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Flows into tourist areas: an econometric approach
Author(s) -
Torraleja FélixAngel Grande,
Vázquez Agustín Muñoz,
Franco María José Botella
Publication year - 2008
Publication title -
international journal of tourism research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.155
H-Index - 58
eISSN - 1522-1970
pISSN - 1099-2340
DOI - 10.1002/jtr.657
Subject(s) - tourism , cointegration , variance decomposition of forecast errors , economics , competition (biology) , impulse response , vector autoregression , econometrics , variance (accounting) , econometric model , globalization , industrial organization , microeconomics , economic geography , market economy , political science , mathematics , ecology , mathematical analysis , accounting , law , biology
Abstract The globalisation of the tourism industry has led to a horizontal and vertical penetration of firms, leading to strong competition in all tourist centres. In light of these circumstances there is a need to develop strategies that encourage entrepreneurial actions and help firms to design the most competitive tourism offer possible. For the development of these strategies, the current work attempts to identify the degree of interrelation existing between the different tourist markets. Specifically, the study is based on an analysis of the evolution in the relations between the main tourist‐receiving centres in Spain. It identifies the short‐ and long‐term dynamic relations existing between them, and determines their degree of interdependence and any potential leadership relations between them. The methodology used is the one underlying Cointegration theory and vector autoregressive theory, together with forecast error variance decomposition and the impulse‐response function. Copyright © 2008 John Wiley & Sons, Ltd.