The Relationship between Political Instability, Terrorism and Tourism in Saarc Region
نویسندگان
چکیده
The objective of the study is to examine the long-run relationship between political instability, terrorism and tourism in selected SAARC countries over a period of 1995 to 2012. For this purpose, different panel techniques has been used for robust analysis i.e., panel unit root test for stationary process, panel cointegration test for long-run relationship, panel dynamic ordinary least squares (DOLS) and Fully Modified Ordinary Least Squares( FMOLS) for short and longrun elasticities of the variables. The empirical results from FMOLS show that there is a positive relationship between economic growth and tourism on one hand, while on the other side; there is a positive relationship between terrorism and tourism in SAARC region. In the long-run, there is a negative relationship between political instability and tourism in the region. The results suggest that it is necessary to have a clear understanding of political issues, key political actors’ interests and how to mitigate personal interests to facilitate and maintain sustainable tourism development in SAARC region.
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