International Tourism and Economic Growth: A Panel Data Approach
Date
01.01.2005
01.01.2005
Authors
Tiago Neves Sequeira, Carla Campos
JEL Code
L83,O40,O50
L83,O40,O50
Keywords:
Tourism,Economic growth,Panel data
Tourism,Economic growth,Panel data
Publisher
Climate Change and Sustainable Development
Climate Change and Sustainable Development
Editor
Carlo Carraro
Carlo Carraro
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.