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Öğe Diversification in the tourism sector and economic growth in Australia: a disaggregated analysis(Wiley, 2023) Solarin, Sakiru Adebola; Lasisi, Taiwo Temitope; Hossain, Md. Emran; Bekun, Festus VictorIn most countries inclusive of Australia, tourism policies do not only deal with how to diversify tourism markets but also how to diversify tourism activities. Efforts are often made to increase the inflows of tourists from different source markets and to improve arrivals for various tourism activities. However, the existing literature on the economic impact of the diversification of the sector has not dealt with the economic impact of diversification of tourism markets. This study aims to examine the economic impact of diversification of both tourism markets and tourism activities. Using a newly developed tourism diversification index, the focus of the study is on Australia for the period, 1976-2020. Utilizing a dynamic autoregressive lag simulation approach, the results suggest that diversification of tourism markets and activities generated positive economic growth in Australia in line with the notion of tourism-led growth hypothesis. Empirical results outline that a 1% increase in diversification of tourism markets and activities generated increases in the gross domestic product by 0.010% and 0.070%, respectively. One of the implications of the results is that policies to diversify tourism markets and activities will be beneficial to the economy in Australia.Öğe Modeling natural gas consumption, capital formation, globalization, CO2 emissions and economic growth nexus in Malaysia: Fresh evidence from combined cointegration and causality analysis(ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS, 2020) Etokakpan, Mfonobong Udom; Solarin, Sakiru Adebola; Yorucu, Vedat; Bekun, Festus Victor; Sarkodie, Samuel AsumaduThe discovery of natural gas in the 20th century has increased aggregate energy consumption while spurring economic development. However, very little attention has been given in the energy economics literature, especially in Malaysia. As such, this paper primarily revisited the natural gas — economic growth nexus hypothesis in the case of Malaysia. The study was conducted with data from 1980 to 2014 in a multivariate framework with the inclusion of capital formation, globalization, and CO2 emissions to avoid omitted variable bias. We investigated the stationarity properties with a method that accommodates a single structural break. Subsequently, the novel combined co-integration test in conjunction with several techniques were used to assess the magnitude of the long-run equilibrium relationship. The empirical findings trace the long-run equilibrium relationship among the variables over the sampled period. The Granger causality test analysis confirmed the growth-energy driven hypothesis in Malaysia. The findings call for the adoption of cleaner and environmentally friendly energy sources in the Malaysian energy mix. We highlight the need for pragmatic strides from both private and public energy sector stakeholders to prioritize clean and accessible energy in line with the Sustainable Development Goals.Öğe Modelling the determinants of birth tourism demand: a time series analysis(Routledge Journals, Taylor & Francis Ltd, 2024) Solarin, Sakiru Adebola; Bello, Mufutau Opeyemi; Lasisi, Taiwo Temitope; Bekun, Festus VictorBirth tourism has been steadily rising in recent years as potential mothers travel across borders with the main purpose of giving birth. However, the economic reasons behind this form of tourism have not been adequately examined in the existing literature. This study explores the determinants of birth tourism by incorporating factors such as the average income of visitors, price level, exchange rate, and infant mortality while accounting for the potential impact of the Citizenship Amendment Act 2005 in New Zealand. The variables have been introduced into the model using a standard tourism demand framework and a new dynamic autoregressive distributed lag method has been used in the study. Ultimately, rising income of visitors and exchange rate are reported to boost birth tourism while rising price reduces birth tourism. The result also shows that the implementation of the Citizenship Amendment Act 2005 has no significant effect on birth tourism, which implies that monetary and financial considerations such as the income of tourists, price level, and exchange are the most important drivers of birth tourism in New Zealand.Öğe Sustainable electricity generation: the possibility of substituting fossil fuels for hydropower and solar energy in Italy(TAYLOR & FRANCIS INC, 530 WALNUT STREET, STE 850, PHILADELPHIA, PA 19106, 2021) Solarin, Sakiru Adebola; Bello, Mufutau Opeyemi; Bekun, Festus VictorElectricity remains the most important form of end-use energy consumption and an important factor for economic growth and development. However, electricity generation also constitutes a great source of concern for global warming and climate change with threats to sustainable development as fossil fuels dominate electricity generation fuel mix for most economies of the world. This is exactly the case for Italy with fossil fuels dominating electricity generation fuel mix over the last couple of decades. Thus, there is a need to reverse this trend by increasing the shares of renewable energy sources in the fuel mix. This study, therefore, investigates the potentials for renewable energy sources of hydropower and solar energy to substitute the fossil fuels of coal and natural gas in electricity generation for Italy. Adopting the ridge regression procedure to obtain the parameter estimates, the results provide evidence that substitution is possible among all fuels. While both hydropower and solar energy are found to be substitutable for the fossil fuels, solar energy is found to provide more substitutability than hydropower. This implies that Italy has the potential to gradually move away from the carbonintensive fossil fuels of coal and gas to more environmental-friendly solar energy and hydropower in the process of generating electricity.Öğe Towards achieving environmental sustainability: environmental quality versus economic growth in a developing economy on ecological footprint via dynamic simulations of ARDL(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2021) Solarin, Sakiru Adebola; Nathaniel, Solomon Prince; Bekun, Festus Victor; Okunola, Akinbode Michael; Alhassan, AbdulkareemStudies have shown that factors like trade, urbanization, and economic growth may increase the ecological footprint (EFP) since ecological distortions are mainly human-induced. Therefore, this study explores the effect of economic growth and urbanization on the EFP, accounting for foreign direct investment and trade in Nigeria, using data from 1977 to 2016. This study used the EFP variable as against the CO2 emissions used in the previous studies since the former is a more comprehensive and extensive measure of environmental quality. We apply the novel dynamic autoregressive distributed lag (ARDL) simulations for model estimation, the Bayer and Hanck J Time Ser Anal 34: 83–95, (2013) combined cointegration, and the ARDL bounds test for cointegration. Although the results affirmed the presence of long-run relationship among the variables, economic growth deteriorates the environment in the short run, while urbanization exacts no harmful impact. In the long run, FDI and trade deteriorate the environment while economic growth adds to environmental quality. It is recommended that policymakers strengthen the existing environmental regulations to curtail harmful trade and provide rural infrastructures to abate urban anomaly.