Do foreign visitors reward post-communist countries? A panel evidence for tourism-growth nexus
Raufhon Salahodjaev () and
MPRA Paper from University Library of Munich, Germany
Using cross-country panel data for 23 post-communist countries, we provide novel empirical evidence that tourism exerts a positive and significant effect on economic growth after controlling for conventional determinants in the growth equation. The system GMM results suggest that per-capita tourism receipts increase by 10 percent, the per-capita growth rate increases by 1.36% points, ceteris paribus. The results remain robust under various estimation methods.
Keywords: tourism; economic growth; post-communist; GMM; PCSE. (search for similar items in EconPapers)
JEL-codes: O1 O11 O4 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:66215
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