Do foreign visitors reward post-communist countries? A panel evidence for tourism-growth nexus

Raufhon Salahodjaev and Nilufar Safarova

MPRA Paper from University Library of Munich, Germany

Abstract: 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)
Date: 2015-08-20
New Economics Papers: this item is included in nep-tra and nep-tur
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