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The Effects of Air Transportation, Energy, ICT and FDI on Economic Growth in The Industry 4.0 Era: Evidence from The United States.

Adedoyin, F., Bekun, F.V., Driha, M.O. and Balsalobre-Lorente, D., 2020. The Effects of Air Transportation, Energy, ICT and FDI on Economic Growth in The Industry 4.0 Era: Evidence from The United States. Technological Forecasting and Social Change, 160 (November), 120297.

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DOI: 10.1016/j.techfore.2020.120297

Abstract

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.

Item Type:Article
ISSN:1873-5509
Uncontrolled Keywords:Tourism Led Growth Hypothesis ; Foreign Direct Investment ; Air Transport ; ICTs ; Industry 4.0
Group:Faculty of Management
ID Code:34499
Deposited By: Unnamed user with email symplectic@symplectic
Deposited On:04 Sep 2020 11:21
Last Modified:21 Sep 2020 11:12

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