Research trying to explain tourism flows and expenditures for different destinations has so far adopted either a tourism-demand or a tourism-supply approach. Whereas on the one hand the former ignores the product specificities (Papatheodorou, 2001), the latter, on the other, fails to take into...

This paper aims to test the conjecture advanced in a recent work by Bianchi and Menegatti (2007) that usual !convergence panel regressions may produce biased evidence, due to their inability to distinguish between actual catching-up across countries and decreasing growth rates over time within...