On the Investigation of Factors Effecting International Tourist Arrivals to Cambodian Market: A Static and Dynamic Gravity Approach

Theara Chhorn

MPRA Paper from University Library of Munich, Germany

Abstract: The paper investigates factors influencing international tourist arrivals into the Cambodian market during the period of 1995 to 2015, covered 32 cross-sectional countries by adopting a static and dynamic gravity approach with respect to fixed effects (FE) and random effects (RE) and the GMM estimator of Arellano and Bond (1991). Our analysis shows that mostly economic factors such as travel cost, GDP per capita and population size are the main sources in attracting international tourist arrivals. The country specific dummy variables are found to be associated with the respects to its significant level. The empirical results demonstrate that one and two step GMM with robust standard errors produces better outcomes and improves the estimated accuracy over a static approach.

Keywords: Gravity Model; International Tourist Arrivals; Arellano and Bond (1991); GMM; Fixed and Random Effect; Cambodia (search for similar items in EconPapers)
JEL-codes: C1 C3 C33 C50 C82 Z0 Z00 (search for similar items in EconPapers)
Date: 2017-04-24, Revised 2017-07-18
New Economics Papers: this item is included in nep-sea and nep-tur
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Published in Southeast Asian Journal of Economics 2.5(2017): pp. 115-138

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:83813

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