International Tourism and Economic Growth: a Panel Data Approach
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.
|Date of creation:||Nov 2005|
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Find related papers by JEL classification:
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
This paper has been announced in the following NEP Reports:
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- Ahad, Muhammad, 2016. "Does Tourism-led Growth Hypothesis Exist in Pakistan? A Fresh look from Combine Cointegration and Causality Approach with Structural Breaks," MPRA Paper 72430, University Library of Munich, Germany, revised 2016.
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- Sema AY & Elif KARAKURT TOSUN & Hilal YILDIRIR KESER, 2016. "ULUDAG WINTER TOURISM and ITS IMPORTANCE IN THE ECONOMIC DEVELOPMENT," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 31-39, August.
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