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Economic Change and Restructuring

, Volume 52, Issue 3, pp 221–254 | Cite as

Exploring the effect of ICT and tourism on economic growth: a study of Israel

  • Ronald Ravinesh KumarEmail author
  • Peter Josef Stauvermann
  • Nikeel Kumar
  • Syed Jawad Hussain Shahzad
Article
  • 340 Downloads

Abstract

In this paper, we explore the impact of information and communications technology (ICT) and tourism on per worker output over the period 1960–2016 by using an augmented Solow (Quart J Econ 70(1): 65–94, 1956) framework estimated through the autoregressive distributed lag procedure for cointegration (Pesaran et al. in J Appl Econ 16(3):289–326, 2001). The results show that mobile cellular subscriptions (measure of ICT pervasiveness) and visitor arrivals as a percent of workers (measure of tourism) are cointegrated and positive, however, only ICT is statistically significant in the long-run. The long-run elasticity coefficient of ICT and tourism is 0.03 and 0.05, respectively. We note a unidirectional causality from ICT to output per worker, from tourism to output per worker, from capital per worker to tourism, and from ICT to tourism. From the results, we emphasize that focusing on technology advancement and tourism expansion will provide the necessary support for economic growth in the country.

Keywords

ICT Tourism ARDL bounds Granger causality Israel 

Notes

Acknowledgements

Peter J. Stauvermann acknowledges the financial support of the Changwon National University in 2017–2018 for his active research contributions. All the authors are thankful to the Editor-in-Chief, Professor George Hondroyiannis, and the two anonymous reviewers for their comments and advice. The usual disclaimer applies.

Compliance with ethical standards

Conflict of interest

There is no potential conflict of interest.

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Authors and Affiliations

  • Ronald Ravinesh Kumar
    • 1
    • 2
    Email author
  • Peter Josef Stauvermann
    • 3
  • Nikeel Kumar
    • 4
  • Syed Jawad Hussain Shahzad
    • 5
  1. 1.Informetrics Research GroupTon Duc Thang UniversityHo Chi Minh CityVietnam
  2. 2.Faculty of Social Sciences and HumanitiesTon Duc Thang UniversityHo Chi Minh CityVietnam
  3. 3.Department of Global Business and EconomicsChangwon National UniversityChangwonRepublic of Korea (South Korea)
  4. 4.School of Economics, Faculty of Business and EconomicsUniversity of the South PacificSuvaFiji
  5. 5.Montpellier Business SchoolMontpellierFrance

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