Cointegration between Economic, Ecological and Tourism Development

Reference: Pimonenko, T., Lyulyov, O., Us, Y. (2021). Cointegration between Economic, Ecological and Tourism Development. Journal of Tourism and Services, 23(12), 169-180. doi: 10.29036/jots.v12i23.293

Authors

DOI:

https://doi.org/10.29036/jots.v12i23.293

Abstract

The well-developed countries have more options to attract tourists and generate profit from the tourism development. At the same time, the high volume of CO2 emissions, ecological risks, polluted nature restrict the tourism development in the country. The reorientation of global development to green growth provokes transformations in all policies of the country’s development. It allows green countries to attract more tourists. In this case, the paper aims to analyze the relationships between economic growth, ecological indicators, and tourism development. Ukraine has chosen the EU vector of development. In this case, it is necessary to identify the targets for synchronizing the Ukrainian policies (economic, ecological, social, tourism, etc.) with the EU.  The objects of the investigation were Ukraine and Visegrad countries for 2000-2020 years. The panel data was generated from World Data Bank, Eurostat, European Environmental Agency, and Ukrstat. The dependent variable – GDP (as an indicator of economic growth), independent – greenhouse gas emissions and share of renewable energy in the total energy consumption (ecological indicators), the volume of tourists (indicators of tourism development). At the first stage, the study used bibliometric analysis to identify publication activities’ general tendency on the analyzed issues. The following methods were applied to check the hypothesis on cointegration between variables: panel unit root test, Pedroni panel cointegration tests, and the fully modified ordinary least squares and dynamic ordinary least squares panel cointegration techniques. The findings confirmed the relationships between economic, ecological, and tourism development. Thus, the decline of greenhouse gas emissions leads to increasing tourists, and as a consequence, it provokes GDP growth.

Author Biographies

Tetyana Pimonenko, Sumy State University, Department of Marketing, Sumy, Ukraine

Department of Marketing, Sumy State University, 40007 Sumy, Ukraine

Email: tetyana_pimonenko@econ.sumdu.edu.ua

Tetyana Pimonenko is Deputy Director for International Activity of Academic and Research Institute of Business, Economics, and Management at Sumy State University, Ukraine. She got the scientific degree of Dr. Sc. in 2020. She has published more than 80 scientific papers, including 44 articles in international peer-reviewed journals which indexed by Scopus and/or Web of Science. She is the Fulbright Alumna and scholarship holder of more than 10 International Programs (Latvian Government, ITEC, Slovak Government). The central sphere of her scientific interests includes Green Marketing, Green Brand, Green Investment, Green Economics; Sustainable Development, and Tourism. 

Oleksii Lyulyov, Sumy State University, Department of Marketing Sumy, Ukraine

Department of Marketing, Sumy State University, 40007 Sumy, Ukraine

Email: alex_lyulev@econ.sumdu.edu.ua

Oleksii Lyulyov is Head of the Marketing Department at Sumy State University, Ukraine. He got a scientific degree of D.Sc. in Economics in 2019. Oleksii Lyulyov has published more than 100 scientific papers, including 32 papers in international peer-reviewed journals indexed by Scopus and/or Web of Science. The main sphere of his scientific interests includes country marketing policy, country image, macroeconomic stability, innovative development, sustainable economic development, tourism, strategy development, modelling, and forecasting development trends.

Yana Us, Sumy State University, Department of Marketing Sumy, Ukraine

Department of Marketing, Sumy State University, 40007 Sumy, Ukraine

Email: y.us@fem.sumdu.edu.ua

Yana Us is PhD student. She has more than 30 scientific publications. She is a scholarship holder of the following programs: Erasmus+, Latvian Government, Visegrad Fund, etc. The research interests: country brand, tourism, green economy, carbon-free economy, environmental marketing, sustainable development, gender stereotypes in eco-behavior.

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Published

2021-12-22