The effects of air transportation, energy, ICT and FDI on economic growth in the industry 4.0 era: Evidence from the United States
Open accessAbstract
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.
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According to the literature, ICT has the potential to positively contribute to sustainable development.
“According to the literature, ICT clearly has the potential to positively contribute to sustainable development.”
From ICT sector, digitization and environmental sustainability: A systematic review of the literature from 2000 to 2022 (2023) · cites this paper as [17]
The Literature review (page unavailable) says ICT may create opportunities in sustainable industrial manufacturing and describes its potential benefits for economic growth. That supports a positive contribution to aspects of development, but the paper does not establish the broader claim about sustainable development as a whole. (LLM, conf=0.82)
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References 127 · Cited by 199
Research works printed but not linked: 3
- Aghion P. Howitt P. Endogenous growth 1998 MIT press
- Ngouhouo I. Les Investissements Directs étrangers en Afrique centrale: Attractivité Et Effets économiques (Doctoral Dissertation) 2008 Laboratoire d’économie Appliquée au Développement
- UNWTO, J.2016. World Tourism Barometer. Vol. 14.
- Authors
- Adedoyin, F. F., Bekun, F. V., Driha, O. M., & Balsalobre-Lorente, D.
- Affiliations
- Bournemouth University (GB)
- University of Alicante (ES)
- Venue
- Technological Forecasting and Social Change
- Publisher
- Elsevier BV
- Published
- 2020-11
- Volume
- 160
- Pages
- 120297
- ISSN
- 0040-1625 (ISSN-L)
- PMC
- PMC7484704
- OpenAlex
- W3086307454
- Cited by
- 199
- References
- 127
- Citations by year
- 2026: 11 · 2025: 29 · 2024: 47 · 2023: 38 · 2022: 43 · 2021: 27 · 2020: 4
- FWCI
- 26.37
- Type
- journal article
- Language
- en
- Open access
- green
- www.ncbi.nlm.nih.gov
- Locations
- Technological Forecasting and Social Change (publishedVersion)
- PubMed Central (publishedVersion)
- PubMed (publishedVersion)
- Bournemouth University Research Online (Bournemouth University) (acceptedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- RUA, Repositorio Institucional de la Universidad de Alicante (Universidad de Alicante) (submittedVersion)
- Topics
- Physical Sciences › Computer Science › Information Systems › Economic Growth and Development
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Aviation Industry Analysis and Trends
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
- Keywords
- airline industry, economic growth, tourism-led growth hypothesis, information and communication technologies, foreign direct investment, Industry 4.0, coal rents, natural resources, gross domestic product, United States
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