Sequeira, Tiago Neves; Campos, Carla - Fondazione ENI Enrico Mattei (FEEM) - 2005
On average, tourism-specialized countries grow more than others. This fact is inconsistent with economic theory as, in … 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 …