International Tourism and Economic Growth: A Panel Data Approach
25 Pages Posted: 30 Nov 2005
Date Written: November 2005
Abstract
On average, tourism-specialized countries grow more than others. This fact is inconsistent with economic theory as, in particular, endogenous growth theory suggests that economic growth is linked with: (1) sectors with high intensity in R&D and thus high productivity; (2) large scale. In this paper, we use panel data methods to go further in treating the endogeneity problem. In general and contrary to previous works, we conclude that tourism, on its own, cannot explain the higher growth rates of these countries.
Keywords: Tourism, Economic growth, Panel data
JEL Classification: L83, O40, O50
Suggested Citation: Suggested Citation
Neves Sequeira, Tiago and Campos, Carla, International Tourism and Economic Growth: A Panel Data Approach (November 2005). FEEM Working Paper No. 141.05, Available at SSRN: https://ssrn.com/abstract=855985 or http://dx.doi.org/10.2139/ssrn.855985
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