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Does tourism influence economic growth? A dynamic panel data approach

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  • Tiago Neves Sequeira
  • Paulo Macas Nunes

Abstract

On average, tourism-specialized countries grow more than others. This is not consistent with the core of modern economic growth theory that suggests that economic growth is linked to sectors with high-tech intensity and large scale. In this article, we use appropriate panel data methods to study the relationship between tourism and economic growth. In general, we show that tourism is a positive determinant of economic growth both in a broad sample of countries and in a sample of poor countries. However, contrary to previous contributions, tourism is not more relevant in small countries than in a general sample.

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  • Tiago Neves Sequeira & Paulo Macas Nunes, 2008. "Does tourism influence economic growth? A dynamic panel data approach," Applied Economics, Taylor & Francis Journals, vol. 40(18), pages 2431-2441.
    • Handle: RePEc:taf:applec:v:40:y:2008:i:18:p:2431-2441
    DOI: 10.1080/00036840600949520
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    References listed on IDEAS

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    1. Stephen Bond & Anke Hoeffler & Jonathan Temple, 2001. "GMM Estimation of Empirical Growth Models," Economics Papers 2001-W21, Economics Group, Nuffield College, University of Oxford.
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    3. Rinaldo Brau & Alessandro Lanza & Francesco Pigliaru, 2003. "How Fast are the Tourism Countries Growing? The cross-country evidence," Working Papers 2003.85, Fondazione Eni Enrico Mattei.
    4. World Bank, 2004. "World Development Indicators 2004," World Bank Publications - Books, The World Bank Group, number 13890.
    5. A. Lanza & F. Pigliaru, 1999. "Why Are Tourism Countries Small and Fast-Growing?," Working Paper CRENoS 199906, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
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