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Does Country Risk Influence International Tourism? A Dynamic Panel Data Analysis

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  • TIAGO NEVES SEQUEIRA
  • PAULO MAÇÃS NUNES

Abstract

International tourism determinants have been studied in recent research, and focus has been given to estimation of demand equations. Country risk has been somewhat neglected in the analysis. Given adequate controls for price and income, we show that country risk is a robust and significant determinant of tourism specialisation of countries: a 1 per cent increase in country risk causes a 0.2 per cent fall in tourism specialisation. Policy‐makers should be aware of the negative effect country risk has in tourism, as this is seen as one of the most promising sectors for development.

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  • Tiago Neves Sequeira & Paulo Maçãs Nunes, 2008. "Does Country Risk Influence International Tourism? A Dynamic Panel Data Analysis," The Economic Record, The Economic Society of Australia, vol. 84(265), pages 223-236, June.
    • Handle: RePEc:bla:ecorec:v:84:y:2008:i:265:p:223-236
    DOI: 10.1111/j.1475-4932.2008.00464.x
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    2. Horim Kim & Jaeyoung Kim & Kyungmyung Jang & Jaemin Han, 2020. "Are the Blockchain-Based Patents Sustainable for Increasing Firm Value?," Sustainability, MDPI, vol. 12(5), pages 1-17, February.
    3. Martins, Luís Filipe & Gan, Yi & Ferreira-Lopes, Alexandra, 2017. "An empirical analysis of the influence of macroeconomic determinants on World tourism demand," Tourism Management, Elsevier, vol. 61(C), pages 248-260.
    4. Smiljana Pivčević & Zvonimir Kuliš & Neven Šerić, 2016. "The pull factors of tourism demand: a panel data analysis for Latin American and Carribean countries," Tourism and Hospitality Industry 24, University of Rijeka, Faculty of Tourism and Hospitality Management.
    5. Abdelmohsen A. Nassani & Abdullah Mohammed Aldakhil & Muhammad Moinuddin Qazi Abro & Khalid Zaman, 2018. "Effective International Tourism Management: A Strategic Approach," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 137(3), pages 1201-1224, June.
    6. Kang, Martin & Miller, Andrew & Jang, Kyungmyung & Kim, Horim, 2022. "Firm performance and information security technology intellectual property," Technological Forecasting and Social Change, Elsevier, vol. 181(C).
    7. Gholipour, Hassan F. & Tajaddini, Reza & Nguyen, Jeremy, 2016. "Happiness and inbound tourism," Annals of Tourism Research, Elsevier, vol. 57(C), pages 251-253.
    8. Nathalie MONTARGOT & Abdessamad OUCHEN, 2018. "L’IDH, la stabilité politique et l’absence de violence- terrorisme comme facteurs explicatifs de l’attractivité touristique : le cas du bassin méditerranéen," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 47, pages 63-80.
    9. Jorge M. Andraz & Nélia M. Norte & Hugo S. Gonçalves, 2016. "Do tourism spillovers matter in regional economic analysis? An application to Portugal," Tourism Economics, , vol. 22(5), pages 939-963, October.
    10. Fateh Habibi & Hossein Abbasinejad, 2011. "Dynamic Panel Data Analysis of European Tourism Demand in Malaysia," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 16(2), pages 27-41, spring.

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