Cointegration Analyses of the Tourism Sector on Economic Development: Case of Azerbaijan


International Research Journal of Economics and Management Studies
© 2025 by IRJEMS
Volume 4  Issue 6
Year of Publication : 2025
Authors : Huseynova Sara, Samira Rzamova
irjems doi : 10.56472/25835238/IRJEMS-V4I6P112

Citation:

Huseynova Sara, Samira Rzamova. "Cointegration Analyses of the Tourism Sector on Economic Development: Case of Azerbaijan" International Research Journal of Economics and Management Studies, Vol. 4, No. 6, pp. 93-97, 2025.

Abstract:

The purpose of the analyze the integration process tourism sector on economic growth. In research, the Johansen cointegration test, vector-error-correlation-model (VECM). The result was further substantiated by the tests based on Johansen cointegration and VECM procedures, showing significant long-run economic relations. The research applies the cointegration techniques in the context of Economic growth indicators.

References:

[1] Pablo-Romero, MDP, & Molina-González, MD (2013). Tourism and economic growth: A review of empirical literature. Social Indicators Research, 114(3), 1003-1029.
[2] Sharpley, R. (2011). Tourism development and the environment: Beyond sustainability. Routledge.
[3] Guliyev, RR, & Huseynova, SM (2016). Research on Azerbaijan's import and annual GDP co-relation based on econometric models in the frame of joining WTO. Journal of Contemporary Applied Mathematics-ISSN: 2222-5498, 6(1).
[4] Mubariz, HS (2016). The influence of international migration on international trade. European journal of economics and management sciences, (3), 27-29.
[5] Huseynova, S. (2023). COINTEGRATION ANALYSIS OF ECONOMIC GROWTH PARAMETERS BETWEEN RUSSIA AND AZERBAIJAN. Sciences of Europe, (110), 26-31.
[6] Huseynova, S., & Ch, I. ANALYSIS OF THE WTO AND THE PROCESS OF INTEGRATION OF AZERBAIJAN INTO THE WORLD ECONOMY SUMMARY. GENETICS AND BIOTECHNOLOGY, 25.
[7] UNWTO. (2019). Tourism highlights 2019. World Tourism Organization.
[8] UNWTO. (2020). Tourism and the Sustainable Development Goals – Journey to 2030. United Nations World Tourism Organization.
[9] World Bank. (2020). World development indicators. World Bank.
[10] WTTC. (2021). Economic impact of global tourism. World Travel & Tourism Council.
[11] www.stat.gov.az

Keywords:

Economic Growth, Azerbaijan, Johansen Cointegration Test, VECM.