CAUSALITY BETWEEN TOURISM EXPORTS AND TRADE OPENNESS: EMPIRICAL ANALYSIS FOR ROMANIAN TOURISM
CAUSALITY BETWEEN TOURISM EXPORTS AND TRADE OPENNESS: EMPIRICAL ANALYSIS FOR ROMANIAN TOURISM

Summary/Abstract: This study investigates the causal relationships between tourism exports and trade openness, using the case of Romania. The study applies the unit root test, cointegration procedure and Granger causality test in vector error correction model (VECM), in the attempt to study the direction of the causalities. The results indicate one-way Granger causality, running from trade openness to tourism exports in the case of Romania.

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