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The contribution of tourism to the economic growth of Pacific Island countries (PICs) has achieved significance in the … substitution and agriculture to urban-based manufacturing and services sectors. Tourism is the main component of the services … sector in the PICs. The contribution of tourism to economic growth in Fiji, Tonga, the Solomon Islands and Papua New Guinea …
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In this article, we consider the stability of the real effective exchange rates for four Pacific Island countries using the Lee and Strazicich (2003a, b) unit root test, which allows one to incorporate at most two structural breaks in the data series. Our main finding is that for Papua New...
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