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Law, Political Stability, Tourism Management and Economic Development in Sub-Saharan Africa

Author

Listed:
  • Simplice A. Asongu

    (Yaounde, Cameroon)

  • Mushfiqur Rahman

    (University of Wales Trinity Saint David, UK)

  • Joseph Nnanna

    (Abuja, Nigeria)

Abstract

This study complements the extant literature by assessing how the rule of law and political stability modulate tourism development dynamics (i.e. tourism receipts and tourism expenditure) to affect economic development in terms of gross domestic product (GDP) per capita. The study focuses on 47 countries in sub-Saharan Africa (SSA) with data for the period 2002 to 2018 and the empirical evidence is based on the Generalized Method of Moments. The study finds that: (i) the rule of law modulates both tourism receipts and tourism expenditure for overall positive effects on economic development and (ii) political stability modulates tourism receipts for an overall positive impact on economic development. Policy implications are discussed.

Suggested Citation

  • Simplice A. Asongu & Mushfiqur Rahman & Joseph Nnanna, 2022. "Law, Political Stability, Tourism Management and Economic Development in Sub-Saharan Africa," Working Papers of the African Governance and Development Institute. 22/038, African Governance and Development Institute..
    • Handle: RePEc:agd:wpaper:22/038
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    References listed on IDEAS

    as
    1. Agbloyor, Elikplimi Komla & Abor, Joshua & Adjasi, Charles Komla Delali & Yawson, Alfred, 2013. "Exploring the causality links between financial markets and foreign direct investment in Africa," Research in International Business and Finance, Elsevier, vol. 28(C), pages 118-134.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Tourism Management; Economic Growth; Sub-Saharan Africa;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • Z3 - Other Special Topics - - Tourism Economics
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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