management, 27(3): 453-465. DOI: https://doi.org/10.1016/j.tourman.2004.12.003
[24] Croes, R., and Vanegas, M. 2008. Cointegration and causality between tourism and poverty reduction, Journal of Travel Research, 47(1): 94-103. DOI: https://doi.org/10.1177/0047287507312429
[25] Das, S.K. 2013. Growth and Prospects of Odisha Tourism: An Empirical Study, Odisha Review, August-September, 125-134. Available at: https://www.cabdirect.org/cabdirect/abstract/20143136333
[26] Demirhan, B. 2016. Tourism-Led Growth Hypothesis in Mediterranean Countries: Evidence from a Panel Cointegration and Error Correction Model, Applied Economics and Finance, 3(1): 38-53. DOI:https://doi.org/10.11114/aef.v3i1.1207
[27] Dritsakis, N. 2004.Tourism as a Long-Run Economic Growth Factor: An Empirical Investigation for Greece, Tourism Economics, 10(3): 305-316. DOI: https://doi.org/10.5367/0000000041895094
[28] Dritsakis, N. 2012. Tourism development and economic growth in seven Mediterranean countries: a panel data approach, Tourism Economics, 18: 801-816. DOI: https://doi.org/10.5367/te.2012.0140
[29] Du, D., A.A., Lew and P.T. Ng. 2016. Tourism and Economic Growth, Journal of Travel Research, 55(4): 454-464. DOI: https://doi.org/10.1177/0047287514563167
[30] Durbarry, R. 2002: The Economic Contribution of Tourism in Mauritius, Annals of Tourism Research, 29(3): 862-865. DOI: https://doi.org/10.1016/S0160-7383(02)00008-7
[31] Eeckels, B., Filis, G. and Leon, C. 2012. Tourism income and economic growth in Greece: Empirical evidence from their cyclical components, Tourism Economics, 18:817-834. DOI: https://doi.org/10.5367/te.2012.0148
[32] Engle, R.F. and Granger, C.W.J. 1987. Co-integration and error correction: representation, estimation, and testing, Econometrica, 55: 251-76. DOI: https://doi.org/10.2307/1913236
[33] Eugenio-Martin, J. L., N. M. Morales, and Scarpa, R. 2004. Tourism and Economic Growth in Latin American Countries: A Panel Data Approach, Working Paper Series No.26, Fondazione Eni Enrico Mattei (ENI Enrico Mattei Foundation). Available at: http://home.wlu.edu/~caseyj/spring07devseminar/latinAmtourand%20dev.pdf
[34] Fayissa, B., S. Nsiah and Tadasse, B. 2007. The Impact of Tourism on Economic Growth and Development in Africa, Working Papers Series No. 16, Africa: Department of Economics and Finance, Middle Tennessee State University. Available at: http://capone.mtsu.edu/berc/working/TourismAfricawp.pdf
[35] Fayissa, B., S. Nsiah and Tadesse, B. 2009. Tourism and Economic Growth in Latin American Countries: Further Empirical Evidence, Working Paper Series. Africa: Department of Economics and Finance. Middle Tennessee State University. Available at: http://capone.mtsu.edu/berc/working/TourismLAC03-5-09WP.pdf
[36] Gill, N. and Singh, R.P. 2011. Tourism Dynamic Assessment Using Geospatial Approach in Bageshwar District, Uttarakhand, Recent Research in Science and Technology, 3(5): 109-113.
[37] Gill, N. and Singh, R.P. 2013. Socio-Economic Impact Assessment of Tourism in Pithoragarh District, Uttarakhand, International Journal of Advancement in Remote Sensing, GIS and Geography, 1(1): 1-7. Available at: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.670.9966&rep=rep1&type=pdf
[38] Gimeno, R.P. 1988. La demanda de servicios turísticos en España, [The Demand for Tourism Services in Spain] Investigaciones Económicas [Economic Research], 12(1):137–157.
[39] Gunduz, L., and Hatemi-J, A. 2005. Is the Tourism-Led Growth Hypothesis Valid for Turkey? Applied Economics Letters, 12(8): 499-504. DOI: https://doi.org/10.1080/13504850500109865
[40] Im, K.S, Pesaran, M.H, and Shin, Y. 2003. Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115: 53-74. DOI: https://doi.org/10.1016/S0304-4076(03)00092-7
[41] Jaunky, V.C. 2012a. Is there a material Kuznets curve for aluminium? Evidence from rich countries, Resources Policy, 37: 296-307. DOI: https://doi.org/10.1016/j.resourpol.2012.04.001
[42] Jaunky, V.C. 2012b. Democracy and economic growth in Sub-Sahara Africa: a panel data approach, Empirical Economics, 45(2):987-1008. DOI: https://doi.org/10.1007/s00181-012-0633-x
[43] Kao, C. 1999. Spurious regression and residual-based tests for cointegration in panel data, Journal of Econometrics, 90:1-44. DOI: https://doi.org/10.1016/S0304-4076(98)00023-2
[44] Kao, C. and Chiang, M. H. 2000. On the estimation and inference of a cointegrated regression in panel data, in: Baltagi, B.H. (ed.), Advances in Econometrics: Nonstationary Panels, Panel Cointegration and Dynamic Panels, 15: 179–222. DOI: https://doi.org/10.1016/S0731-9053(00)15007-8
[45] Katircioglu, S.T. 2009. Revisiting the tourism-led-growth hypothesis for Turkey using the bounds test and Johansen approach for cointegration, Tourism Management, 30: 17-20. DOI: https://doi.org/10.1016/j.tourman.2008.04.004
[46] Kaur, T. P. and Kansra, P. 2018. Tourism-led Economic Growth in India: An Application of Vector Error Correction Model, International Journal of Business and Globalization, 21(4): 517-530. DOI: https://doi.org/10.1504/IJBG.2018.10010254
[47] Khalil, S., Kakar, M. K. and Waliullah. 2007. Role of Tourism in Economic Growth: Empirical Evidence from Pakistan Economy, The Pakistan Development Review 46(4-Part II): 985–995. Available at: http://www.pide.org.pk/pdf/PDR/2007/Volume4/985-995.pdf
[48] Khan, H., S. Phang, and Toh, R. 1995. The Multiplier Effect: Singapore’s Hospitality Industry, The Cornell Hotel and Restaurant Administration Quarterly, 36(1): 64-69. DOI: https://doi.org/10.1177/001088049503600121
[49] Kim, H.J., Chen, M. H. and Jang, S.S. 2006. Tourism Expansion and Economic Development: The Case of Taiwan, Tourism Management, 27(5): 925-933. DOI: https://doi.org/10.1016/j.tourman.2005.05.011
[50] Kreishan, F. M. M. 2010. Tourism and Economic Growth: The Case of Jordan, European Journal of Social Sciences, 15(2): 63-68. Available at: http://dergipark.gov.tr/download/article-file/364164
[51] Kum, H., Aslan, A. and Gungor, M. 2015. Tourism and Economic Growth: The Case of Next-11 Countries, International Journal of Economics and Financial Issues, 5(4): 1075-1081. Available at: http://dergipark.gov.tr/download/article-file/363129
[52] Lanza, A., Templec, P., and Urgad, G. 2003. The implications of tourism specialization in the long-run: An econometric analysis for 13 OECD economies, Tourism Management, 24: 315–321. DOI: https://doi.org/10.1016/S0261-5177(02)00065-1
[53] Lean, H.H. and Tang, C.F. 2010. Is the Tourism-Led Growth Hypothesis Stable for Malaysia? A Note, International Journal of Tourism Research, 12: 375-378. DOI: https://doi.org/10.1002/jtr.759
[54] Lee, C. and Kwon, K.1995. Importance of Secondary Impact of Foreign Tourism Receipts on the South Korean Economy, Journal Travel Research, 34(2): 50-54. DOI: https://doi.org/10.1177/004728759503400210
[55] Lee, C. C. and Chang, C.P. 2008. Tourism Development and Economic Growth: A Closer Look at Panels, Tourism Management, 29(1): 180-192. DOI: https://doi.org/10.1016/j.tourman.2007.02.013
[56] Levin, A., Lin, C.F., and Lin, Chu J. 2002. Unit root tests in panel data: asymptotic and finite-sample properties, Journal of Econometrics, 108: 1-24. DOI: https://doi.org/10.1016/S0304-4076(01)00098-7
[57] Lim, C. 1987. Review of International Tourism Demand Models, Annals Tourism Research, 24(4): 835-849. DOI: https://doi.org/10.1016/S0160-7383(97)00049-2
[58] Llorca-Rodríguez, C.M., A.C. Casas-Jurado, and García-Fernández, R.M. 2016. The Regional Polarization of Tourism’s Contribution to Economic Growth in Peru: Alternative Solutions, Tourism Economics, 22(2): 397-415. DOI: https://doi.org/10.5367/te.2014.0425
[59] Maddala, G.S., and Wu, S. 1999. A comparative study of unit root tests with panel data and a new simple test, Oxford Bulletin of Economics and Statistics, (Special Issue): 631-652. DOI: https://doi.org/10.1111/1468-0084.61.s1.13
[60] Mallick, L., U. Mallesh, and Behera, J. 2016. Does Tourism Affect Economic Growth in Indian States? Evidence from Panel ARDL Model, Theoretical and Applied Economics, 23(1):183-194. http://store.ectap.ro/articole/1170.pdf
[61] Mishra, P. K., Rout, H. B. and Pradhan, B. B. 2018. Seasonality in Tourism and Forecasting Foreign Tourist Arrivals in India, Iranian Journal of Management Studies, 11(4): (Article in Press) DOI: https://doi.org/10.22059/IJMS.2018.239718.672776
[62] Mishra, P. K., Rout, H. B., and Sanghamitra. 2016. Tourism in Odisha: An Engine of Long-Run Growth, Journal of Tourism Management Research, 3(2): 74-84. DOI: https://doi.org/10.18488/journal.31/2016.3.2/31.2.74.84
[63] Mishra, P.K., and Rout, H. B. 2012-13. Economic Impact of Tourism: A Case Study of Jharkhand, International Journal of Economics and Managerial Thoughts, 3(2): 130-139
[64] Mishra, P.K., and Verma, J. K. 2017. Tourism and Peace in Economic Development Perspective of India, Journal of Environmental Management and Tourism, 8(4), 927-934. DOI: http://dx.doi.org/10.14505/jemt.v8.4(20).23
[65] Mishra, P.K., H.B. Rout and Mohapatra, S. 2011. Causality between Tourism and Economic Growth: Empirical Evidence from India, European Journal of Social Sciences, 18: 518-527. Available at: https://www.researchgate.net/publication/280305614_Causality_between_tourism_and_economic_growth_Empirical_evidence_from_india
[66] Munshi, T. and Mishra, P. K. 2016. Can Tourism a Catalyst for Economic Growth of Haryana?, Paper Presented at ICSSR Sponsored National Seminar on Make in Haryana: A Road Ahead. Central University of Haryana, India, March 17-18.
[67] Narayan, P.K., Sharma, S.S., and Bannigidadmath, D. 2013. Does tourism predict macroeconomic performance in Pacific Island countries?, Economic Modeling, 33: 780-786. DOI: https://doi.org/10.1016/j.econmod.2013.05.018
[68] Oh, C.O. 2005. The Contribution of Tourism Development to Economic Growth in the Korean Economy, Tourism Management, 26(1): 39-44. DOI: https://doi.org/10.1016/j.tourman.2003.09.014
[69] Ohlan, R. 2017. The Relationship between tourism, financial development and economic growth in India, Future Business Journal, 3: 9-22. DOI: https://doi.org/10.1016/j.fbj.2017.01.003
[70] Pedroni, P. 1999. Critical values for cointegration tests in heterogeneous panels with multiple regressors, Oxford Bulletin of Economics and Statistics, 61: 653-670. DOI: https://doi.org/10.1111/1468-0084.61.s1.14
[71] Pedroni, P. 2000. Fully modified OLS for the heterogeneous cointegrated panels. Advances in Econometrics, 15:93–130. DOI: https://doi.org/10.1016/S0731-9053(00)15004-2
[72] Pedroni, P. 2001a. Asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis, Economics Working Paper, Indiana University.
[73] Pedroni, P. 2001b. Purchasing power parity tests in cointegrated panels, Review of Economics and Statistics, 83(4): 727-731. DOI: https://doi.org/10.1162/003465301753237803
[74] Pedroni, P. 2004. Panel cointegration: asymptotic and finite sample properties of fooled time series tests with an application to the PPP hypothesis, Econometric Theory, 20: 597–625. DOI: https://doi.org/10.1017/S0266466604203073
[75] Phouphet, K., John, L., Gallup, T. Charoenrat, and Nozaki, K. 2018. Testing tourism-led growth hypothesis in Laos?, Tourism Review, 73(2): 242-251. DOI: https://doi.org/10.1108/TR-03-2017-0034
[76] Pleumarom, A. 2012. The Politics of Tourism and Poverty Reduction, in: David Leslie (eds.) Responsible Tourism: Concepts, Theory and Practice, CAB International, UK, p.179. DOI: https://doi.org/10.1079/9781845939878.0090
[77] Richardson, R.B. 2010. The Contribution of Tourism to Economic Growth and Food Security, Research Paper Prepared for USAID Mali. Office of Economic Growth, p.1-8. Available at: http://ageconsearch.umn.edu/record/97140/files/Tourism_and_food_security_in_Mali_A4.pdf
[78] Rout, H. B., Mishra, P.K., and Pradhan, B.B. 2016a. Socio-Economic Impacts of Tourism in India: An Empirical Analysis, Journal of Environmental Management and Tourism, 7(4): 762-768. DOI: https://doi.org/10.14505/jemt.v7.4(16).22
[79] Rout, H. B., Mishra, P. K., and Pradhan, B. B. 2016b. Nexus between Tourism and Economic Growth: Empirical Evidence from Odisha, India, International Journal of Applied Business and Economic Research, 14(11): 7491-7513. Available at: http://docplayer.net/89847397-Nexus-between-tourism-and-economic-growth-empirical-evidence-from-odisha-india.html
[80] Rout, H.B., Mishra, P.K., and Pradhan, B.B. 2016c. Trend and Progress of Tourism in India: An Empirical Analysis, International Journal of Economic Research, 13(5): 2265- 2275. Available at: https://www.researchgate.net/publication/310511987_Trend_and_progress_of_tourism_in_India_An_empirical_analysis
[81] Sahu, K.K. 2013. Growth and Prospects of Tourism in Odisha, International Journal of Humanities and Social Science Invention, 2(5): 22-28
[82] Seetanah, B. 2011. Assessing the dynamic economic impact of tourism for island economies, Annals of Tourism Research, 38(1): 291-308. DOI: https://doi.org/10.1016/j.annals.2010.08.009
[83] Seghir, G. M., B. Mostéfa, S. M. Abbes, and Zakaryaa, G. Y. 2015. Tourism Spending-Economic Growth Causality in 49 Countries: A Dynamic Panel Data Approach, Procedia Economics and Finance, 23: 1613-1623. DOI: https://doi.org/10.1016/S2212-5671(15)00402-5
[84] Sequeira, T.N. and Campos, C. 2005. International Tourism and Economic Growth: A Panel Data Approach, Working Paper No 141. Fondazione Eni Enrico Mattei di Lavoro, National Resources Management, DOI: http://ssrn.com/abstract=855985
[85] Shakouri, B., Yazdi, S. K., Nategian, N., and Shikhrezaei, N. 2017. The Relation between International Tourism and Economic Growth, Journal of Tourism and Hospitality, 6(4), 1-7. DOI: https://doi.org/10.4172/2167-0269.1000295
[86] Sharma, N. 2018. Tourism-Led Growth Hypothesis: Empirical Evidence from India, African Journal of Hospitality, Tourism and Leisure, 7(2), 1-11. Available at: https://www.ajhtl.com/uploads/7/1/6/3/7163688/article_7_vol_7__2__2018.pdf
[87] Skerritt, D. and Huybers, T. 2005. The Effect of International Tourism on Economic Development: An Empirical Analysis, Asia Pacific of Tourism Research, 10(1): 23-43. https://doi.org/10.1080/1094166042000330209
[88] Soukiazis, E., amd Proença, S. 2008. Tourism as an alternative source of regional growth in Portugal: a panel data analysis at NUTS II and III levels, Port Economics Journal, 7: 43–61. https://doi.org/10.1007/s10258-007-0022-0
[89] Suba, T. and Selvachantra. 2014. Promoting Tourism Marketing in India: Need for Economic Development, AE International Journal of Multidisciplinary Research, 2(9):1-9. Available at: http://aeijmr.com/wp-content/uploads/2018/02/Promoting-of-Tourism-Marketing-in-India-Need-for-Economic-Development.pdf
[90] Surugiu, C. and Surugiu, M.R. 2013. Is the tourism sector supportive of economic growth? Empirical evidence on Romanian tourism, Tourism Economics, 19: 115-132.DOI: https://doi.org/10.5367/te.2013.0196
[91] Tang, C.F. and Tan, E.C. 2015. Does tourism effectively stimulate Malaysia’s economic growth?, Tourism Management, 46:158-163. DOI: https://doi.org/10.1016/j.tourman.2014.06.020
[92] Tang, C.H.H. and Jang, S.S. 2009. The tourism-economy causality in the United States: a sub-industry level examination, Tourism Management, 30: 553-558. DOI: https://doi.org/10.1016/j.tourman.2008.09.009
[93] Tosun, C. 1999. An Analysis of Contributions International Inbound Tourism to the Turkish Economy, Tourism Economics, 5(3):217-250. DOI: https://doi.org/10.1177/135481669900500301
[94] Vita, G. and Kyaw, K.S. 2016. Tourism Specialization, Absorptive Capacity and Economic Growth, Journal of Travel Research, 56(4): 423-435. DOI: https://doi.org/10.1177/0047287516650042
[95] Wickremasinghe, G. B. and Ihalanayake, R. 2006. The Causal Relationship between Tourism and Economic Growth in Sri Lanka: Some Empirical Evidence, Working paper Series-WP-2006-10, School of Applied Economics, Victoria University. Available at: https://www.researchgate.net/publication/228587058_The_Causal_Relationship_between_Tourism_and_Economic_Growth_in_Sri_Lanka_Some_Empirical_Evidence
[96] Zortuk, M. 2009. Economic Impact of Tourism on Turkey’s Economy: Evidence from Cointegration Tests, International Research Journal of Finance and Economics, 25(3): 231-239. Available at: https://www.researchgate.net/publication/285833323_Economic_impact_of_tourism_on_turkey's_economy_Evidence_from_cointegration_tests
Published
2019-02-01
How to Cite
ROUT, Himanshu B.; MISHRA, P. K.; PRADHAN, B. B..
Empirics of Tourism-Led Growth in India, 1995 to 2016.
Journal of Environmental Management and Tourism, [S.l.], v. 9, n. 6, p. 1190-1201, feb. 2019.
ISSN 2068-7729.
Available at: <https://journals.aserspublishing.eu/jemt/article/view/2657>. Date accessed: 27 nov. 2024.
doi: https://doi.org/10.14505//jemt.v9.6(30).08.
Section
Article
Copyright© 2024 The Author(s). Published by ASERS Publishing 2024. This is an open access article distributed under the terms of CC-BY 4.0 license.