The interaction between tourism and FDI in real estate in OECD countries |
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Authors: | Hassan Gholipour Fereidouni Usama Al-mulali |
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Affiliation: | 1. School of Management, Universiti Sains Malaysia, Penang, Malaysiahassanhgf@gmail.com;3. Economic Programe, Universiti Sains Malaysia, Penang, Malaysia |
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Abstract: | The purpose of this article is to investigate the empirical link between foreign direct investment (FDI) in real estate sector (FDIRE) and international tourism (TOUR). Panel co-integration and panel Granger causality techniques are applied to analyse both long- and short-run relationships for the case study of selected OECD countries. Our empirical results show the existence of the long-run and a bi-directional causal relationship between FDIRE and TOUR. The results provide some implications for policy-makers. |
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Keywords: | FDI in real estate tourism flows panel cointegration OECD countries |
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