Adedoyin Festus Fatai, Bekun Festus Victor, Driha Oana M, Balsalobre-Lorente Daniel
Department of Accounting, Finance and Economics, Bournemouth University, UK.
Faculty of Economics and Administrative Sciences, Istanbul Gelisim University, Istanbul, Turkey.
Technol Forecast Soc Change. 2020 Nov;160:120297. doi: 10.1016/j.techfore.2020.120297. Epub 2020 Sep 11.
This study analyses the causal and long-run linkage between air transport and economic growth. It was conducted to validate the tourism-led growth hypothesis for the United States (US) during the period 1981-2017 and includes Information and Communication Technologies (ICTs) alongside coal rents in the tourism-led growth hypothesis. This study presents a new direction for future studies by considering the relevance of the fourth industrial revolution (Industry 4.0), particularly in the US. To achieve the stated claim, this study considers as additional explanatory variables how ICTs moderate the impact of Foreign Direct Investment (FDI) on GDP. The empirical result confirms a connection between the Industry 4.0 era and the role of ICTs, which promotes substantial changes in the way of life and productivity. This has led to a vast technological advancement, which is in line with but at a faster pace than the technological advancement of previous revolutions. From empirical results, the study provides relevant policy recommendations related to the role of natural resources, new technologies and tourism on US GDP, while it also provides evidence of the positive effect of ICTs over FDI under the Industry 4.0 era.
本研究分析了航空运输与经济增长之间的因果关系和长期联系。该研究旨在验证1981年至2017年期间美国的旅游带动增长假说，并且在旅游带动增长假说中纳入了信息通信技术（ICTs）以及煤炭租金。本研究通过考虑第四次工业革命（工业4.0）的相关性，特别是在美国的相关性，为未来的研究提供了一个新方向。为了实现上述主张，本研究将信息通信技术如何调节外国直接投资（FDI）对国内生产总值（GDP）的影响作为额外的解释变量。实证结果证实了工业4.0时代与信息通信技术的作用之间的联系，信息通信技术促进了生活方式和生产力的重大变化。这带来了巨大的技术进步，这与以往革命的技术进步相一致，但速度更快。从实证结果来看，该研究提供了与自然资源、新技术和旅游业对美国GDP的作用相关的政策建议，同时也提供了在工业4.0时代信息通信技术对外国直接投资具有积极影响的证据。
