Departamento de Gestão e Economia
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Percorrer Departamento de Gestão e Economia por Objetivos de Desenvolvimento Sustentável (ODS) "08:Trabalho Digno e Crescimento Económico"
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- Do International touristic activities and their revenues affect economic growth and GHG? A GMM approachPublication . Ferreira, Rúben Filipe Sousa; Moutinho, Vítor Manuel Ferreira; Marques, Luís Miguel Soares SantosTourism is pivotal to economic growth, but its impacts differ extensively among nations, which may reflect differences in infrastructure, institutional quality, and environmental policy. The present study explores the association between tourism, economic growth, and CO2 emissions for 21 European and non-European nations from 2000 to 2023 with a focus on structural and institutional heterogeneity. Empirical estimation is panel data oriented and employs the Generalized Method of Moments (GMM) that adjusts for endogeneity of the regressors, and unobserved country-specific heterogeneity. Economic development is captured through GDP, and CO2 emissions are tested in level and first difference to allow the study to capture structural and short-run impacts. Results indicate that tourism has different effects on economic growth: tourist receipts have a positive effect on GDP, whereas tourist arrivals have zero or negative effects, particularly in Europe with more restrictive infrastructural and resource constraints. With regards to environmental effects, there are different patterns at play here. Development and tourism for European nations are associated with rising short-term CO2 emissions but followed by energy innovation and policy-led carbon intensity in the medium term, in line with Environmental Kuznets Curve (EKC) hypothesis. For the rest of countries, the relationship between tourism, development, and emissions is weaker, aligned with institutional and energy access-constrained and weaker enforcement of environmental policy. The results support an argument for the significance of policy frameworks that balance economic development and environmental protection. Key priority actions are low-carbon tourism promotion, investment in renewable energy, green infrastructure development, and institutional capacity building region-based strategies have to be put in place to associate economic growth and sustainability aspirations so that tourism becomes a driver of growth without harming global climate objectives.