How does institutional quality moderates the impact of tourism on economic growth? Startling evidence from high earners and tourism-dependent economies:
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In the tourism-reliant economies, policymakers have been saddled with the mandate to not only accelerate economic growth but also increase the living standards of domestic citizens as discussed by the authors, which has been proven to be difficult.Abstract:
Over the years, policymakers in tourism-reliant economies have been saddled with the mandate to not only accelerate economic growth but also increase the living standards of domestic citizens. Tour...read more
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Tourism-led Growth Hypothesis in the Top Ten Tourist Destinations: New Evidence Using the Quantile-on-Quantile Approach
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References
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Manuel Arellano,Stephen Bond +1 more
TL;DR: In this article, the generalized method of moments (GMM) estimator optimally exploits all the linear moment restrictions that follow from the assumption of no serial correlation in the errors, in an equation which contains individual effects, lagged dependent variables and no strictly exogenous variables.
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TL;DR: In this article, the authors proposed a two-way error component regression model for estimating the likelihood of a particular item in a set of data points in a single-dimensional graph.
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Why Do Some Countries Produce so Much More Output Per Worker than Others
TL;DR: This paper showed that differences in physical capital and educational attainment can only partially explain the variation in output per worker, and that a large amount of variation in the level of the Solow residual across countries is driven by differences in institutions and government policies.
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Why do Some Countries Produce So Much More Output Per Worker than Others
Robert E. Hall,Charles I. Jones +1 more
TL;DR: This article showed that the differences in capital accumulation, productivity, and therefore output per worker are driven by differences in institutions and government policies, which are referred to as social infrastructure and called social infrastructure as endogenous, determined historically by location and other factors captured by language.
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Testing for Granger Non-causality in Heterogeneous Panels
TL;DR: In this paper, a simple test of Granger (1969) non-causality for hetero- geneous panel data models is proposed, based on the individual Wald statistics of Granger non causality averaged across the cross-section units.