At present, both in Romania and in Europe, tourism tends to become one of the biggest industries, with great development possibilities in the future. The economic development of Romania including tourism benefits from the support of the European Union, and has the purpose to reduce the gaps in...

This paper investigates output convergence for the G7 countries using multivariate time series techniques. We consider both the null hypotheses of no convergence and convergence. It is shown that inferences on output convergences depend on which one of the two null hypotheses is considered....