International Tourism and Economic Growth: A Panel Data Approach
Tiago Neves Sequeira
University of the Interior of Beira - Faculty of Social Sciences and Humanities; New University of Lisbon - Faculdade de Economia
University of the Interior of Beira - Faculty of Social Sciences and Humanities
FEEM Working Paper No. 141.05
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.
Number of Pages in PDF File: 25
Keywords: Tourism, Economic growth, Panel data
JEL Classification: L83, O40, O50working papers series
Date posted: November 30, 2005
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