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Does institutional quality affect tourism demand? Evidence from India
Abstract
Purpose
The purpose of this paper is to empirically examine the impact of institutional quality on the international tourism demand of India. To carry out the analysis, the study first analyses the impact of composite institutional quality index and then proceeds to examine the impact of each of the individual components of institutional quality on the international tourism demand of India. The impact of income of the tourist originating countries, tourism price, trade openness and Human Development Index (HDI) on tourism demand has also been examined.
Design/methodology/approach
The study employed panel autoregressive distributed lag (ARDL) model, with data from top 30 tourist originating countries for India for the period of 1995–2016.
Findings
The results indicated that an increase in the income of the tourist originating countries has spillover effects on the development of tourism sector of India. The impact of cost of travel proxied by relative prices between the destination and origin country is found to be negative, however, statistically insignificant. The impact of trade openness and development level of the host country (proxied by HDI) is found to have positive association with the tourism demand. Institutional quality is found to have positive association with international tourism demand of India. Among the individual components of institutional quality, rule of law, regulatory quality, control of corruption and voice and accountability are found to promote the tourism sector development in the economy. Contrarily, the impact of government effectiveness is found to be negative. In the short run, most of the variables were found to support their counterpart results in long run.
Practical implications
This study has practical implication not only in formulating tourism sector policies of the host countries but also for issuing tourist advisories in tourist originating countries. The study holds that policymakers should work for improving institutional environment of the country such as bureaucracy, legislature, regulatory quality, rule of law and for reducing corruption at all levels so as to ensure a sustained rise in tourist inflows to India.
Originality/value
This study validates the link between institutional quality of a country and international demand for its tourism. To the best of the authors' knowledge, the study is the first attempt that has comprehensively analysed the impact of institutional quality on tourism demand in Indian context which has been generally ignored in the tourism literature.
... Institutional quality has long been seen to play a key role in the field of economic development (Heshmati et al. 2019;Kim and Wood 2020;Zhang et al. 2022). Mushtaq et al. (2020) opined that institutional quality signifies the quality of institutions that govern laws, government property rights, constitution, and traditions necessary for personal relationships amongst stakeholders. Iftikhar et al. (2022) assumed that institutional quality is a determining factor in a nation's tourism development and sustainability. ...
... Iftikhar et al. (2022) assumed that institutional quality is a determining factor in a nation's tourism development and sustainability. Using the ARDL model in the Indian context, for instance, Mushtaq et al. (2020) noted institutional quality's positive influence on international tourism demand from 1955 to 2016. Similarly, with the aim to determine the effect of institutional quality in Malaysia's tourism and financial development, Lee (2020) utilized the country's data from 1996 to 2015 and found that government effectiveness and corruption control contributed a pivotal role on tourism and financial development. ...
... vast array of literature (see,Mushtaq et al. 2020;Iftikhar et al. 2022;Ghalia et al. 2019;Atkinson and Hamilton 2003;Hyndman 2015;Khan et al. 2020;Balli et al. 2018;Demir and Gozgor 2018;Kim et al. 2018;Tang 2018;Lai 2020;Lee 2020;Stoever 2012; ...
As the Central Asian region emerges from the grips of the COVID-19 pandemic, it can look ahead with a sense of optimism. Nestled within its confines, lie many unique tourist attractions that provide a variety of year-round quality experiences, which can form the catalyst for sustainable economic growth over the long-term. This study examines the important role the Tourism sector can play in driving economic growth along in the Central Asian corridor. It also details the key policy initiatives that Governments can look to implement and in particular, the role the Belt and Road Initiative (BRI) plays in driving key infrastructural projects that enhance the level of connectivity to tourism markets in the region. In addition to this, our study assesses what the potential green growth developmental agenda might look like for the tourism sector. Our research showed that the BRI will potentially prove to be the largest infrastructure project in history, enormously affecting the growth of tourist industries in the regions including and surrounding the Silk Road In these regions, institutional growth and social change, both affected by technological developments, will likely drive the growth of tourism industries. The BRI provides the backbone to these developments.
... The governance index/institutional quality endorses IGG by discouraging free movement, corruption, political instability, and economic recession, and enhancing confidence, collaboration, and investment. The governance index has an economically significant and constructive impact on a country's development; thus, it can distinguish between levels of IGG and sustainability in different countries (Ghalia, Fidrmuc, Samargandi, & Sohag, 2019;Khan et al., 2020;Mushtaq, Thoker, & Bhat, 2020). The governance index encourages tourist inflow to a country (Ghalia et al., 2019;Mushtaq et al., 2020), which is beneficial for sociocultural development. ...
... The governance index has an economically significant and constructive impact on a country's development; thus, it can distinguish between levels of IGG and sustainability in different countries (Ghalia, Fidrmuc, Samargandi, & Sohag, 2019;Khan et al., 2020;Mushtaq, Thoker, & Bhat, 2020). The governance index encourages tourist inflow to a country (Ghalia et al., 2019;Mushtaq et al., 2020), which is beneficial for sociocultural development. The governance index has an economically significant and constructive effect on sustainable development (Bekhet & Latif, 2018;Meyer, Masehla, & Kot, 2017;Stoever, 2012). ...
... The governance index refers to the value of organisations that administer the constitution, property rights of the government, traditions, and laws (Mushtaq et al., 2020). The governance index substantially influences green growth by introducing best practices of government involvement. ...
This study determines the influence of governance-by-technology (including the e-governance index and governance index) and socio-cultural factors (including sociocultural integration and household consumption per-capita) on inclusive green growth (IGG) with the moderating effect of global financial integration. Government expenditures and poverty were used as control variables. This study used the data of 64 Belt and Road initiative (BRI) partner countries from 2005 to 2020, which was analysed using the two-step system GMM (the generalized method of moments). The results was analysed using the two-step system GMM (the generalized method of moments) and validated through the D-K regression, 2SLS and dynamic fixed-effect robustness methods. Outcomes indicated that global financial integration positively moderates the relationship between governance-by-technology and IGG. Therefore, it can be stated that global financial integration, e-governance index, governance index, and sociocultural integration endorse IGG. The findings of this study contribute to the existing literature by providing new insights into inclusive green development, governance, technology, and socio-cultural integration. This study also encourages policymakers and institutions to focus on governance, e-governance, socio-cultural factors, and financial integration to boost inclusive green growth in the BRI region.
... Institutional quality denotes the quality of institutions that govern laws, government property rights, constitution, and traditions essential for the personal relationship amongst the stakeholders [13]. Previous literature has argued that higher institutional quality can affect the tourists' flow. ...
... In addition, [9] estimated the asymmetries between all variations in institutional quality and tourism inflows from 1980-2018 by utilizing the balanced panel data of the Asian Pacific region. ARDL model was employed by [13] to observe the positive influence of institutional quality on demand of international tourism in India from 1995-2016. The existence of terrorism is very harmful to the tourism sector growth as it can force travellers to alter their travel destination as personal safety is the priority for everyone. ...
... Moreover, [58] constructed these six indicators, including political stability and the absence of violence, control of corruption, regulatory quality, government effectiveness, the rule of law, and voice and accountability. This proxy was followed by [13,14,46,48]. ...
This study investigated the influence of tourism on sustainable development while considering institutional quality as a moderating variable. Moreover, exchange rate, urbanization, household consumption, per capita income and renewable energy per capita were also essential factors in determining sustainable development. The sample consists of 64 Belt and Road Initiative (BRI) countries from 2003–2018. The outcomes of the two-step system GMM confirmed the statistically significant and positive dynamic nature of sustainable development and its relationship with tourism and other determinants at a significance level of 1% for BRI countries. Institutional quality enhanced the 4.693% sustainability path to achieve the sustainable development goals (SDGs) agenda with regionally interconnected countries at significance level of 1%. Renewable energy per-capita and income per-capita played a significant and positive role, while the exchange rate, household consumption, and urbanization negatively influenced by hurting thd path of sustainable development. The current research findings have valuable contributions to academics as it offers novel insights about the 0. 351% influence of tourism on sustainable development at significance level of 1%, and it proposes valued suggestions to policymakers concerning tourism development strategies.
... rule of law, democracy, corruption, political stability, political freedom, press freedom, regulatory quality) on inbound and outbound tourism (e.g. Demir and Gozgor, 2019;Ghaderi et al., 2017;Gholipour and Foroughi, 2019;Gholipour and Foroughi, 2020;Kim et al., 2018;Lee and Chen, 2020;Mushtaq et al., 2020;Roxas and Chadee, 2013;Saha et al., 2017;Tang, 2018), no cross-country study has been published on capturing the joint effects of telecommunications infrastructure and the quality of regulations (as a proxy for the quality of public-private relationship) on inbound tourism in developing countries. Second, several researchers have examined the moderating role of institutional variables (e.g. ...
... The suggestion is that policymakers should focus more on the means of these measures in order to increase international tourist arrivals. Mushtaq et al. (2020) examine the impact of institutional quality on India's level of international tourism demand. They find that in the long run, rule of law, regulation quality, voice and accountability and control of corruption are the key factors positively affecting tourist arrivals. ...
... They find that in the long run, rule of law, regulation quality, voice and accountability and control of corruption are the key factors positively affecting tourist arrivals. Mushtaq et al. (2020) conclude that tourists generally prefer countries with more effective and properly enforced regulations, well-established rule of law and strong judicial systems. Roxas and Chadee (2013) examine the effects of formal institutions on the performance of the tourism sector in the Philippines considering entrepreneurial orientation as the mediating factor. ...
This study investigates the relationship between capital investment in telecommunications infrastructure (TELCOM) and tourist arrivals in developing countries. Additionally, it examines whether the public-private sectors relationship moderates the effect of TELCOM on inbound tourism. The model is empirically tested for 46 developing countries for the years 2005-2019. Applying system generalized method of moments and dynamic fixed-effects estimators, the results show there is a positive and significant relationship between TELCOM and tourist arrivals. We also find that a stronger relationship between the public and private sectors magnifies the positive effect of TELCOM on inbound tourism. The moderating effect of quality of regulations on TELCOM-tourism nexus is a novel finding, highlighting the important role of governments in creating and implementing sound policies and regulations that permit and promote private sector development.
... Historical, institutional and democratic factors can explain the heterogeneity in terms of RQ among European countries [13]. RQ positively affect tourism in India [14]. RQ has a positive impact in promoting the economic performance either in oil either in non-oil developing countries [15]. ...
... Synthesis of the Literature Review by Main Themes RQ , Economic Growth and Development [1], [8], [12], [15], [21], [4], [25] RQ, Financial Sector and Financial Markets [2], [3], [16], [17], [22], [9], [23], [27] RQ, Environment and Energy [5], [6] , [10], [11], [24], [26] Miscellaneous [7], [13], [14], [18] RQ, Social and Demographic Issues [19], [20] 3. ...
In this article, we analyse the determinants of Regulatory Quality-RQ for 193 countries in the period 2011-2020. We use a database from ESG-Environment Social Governance of the World Bank. We apply OLS, Panel Data with Fixed Effects and Panel Data with Random Effects. We found that the variables that have the most positive impact on RQ, among others, are “GHG Net Emission”, “Mean Drought Index”, and “Heat Index”. We also found that the variables that have the most negative impact on RQ are among others “Renewable Energy Consumption”, “Voice and Accountability” and “Rule of Law”. Furthermore, we have applied the k-Means algorithm optimized with the Elbow Method and we find the presence of five clusters. In adjunct, we confront eight machine learning algorithms to predict the value of RQ and we found that the best predictor is Polynomial Regression. The predictive level of RQ for the analysed countries is expected to diminish of -1,29%. In the end, we present a network analysis with the Euclidean distance and we found the presence of a structure of seven networks using augmented data.
JEL Classification: D7, D70, D72, D73, D78.
... Historical, institutional and democratic factors can explain the heterogeneity in terms of RQ among European countries [13]. RQ positively affect tourism in India [14]. RQ has a positive impact in promoting the economic performance either in oil either in non-oil developing countries [15]. ...
... Synthesis of the Literature Review by Main Themes RQ , Economic Growth and Development [1], [8], [12], [15], [21], [4], [25] RQ, Financial Sector and Financial Markets [2], [3], [16], [17], [22], [9], [23], [27] RQ, Environment and Energy [5], [6] , [10], [11], [24], [26] Miscellaneous [7], [13], [14], [18] RQ, Social and Demographic Issues [19], [20] 3. ...
In this article, we analyse the determinants of Regulatory Quality-RQ for 193 countries in the period 2011-2020. We use a database from ESG-Environment Social Governance of the World Bank. We apply OLS, Panel Data with Fixed Effects and Panel Data with Random Effects. We found that the variables that have the most positive impact on RQ, among others, are “GHG Net Emission”, “Mean Drought Index”, and “Heat Index”. We also found that the variables that have the most negative impact on RQ are among others “Renewable Energy Consumption”, “Voice and Accountability” and “Rule of Law”. Furthermore, we have applied the k-Means algorithm optimized with the Elbow Method and we find the presence of five clusters. In adjunct, we confront eight machine learning algorithms to predict the value of RQ and we found that the best predictor is Polynomial Regression. The predictive level of RQ for the analysed countries is expected to diminish of -1,29%. In the end, we present a network analysis with the Euclidean distance and we found the presence of a structure of seven networks using augmented data.
... Several recent studies have examined the impact of institutional quality on ITR. For instance, Demir et al. (2019) for 18 developing countries, Tang and Lau (2021) and Tang (2018) for Malaysia; Mushtaq et al. (2020) for India, Osinubi et al. (2022) for African countries, Zhao (2021), Nadeem et al. (2020) and Meo et al. (2018) for Pakistan, Senadeerage (2020) for Sri Lanka and Balli et al. (2016) for 52 developing countries. These studies found a significant effect of institutional quality on ITR in these countries. ...
... Likewise, Kim et al. (2018) claimed that countries with stable law and order conditions attract tourists worldwide. According to a few recent studies, a stable institutional environment and law and order condition leads to an increase in tourism receipts and foreign remittances (Ghalia et al., 2019;Mushtaq et al., 2020). The Worldwide Governance Indicators (WGI) constructed by Kaufmann et al. (2010) are generally used to capture the different aspects of governance and institutions. ...
The increasing dependence of South Asian countries on international remittances (IRM) and international tourism development (ITR) in the presence of political uncertainties has attracted scholars' attention. Although the largest receiver of IRM, South Asia fails to channel these funds to the tourism industry, which continues to operate below its potential. This study estimates the impact of IRM, political stability (PS), and their interaction with foreign direct investment (FDI) and relative price (RP) on ITR in South Asia. We used a balanced panel dataset of six South Asian countries from 1996 to 2020. We applied the pooled ordinary least squares (POLS), fixed effects (FE), feasible generalized least squares (FGLS), and Prais-Winsten regression with panel-corrected standard errors (PCSE), to estimate the results. The study discovered quite interesting and surprising results between IRM and ITR. The results suggest a statistically significant negative impact of IRM on ITR in South Asia, implying that the recipients of IRM tend to spend most of it on their basic level consumption needs and do not have incentives to save and invest. Further, the results suggest that PS positively moderates the relationship between IRM and ITR, suggesting that IRM will be channelized to the tourism sector if domestic investors expect low political risks in the region. In addition, the results indicate that PS and FDI have a statistically significant positive effect on ITR in South Asia. Moreover, RP has a negative and significant impact on ITR, implying that international tourists prefer cheaper destinations. This study provides crucial implications for South Asian economies. First, effective public policies are specifically designed for channelling IRM and FDI, focusing on enhancing the tourism industry's infrastructure. Second, PS is necessary for ITR and domestic investors to invest IRM in the tourism sector. Thus, policymakers must consider political factors while designing tourism policies and strategies. Third, the findings highlight the significance of price competitiveness for developing the tourism industry. Hence, we argue that policymakers should implement effective economic policies to stabilize regional prices to attract international tourists.
... In this context, Lee (2015) constructed the quality of governance variable by averaging corruption, law and order, and bureaucracy quality and scaling them between 0 and 1. Lee (2015) provided evidence that government quality is positively linked with tourism competitiveness based on the OLS estimation for 117 countries. As a contemporary example, Mushtaq et al. (2020) analyzed whether institutional quality affects tourism development in India from 1995 to 2016. They showed that trade openness and institutional quality (PCA of WGIs) have a stimulating effect on the tourism development in India. ...
... The empirical estimation of the above model specified in the second equation was realized through the ARDL model which is a model that allows the researchers to analyze the cointegration among the variables that are integrated into different orders except two (Pesaran & Smith, 1995). On the other hand, it is a better methodology for the small sample data and it automatically tackles the endogeneity between the variables (Mushtaq et al., 2020). To be able to apply the procedure, first we should be sure that the independent variable is integrated into order 1 and any of the variables are not integrated into order 2. In this context, the integration level of each variable is first determined by the unit root test. ...
The nexus between tourism sector performance and the quality of institution have been widely studied by several researchers. However, based on the knowledge of the authors of this study, no research has investigated the impact of institutional quality and trade openness as an economic institution on tourism development for most-visited developing countries. In this context, the target of this study was to empirically examine the link between the quality of the institutional structure and tourism sector development for 10 developing countries for the period 2001 to 2018. To achieve this objective, the panel data approach was preferred and adopted as it provides the advantage of including more observations. The results obtained indicate that an increment of 1% in trade volume and institutional quality increased tourism arrivals by 1.29% and 0.38%, respectively.
... The results reveal a positive and significant relationship between the TTDI and HDI based on their respective global scores, as has been shown in the literature review. According to Mushtaq et al. (2021), this is due to parallels with the perception of feeling safe and secure, with access to good healthcare, as well as the educational level-conditions that bode well for citizens' quality of life. The relationship is stronger in countries with a high level of progress because the greater gains from tourism feed into improvements in the country's situation. ...
Purpose
The purpose of this paper is to analyse whether tourism destination competitiveness is associated with human development using contingency tables. Also, by means of a cluster analysis, it seeks to identify homogeneous groups of tourists.
Design/methodology/approach
The analysis relies on the Travel and Tourism Development Index and Human Development Index for 2021 and is applied to 81 countries with a high/very high level of human progress and 36 countries with a medium/low level.
Findings
The results show that infrastructure is the tourism dimension that has the greatest influence on human development for all countries, while conditions for doing business and sustainability are relevant to residents’ quality of life only in destinations with a high/very high level of progress. Cluster analysis points to India as a tourist destination that is markedly different from the other countries in its human progress, presenting much higher values for price competitiveness, infrastructure and natural and cultural resources.
Originality/value
It analyses the association between each one of the dimensions of tourism development and the Human Development Index.
... also, eilat and einav (2004) found a positive effect of trade on international tourism for a group of developed and developing countries. Mushtaq et al. (2021) found that trading activities with other countries attract international tourists to india. surugiu et al. (2011) found that Romania attracts international tourist through international trade activities. ...
Studies have noted the potential benefits international tourism has to offer African economies. Consequently, research into the demand for international tourism especially for African countries has gained attention in recent years. What little is known about empirically is the effect that financial development, carbon dioxide emissions, trade openness and natural resources have on Africa’s tourism. In this study international tourism is modelled as a function of financial development, carbon dioxide emissions, trade openness and natural resources while controlling for urbanization, exchange rate, economic growth and global financial crises effect. Data from seven African countries is explored for the 1995–2021 period. Regression analysis shows that in the long run, international tourism demand is positively enhanced by exchange rate, financial development, natural resources and trade openness. However, carbon dioxide emissions and global financial crises reduce demand for international tourism in the selected countries. The findings imply among others that commitment from governments in Africa to devote financial resources to support the attainment of low carbon economy will promote international tourism. Also, building a strong financial sector is recommended. Proper management of the abundant natural resources should be intensified.
... Notably, recent years have seen a growing focus among tourism researchers on the correlation between corruption and tourism demand. Numerous scholarly articles have definitively established the relationship, identifying significant contributors to this association (Meo et al., 2021;Mushtaq et al., 2021). It is widely acknowledged that corruption poses a major obstacle to economic development (Ming & Liu, 2021;Osinubi et al., 2022). ...
The tourism industry significantly contributes to a country’s economic growth
and creates a positive image of the destination. This study assesses the impact of
corruption on international tourism demand. It employs two-dimensional analyses
using the gravity model and a pooled ordinary least square estimator to provide
a unique recognition of international tourism demand. The study utilized a conditional
quantile regression technique to analyze a dataset of 200 destination countries from
1995 to 2022. The empirical results demonstrate a mixed effect of corruption on
international tourism demand. The analysis reveals a non-linear relationship between
corruption and international tourism demand, with the inverted-U relationship being
statistically significant only at the 50th–75th quantiles and not holding at the upper and
lower quantiles. The research confirms that income has a positive impact on tourism
across quantiles, but the impact is disproportionate. The sub-period of 2006–2022
experienced a significant decline in gross domestic product (GDP) due to the global
financial crisis and its aftershocks, which severely impacted the attractiveness of
destination countries for tourists. These valuable insights can inform national tourism policies and businesses.
... Clearly, our results indicate that institutions in the SSA region are not providing additional positive benefits towards the terrorism-tourism relationship in the region. However, our finding is in agreement with the works of Mushtaq et al. (2021) and Kim et al. (2018), both of which demonstrated that the impact of institutions on international tourism flows can no longer be ignored. At the 5% level, our results in Table 6 also show that the effects of human capital development, physical capital stock and infrastructure on tourism in SSA are predominantly negligible. ...
This study examines how international tourism, foreign aid inflow, international trade and economic growth are responding to terrorism in Sub-Saharan Africa (SSA), and how institutions are moderating these interactions. To answer these questions, we examined a panel of 40 SSA countries for the period 2010–2020 based on the system generalised method of moments framework. Our results revealed that: (a) terrorism impacts adversely on tourism, foreign aid inflow, trade and overall economic growth in SSA; and (b) institutional quality has not been effective in mitigating the adverse effects of terrorism on tourism, foreign aid inflow, trade and economic growth in SSA. Policy implications are discussed.
JEL Codes: C33; F10; F35; F43; L83; N20
... The quality of regulation RQ positively affect tourism in India [14]. RQ has a positive impact in promoting the economic performance either in oil either in non-oil developing countries [15]. ...
This article investigates the determinants of Regulatory Quality-RQ for 193 countries in the period 2011-2020.The database used is the World Bank's Environmental, Social, and Governance-ESG dataset. The analysis was conducted through usage of Ordinary Least Squares OLS, Panel Data with Fixed Effects and Panel Data with Random Effects. Results show that the variables that have the most positive impact on RQ, among others, are "GHG Net Emission", "Mean Drought Index", and "Heat Index" while the variables that have the most negative impact on RQ are among others "Renewable Energy Consump-tion", "Voice and Accountability" and "Rule of Law". Furthermore, the k-Means algorithm optimized with the Elbow Method has been applied and five clusters were found. In adjunct, eight machine learning algorithms have been confronted to predict the value of RQ. Results show that the best predictor is Polynomial Regression. The predictive level of RQ for the analysed countries is expected to diminish of − 1.29%. In the end, a alysis with the Euclidean distance is discussed.
... Lastly, social infrastructure with political stability and control of political/economic corruption greatly a ffects tourism (e.g., Ghalia, Fidrmuc, Samargandi, & Sohag, 2019;Mushtaq, Thoker, & Bhat, 2021;Ranjbar et al., 2023). ...
Tourism has emerged as a major sector, and it is considered a significant contributor to the development of the host countries. Tourism development (TD) is believed, inter alia, to be a key promoter of export product diversification (EPD). This study explores the liaison between tourism development and export product diversification in China and across its regions (i.e., Eastern, Central, & Western) using the data for the period of 2011-2019. The Driscoll-Kraay standard errors (DKSEs) is adopted for empirical analysis along with feasible generalized least-squares (FGLS) and panel-corrected standard errors (PCSEs). The findings revealed an inverted U-shaped liaison between the TD and EPD. The estimates are robust and insensitive to econometric models, measures of tourism development, and the inclusion of other key covariates. The relationship between industrial structure, natural resource endowments, human capital, and economic growth is positive and statistically significant. The study revealed similar findings that were significant across regions. The policy insinuation is that the government should devise such policies to boost TD in order to promote EPD and sustainable development.
... Some researchers paid attention to S&S from the demand and supply-side view of point (Mawby et al., 2015(Mawby et al., , 2016Poku and Boakye, 2020;Wallace, 2020). The S&S perception literature focuses mainly on visitor perceptions of S&S, its impacts, and institutional regulation (George and Booyens, 2014;Mushtaq et al., 2020;Tatsiienko et al., 2021). Such studies concentrate on micro-attraction scales such as specific destinations (Coppola and Silvestri, 2020), and they are less focused on the macro scale such as country. ...
Safety and security (S&S) can contribute substantially to tourists’ perceptions and decision making regarding specific destinations. From this perspective, countries, such as Iran, suffer the consequences because they are formally introduced as unsafe and insecure destinations. The present study was an attempt to analyze the function of S&S in tourists’ perceptions before and after traveling to Iran. To this end, the data were collected by a self-administrated questionnaire, and then analyzed via the structural equation modeling. Contrary to the initial assumptions, the results revealed that S&S were not of utmost importance in comparison to other factors, because tourists’ perceptions of the destination image (DI) of Iran were realistic. Moreover, the results indicated that S&S were the reflections of intergovernmental political challenges, and beyond the conventional issues. The study findings were based on the perceptions of those who had already visited Iran, but the segments of tourists that had ignored Iran as a destination remained furtive. Accordingly, such countries like Iran could lose their share of the tourism market due to the restrictive microenvironment. As a result, destination development needs profound insights into tourists’ perceptions to avoid negative impacts and the role of scale in the analysis of DI should consider beyond the destination image. In order to compensate for the deficits, the lost opportunities and the required policy making and planning can be the subjects of further research.
... According to the most recent research on the subject, institutional structure plays a significant influence in enhancing tourism, while the health systems of host nations play a moderating function in this relationship. For example, Mushtaq et al. (2020) found a positive correlation between institutional quality and tourism in India. Restrepo et al. (2021) revealed that the governance structure of the destination nation significantly affects tourism. ...
Tourism has gradually emerged to become a significant factor for sustainable economic growth around the globe. Along with other variables, the institutional environment has a significant influence on the growth of the tourism industry. Consequently, there are two primary goals for this study: firstly, to improve the body of knowledge already available on the institution-tourism nexus; secondly, to investigate how the health systems of the host countries contribute to the said nexus. To analyze these relations, we collected data from 50 countries across 10 years (2009–2018). We apply multiple regression analysis to a balanced panel dataset of 500 observations. Furthermore, we also used an interactive variable in conjunction with the primary independent, dependent, and control variables of the study to determine the moderating effect of the host countries’ health systems. The study’s findings demonstrated the significance of an efficient institutional structure in boosting tourism. Additionally, the health systems of the host nations play a significant role in strengthening the connection between institutions and tourism, especially in the post-COVID-19 period. Through the creation of institutional frameworks and health infrastructure, the study’s findings will assist policymakers in developing efficient tourism policies. All of the above strategies will eventually lead to a trustworthy, safe, and healthy environment for both locals and visitors.
... Governance/institutional quality indicates the institutions' values that administrate government property rights, constitution, laws, and traditions crucial for the personal association among the stakeholders [18]. Previous scholars have claimed that good governance can play a significant role in sustainability in natural-resource-abundant economies [19]. ...
The strategic objective of this study was to determine the influence of urbanization on inclusive green growth (IGG) with the moderating impact of governance while considering household consumption, exchange rate, per capita income, and the unemployment rate as control variables. The data set consisted of the years 2004-2019 for 64 countries along the Belt and Road (BRI) region. The outcomes of the two-step system of generalized method of moments (GMM) robust with D-K regression methodology confirmed the significantly positive dynamic nature of inclusive green growth. Urbanization showed a significant but negative influence on inclusive green growth, indicating environmental degradation due to unplanned urban growth. The moderating role of govern-ance also depicted a significant negative impact, emphasizing the need for a transparent governance framework for BRI countries to utilize resources effectively. Moreover, the interaction term of urbanization and governance showed a significantly positive improvement toward inclusive green growth. Besides this, per capita income played a significantly positive role, while unemployment and household consumption had a negative but significant influence on inclusive green growth. Further, the exchange rate impacted insignificantly on inclusive green growth. Hence, it is evident that urbanization, good governance, and employment opportunities are required to promote sustainable green growth in BRI countries. The research identifies the factors that are required for sus-tainability/IGG.
... Variables Author(s) Cross correlation Income, unemployment, forward exchange rate, money supply, price ratio, industrial production, imports and exports Turner et al. (1997) Adjusted ARIMA Economic variables Cho ( Distributed Lag Models, Onder et al. (2020) found that Facebook likes can be a leading indicator of tourism demand of Graz, Innsbruck, Salzburg, and Vienna. Mushtaq et al. (2020) found evidence for a link between institutional quality and international tourism demand of India when they employed a panel autoregressive distributed lag model with data from top 30 tourist originating countries for India. Logistic regression was used by Ridderstaat (2021) to show that Net Financial Wealth is a determinant of tourism demand cycles. ...
The United Kingdom (UK) is a world-renowned fashion hub where the economic importance of the tourism sector was recording continuous growth prior to the pandemic. Interestingly, tourism shopping is widely experienced yet seldom discussed from a tourism demand forecasting context. Driven by the potential relevance of tourism shopping and hoping to motivate increased collaboration between the tourism and fashion industries, we analyse whether fashion retail sales can be a leading indicator for inbound tourism demand in the UK. Using the Multi-variate Singular Spectrum Analysis leading indicator algorithm, we forecast UK tourism demand and compare the results with six benchmark forecasting models. We find statistically significant evidence for the existence of cross-sector relations between the UK's fashion and tourism industries.
... A number of recent studies have looked at the relationship between institutional quality and tourism [18,19]. Political stability is required for tourism development, according to the majority of studies [20][21][22]. Higher levels of corruption have a negative influence on a country's tourism competitiveness, according to Alola [23] and Haseeb & Azam [24]. ...
This study investigates the nonlinear effects of oil prices, the exchange rate, and institutional quality on tourist arrivals in Bangladesh. The Nonlinear Autoregressive Distributed Lag (NARDL) approach, which was petitioned for time series data from 1995 to 2019, was used in this study. Crude oil prices and exchange rates have a long-and short-run negative and significant impact on tourism demand, according to the findings, whereas increases in institutional quality are favourably associated with tourist arrivals in Bangladesh. According to the Wald test, there are asymmetries among variables. Negative oil price shocks, positive exchange rate shocks, and poor institutional quality were the factors that had the greatest impact on tourist arrivals, according to all of the dynamic multipliers' estimates. For Bangladeshi politicians and investors, the implications of this study are critical.
... Institutional quality and political stability influence tourism demand. According to the bulk of studies, political stability is necessary for tourism development (Farmaki et al., 2015;Khan et al., 2020;Lee et al., 2020;Mushtaq et al., 2020). According to Haseeb and Azam (2021), a higher level of corruption has a detrimental influence on tourism competitiveness among nations. ...
The nonlinear interaction of oil prices, inflation, the exchange rate, institutional quality, and trade balance on tourist arrivals in Bangladesh is scrutinized in this study. The technique utilized in this study, Nonlinear Autoregressive Distributed Lag (NARDL), is a novel co-integrating strategy. The yearly time series data used in this study spanned 1995 to 2019. The NARDL bound test is performed to assess if variables like oil prices, inflation, the exchange rate, institutional quality, and trade balance on tourist arrivals are co-integrated. Oil prices and exchange rates, according to the findings, have a long-run negative and significant impact on tourism demand, whereas improvements in institutional quality are positively associated with tourist arrivals. Moreover, the study’s findings revealed a nonlinear kinship between the trade balance, inflation, and tourism demand across time. The asymmetric results obtained could enable Bangladeshi policymakers to make more precise decisions.
... Among the individual segments of institutional quality, the rule of law, administrative quality, control of defilement and voice, and responsibility are found to advance the tourism area improvement in the economy. Conflictingly, the effect of government adequacy has been discovered to be negative (Mushtaq et al., 2021). ...
The purpose of this study is to explore the long-run and causality
relationship between tourism development and the real income
level in an environmental Kuznets Curve (EKC) framework for
emerging industrialised economies (E7). The newness of our study
to the tourism literature is the inclusion of institutional quality and
tradeto the mix. The inclusion of the additional variables in the
econometrics setting is worthwhile to circumvent omitted variable
bias. Second-generation panel estimation techniques, in
conjunction with the Driscoll-Kraay robust estimator, have been
employed to accommodate cross-sectional dependency in the
panel under review, as well as for robustness of coefficients and
estimates. The Empirical results affirm the presence of the EKC
phenomenon and tourism-induced emission in E7 economies,
thereby suggesting that sustainable tourism has a deteriorating
impact on economic growth in the examined industrialised
countries. Similarly, real GDP per capita and non-renewable energy
also dampen the quality of the environment, as indicated by the
robust regression of AMG and CCEMG. Hence, an increase in non�renewable energy and tourism demand increases CO2emission in
E7 economies. Additionally, we observe that the quality of
institution improves the quality of the environment, thus,
indicating that the role of good governance (institutional quality)
improves the quality of the environment in E7. Furthermore, there
is a need for a paradigm shift to sustainable tourism development
alongside the adoption of the polluters pay principles to mitigate
the adverse implications of the consumption of non-renewable
energy. More insights are presented in the concluding section.
China has incorporated the principle of inclusive green growth from the initiation of the Belt and Road Initiative (BRI) in 2013. Inclusive green growth is a balanced pathway that benefits economy, society, and the environment. Recognizing the trade-offs between economy and environment, it becomes imperative to analyze the influence of BRI (China-integrated pre-post Belt and Road Initiative spillover) on fostering inclusive green growth. This research is investigating the moderating impact of BRI in enhancing the effects of tourism and Fintech on inclusive green growth (comprising social, economic, technological, and environmental dimensions). This research is utilizing panel econometrics data of 148 BRI countries from 2004 to 2021 (9 years before and after BRI initiation) by employing two-step system generalized method of moments (GMM) approach, further endorsed by two-stage least square (2-SLS) technique. Outcomes reveal that the BRI region is on the path of inclusive green growth and BRI positively moderates the influence of tourism and Fintech on inclusive green growth. Control factors, such as institutional quality, KOF globalization index, and renewable energy to total energy ratio promote inclusive green growth, while urbanization, household consumption per capita, and socioeconomic conditions hinder the progress. The implications of this research are significant as it emphasis on the role of BRI in supporting tourism activities and exploring contemporary financial technologies. This study highlights that inclusive green growth and sustainable development goals (SDGs) share common objectives, so inclusive green growth would contribute to the accomplishment of SDGs. The proposed policy recommendations would serve as a valuable tool for specific stakeholders, tourism planners, institutions, legislators, urban planners, and environment ministries to achieve SDGs of 2030 (12. b, 8.8, and 14.7 are related to tourism, 17.1–17.8 are devoted to finance and technology, 16.8 is about institutional quality, 7.2 and 7.8 supports renewable energy usage, 11.3 is regarding urbanization, goal 1, 8.5, 15.9 and 17.15 are about socioeconomic conditions).
Graphical abstract
COVID-19 provided both a challenge and an opportunity for tourism enterprises to improve the quality of service delivery and customer satisfaction. It has been difficult for tourism enterprises to build quality in the company to satisfy tourists and maintain a sustainable competitive advantage. This study aimed to explore service quality attributes that will improve service delivery and enhance customer satisfaction, positively influencing sustainable competitive advantage. The study employs a qualitative research method, utilising secondary data documents from Google Scholar and the company's Annual Integrated Reports. The inclusion and exclusion of documents were based on thematic relevance. The study’s findings revealed that quality dimensions in tourism are evolving and are not uniform across researchers and practitioners. The study found that quality is an antecedent of customer satisfaction. The study also found that tourist satisfaction is important to ensure a sustainable competitive advantage. The study implications are that management should understand what constitutes quality service and products, monitor the dimensions’ implementation, satisfy tourists continuously, and maintain Sustainable Competitive Advantage (SCA).
This study focuses on the context of diversified challenges Turkey’s tourism industry faces. This study aims to test the validity of the convergence hypothesis from the perspective of destination flexibility by separating the pre-pandemic and post-pandemic periods in Turkey’s 15 top tourist-producing countries. The data collected from the period 2001:1 to 2019:12 for pre-pandemic period and 2022:1 to 2023:8 for the post-pandemic period are tested by performing Hepsag’s stationarity test state that the convergence hypothesis is valid in 14 of the 15 major tourism markets for the pre-pandemic period (the Russian Federation, Germany, Bulgaria, England, Iran,
Iraq, Georgia, Ukraine, Azerbaijan, Poland, France, Greece, Romania, Israel and Saudi Arabia). However, for the post-pandemic period, it was determined that the convergence hypothesis was valid only for Iraq, Poland, the Russian Federation and Ukraine. Examining the convergence features of tourism markets provides valuable information for decision-makers of Turkey’s tourism policies for economic balance in the growing cities.
This study investigated how infrastructural development is responding to international tourism and institutional quality in Africa using the system GMM technique and a panel of 31 African economies from 2011 to 2020. Existing studies have generally ignored these relationships. We find that international tourism is an essential driver of infrastructural development in Africa. We also find that the quality of governance institutions significantly promotes infrastructural development in Africa when measured using government effectiveness, rule of law, and regulatory quality, but remain muted when measured using control of corruption, voice and accountability, and political stability. We highlighted the implications of these findings in terms of diversifying the economies of Africa through investments in tourism and reforming the governance institutions in the region to combat corruption, entrench transparent and accountable governance, and promote political stability. Interestingly, our findings further indicate that human capital development, GDP per capita, and remittances are important drivers of infrastructural development in Africa, while the role of foreign direct investment remained significantly negative. We provided policy recommendations based on these findings.
This work aims to propose a method for synthetically evaluating and analyzing the tourism performance in Morocco with regard to a benchmark and in line with the data to be processed. To achieve the above objective, the Adjusted Slack-Based Data Envelopment Analysis Method is used to elaborate a composite index for synthetically evaluating the tourism performance and to analyze this performance. The findings show that composite indexes from 2015 to 2019 in Morocco are mediocre or average compared to the Organisation for Economic Co-operation and Development (OECD) mean in terms of tourism performance. Furthermore, the analysis of the results reveals that the performance gap between Morocco and the mean of the OECD countries comes mainly from tourist receipts and the number of overnight stays. The originality of this work resides in the method elaborated for assessing and analyzing adequately the tourism performance, which is necessary for an appropriate tourism change. It also lies in using optimal weightings of the elementary indicators to elaborate an appropriate composite index, which is not widely employed in the area of assessing tourism performance.
This study examined the role of good governance in promoting tourism in emerging South Asian countries and also tested the mediating role of foreign direct investments. The study used panel data collected from seven South Asian countries from 1996 to 2018. Panel data regression models were estimated to test the research hypotheses. The results showed that country's good governance has a positive and significant influence on tourism receipts and arrivals. Moreover, the mediation analysis results supported that foreign direct investments mediated the relationship between good governance indicators like government effectiveness, political stability, voice and accountability and control over corruption and tourism. Based on the results, the study proposed the Governance-led-FDI and FDI-led-Tourism hypotheses, the study's main contribution. The study has implications for the government regulatory agencies relating to governance, tourism departments, foreign prospect investors and policymakers.
Orientation: The South African Tourism Act of 2014 on improving the level of tourist attraction for sustainable development in South Africa has been promulgated to ensure quality tourism products and improve the growth and development of the tourism sector and ensure sustainable revenue generation.
Research purpose: This article investigates the dynamic impact of institutional quality, foreign direct investment and international trade on tourism inflows in South Africa from 1996 to 2019.
Motivation for the study: The study examines the impact of institutional quality, foreign direct investment and international trade on tourism inflow in South Africa. Investigations on the relationship between institutional quality and tourism are limited and filled with disparities. The study also adopted different measures to view institutional quality. South Africa is to benefit from this empirical investigation.
Research design, approach and method: World Bank Indicators were used as the main data source. Variables used for the analysis of the multivariate framework include international tourism receipts as a percentage of total exports, foreign direct investment, as a percentage of GDP, net inflow of investment, international trade, a combination of imports and exports gross domestic product, and political stability.
Main findings: The bound testing approach found cointegration among these variables. This study found a positive relationship between tourism inflow and international trade and between tourism inflows and regulatory quality, both in the short- and long-term. Unidirectional causality running from regulatory quality to tourism inflow in South Africa was also established.
Practical/managerial implications: Government should ensure good institutional qualities that will attract tourism to enhance international trade and economic growth in the long term.
Contribution/value-add: The result indicated that good regulatory quality improves attracting of tourists in South Africa. The volume of tourism inflows will assist in economic growth and increase foreign direct investments and other forms of international trade.
The present study aims to investigate the effect of the quality of institutions on tourism development in a panel of 27 countries from the European Union for the period of 2008-2021. The number of arrivals and employees in tourism measures tourism development. The control variables used, which also represent the determinants of tourism, are GDP growth rate per capita, inflation, higher education, quality of the environment, and trade. Quality of institutions indexes are constructed based on indicators of government effectiveness, political stability, regulatory quality, the rule of law, and voice and accountability. To estimate the impact of selected determinants in tourism development, we used the Generalized method of the moments-GMM model. According to the obtained results, it can be concluded that there is a positive connection between the quality of institutions and tourism. The results of this research should provide insight into the most important determinants of management and institutions and explain their influence on events in tourism. All of the above knowledge should be of interest to the management bodies in charge of creating national development strategies. The contribution of this research is reflected in the clarification of the importance of institutions' quality and monitoring. Previous research on this topic is generally limited to specific tourist regions or is based on smaller indicators. This paper covers the area of the European Union, with different stages of development and share in tourist traffic.
Purpose
The purpose of this paper is to examine the impact of various cultural amenities on tourism demand in 168 European cities.
Design/methodology/approach
Using data from the European Commission’s Culture and Creative Cities Monitor 2017, a series of regressions are estimated to examine the impact of various cultural amenities on tourism demand while also controlling for other factors that may impact on tourism demand. Diagnostic tests are also conducted to check the robustness of the results.
Findings
The results reveal that cultural amenities in the form of sights, landmarks, museums, concerts and shows have a positive impact on tourism demand. By pinpointing the cultural amenities that are important for increasing tourism demand, the findings aid stakeholders in the tourism industry as they develop post-pandemic recovery plans.
Originality/value
This paper identifies two key aspects of the cultural tourism literature that require deeper investigation and aims to address these aspects. Firstly, while many studies focus on a specific or narrow range of cultural amenities, this study includes a series of measures to capture a range of cultural amenities. Secondly, while many studies are narrow in geographical scope, this paper includes data on 168 European cities across 30 countries.
The objective of this article is to design a game theory-based model to outline the role of the government, firm and civil society for environmental sustainability. The study used the dynamic game theory of complete information. Based upon the equilibrium analysis, the study highlights that when the punishment for non-compliance with environmental responsibility is smaller, the role of civil society would be higher for environmental sustainability. On the other hand, when the environmental responsibility cost is higher, then the role of a government is also higher for the implementation of environmental responsibility and to ensure the punishment. However, the authors found from model analysis that if the cost is low, the probability of firm to fulfill environmental responsibility is higher. In real life, the high cost of environmental responsibility is the main reason that the firm does not fulfill environmental responsibility. Under the high cost, the firm often has the phenomenon of bribery to the government and other means to avoid environmental responsibility. This article is a valuable policy guide for policy makers to cope with global environmental challenges.
The purpose of this study was to analyze the relationship between international trade and international tourism demand in Thailand. Using a dataset of 207 trade partnership countries of Thailand, it was found that the degree of trade openness was positively correlated with international tourism demand. A percentage increase in trade share to GDP contributed about 0.046 percent of short-term foreign tourism demand and 0.807 percent of long-term tourism demand in Thailand. The import volume from origin countries' tourists to Thailand also increased the short-term tourism demand by 0.029 percent and the long-term tourism demand by 0.592 percent in Thailand. These results can be supportive of government strategies that aim to enhance the country's trade volume as well as stimulate Thailand's international tourism demand.
Purpose
The purpose of this paper is to review recent studies published from 2007 to 2015 on tourism and hotel demand modeling and forecasting with a view to identifying the emerging topics and methods studied and to pointing future research directions in the field.
Design/methodology/approach
Articles on tourism and hotel demand modeling and forecasting published mostly in both science citation index and social sciences citation index journals were identified and analyzed.
Findings
This review finds that the studies focused on hotel demand are relatively less than those on tourism demand. It is also observed that more and more studies have moved away from the aggregate tourism demand analysis, whereas disaggregate markets and niche products have attracted increasing attention. Some studies have gone beyond neoclassical economic theory to seek additional explanations of the dynamics of tourism and hotel demand, such as environmental factors, tourist online behavior and consumer confidence indicators, among others. More sophisticated techniques such as nonlinear smooth transition regression, mixed-frequency modeling technique and nonparametric singular spectrum analysis have also been introduced to this research area.
Research limitations/implications
The main limitation of this review is that the articles included in this study only cover the English literature. Future review of this kind should also include articles published in other languages. The review provides a useful guide for researchers who are interested in future research on tourism and hotel demand modeling and forecasting.
Practical implications
This review provides important suggestions and recommendations for improving the efficiency of tourism and hospitality management practices.
Originality/value
The value of this review is that it identifies the current trends in tourism and hotel demand modeling and forecasting research and points out future research directions.
In this paper we aim to empirically identify the determinants of tourist destinantion by domestic tourists that leads to growth of tourism in Indiagers in India . Our sample, broadly. from the south revealed that climate and destination management inclusive of destination marketing and image had influenced the choice of consumers. The findings are significant in policy implications, particularly for the tour managers as well as advertising agennts and to a certain extent in government policies. In particular, we urge the Ministry of tourism to price tourism pacakges based on affordability of the consumers through discounts and promotional offers.
Many developing countries have prepared plans particularly at the central level to guide tourism development, as they have recognized the tourism sector as an important source of foreign currency earning and employment. In this context, mainly aims at analyzing the shortcomings of the planning approaches to tourism development in developing countries by exemplifying the points made with special references to Turkey. There appears to be several defects in the planning approaches to tourism development. Concludes that there is the need for political stability, establishing supportive institutions and decentralization to develop and implement an appropriate contemporary tourism planning approach by taking into account destination specific conditions, and collaboration and cooperation of western governments and international agencies.
Africa's tourism potential is acknowledged to be significant but underdeveloped. This paper uses both cross-section data and panel data for the period 1996-2000 to identify the determinants of tourism arrivals in 43 African countries, taking into account tourists' country of origin. The results strongly suggest that political stability, tourism infrastructure, marketing and information, and the level of development at the destination are key determinants of travel to Africa. Typical 'developed country determinants' of tourism demand, such as the level of income in the origin country, the relative prices and the cost of travel, are not so significant in explaining the demand for Africa as a tourism destination. It is therefore recommended that attention should be given to improving the overall stability of the continent and the availability and quantity of tourism infrastructure.
Tourism can be a key factor in overcoming the many socio-economic challenges facing South Africa if the reality and perception of tourist safety is addressed urgently and adequately. The research for this paper focuses on tourism in South Africa and analyses the poor perception of personal safety of international tourists (1997–1998), the important role that tourism play in the economy and development, the influence of crime on the tourist destination image and the tourist flows as well as the general crime pattern for 1997 as perceived risk indicator for tourists visiting South Africa.
The paper describes the results of a detailed study to analyze the impact made by 1991 tourism expenditure on incomes, employment, public sector revenue and the balance of payments in the Seychelles. Details of the methodology and data sources are provided and the results and policy implications are analyzed. These tourism impacts, found to vary by visitors' countries of origin, provide useful policy and marketing implications, although this variation was found to be related almost entirely to the different magnitudes of expenditure than to variations in the size of the multiplier by country of residence.RésuméL'impact économique du tourisme aux Seychelles. Cet article décrit les résultats d'une étude sur l'impact des dépenses touristiques sur les salaires, l'emploi, le revenu du secteur publique et la balance des paiements aux Seychelles en 1991. L'auteur explique la méthodologie utilisée dans la recherche, révèle ses sources d'informations et analyse en profondeur les résultats obtenus ainsi que leurs implications politiques. Il est apparent que les impacts des visiteurs sont différents par pays d'origine, ce qui a des implications politiques et commerciales intéressantes. Toutefois, ces variations sont presque entièrement dues à la différence dans le chiffre de leurs dépenses plutôt qu'à la différence dans la valeur des multiplicateurs dans chaque pays de résidence.
The Okavango Delta is one of Botswana's leading tourist destination areas, mainly because of the rich wildlife resources it sustains and its scenic beauty. Tourism has stimulated the development of a variety of allied infrastructure and facilities, such as hotels, lodges and camps, airport and airstrips, in the Okavango region. Through its backward linkages, wholesale and retail businesses have also been established, especially in Maun, to offer various goods to the tourist industry. Tarred roads and other communication facilities have also been developed in Ngamiland District partly to facilitate tourism development. Tourism in the Okavango Delta also provides employment opportunities to local communities and it is a significant source of foreign exchange for Botswana. Despite its positive socio-economic impacts, the industry is beginning to have negative environmental impacts in the area such as the destruction of the area's ecology through driving outside the prescribed trails, noise pollution and poor waste management. This, therefore, suggests that tourism in the Okavango Delta has socio-economic and environmental impacts, issues which are addressed by this paper based on the concept of sustainability.
Problem statement: Given the high contribution of tourism industry in the Malaysian economy, Malaysia has a vast view to increase its market share of the international tourist arrivals in the Asia Pacific region. Therefore, this study attempts to investigate the long run and short run demand for tourism from top ten markets (country). Approach: To accomplish this objective the ARDL bound test approach to cointegration was carried out for quarterly time series data from 1998:Q1 to 2007: Q3. A three-stage procedure followed to test the direction of causality. In the first stage the order of integration was tested using the Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) unit root tests. The second stage involved testing for the existence of a long-run equilibrium relationship between arrivals, income, tourism price, tourism substitute price and travel cost. The third stage involved constructing standard Granger-type causality tests augmented with a lagged error-correction term where the series were cointegrated. Results: The result of ADF and PP unit root tests confirmed that all variables were stationary at first difference. In addition the results indicated that a long run relationship and between variables. Conclusion: The results indicated that tourists from these ten countries seem to be highly sensitive to the price and the alternative destinations are complementary to Malaysia. In addition the results showed that the outbreak of Severe Acute Respiratory Syndrome (SARS, 2003) had a negative affects significantly affected Malaysia�s tourism demand.
No effort has been made to connect good governance and the performance of the tourism industry at the country level. We take a first step to provide empirical evidence of this positive effect. Based on a data set of 100 countries between 2002 and 2012, the impact of the Worldwide Governance Indicators (WGI) on the tourism industry is analyzed, controlling also for demographic, economic and environmental factors. Using a dynamic panel data approach, we highlight the role played by good governance in explaining differences in countries’ tourism performances, measured here as inbound tourism expenditures per inhabitant. We also observe that the impact of WGI is even higher among low-openness countries.
This study investigates the impact of corruption in public sector on carbon emissions in presence of energy use segregation, following the Environmental Kuznets Curve (EKC) framework. The study has been carried out for Brazil-Russia-India-China-South Africa (BRICS) and Next 11 countries over the period of 1990–2017. Along with the finding of inverted N-shaped EKC for both the cases, we find that incidents of corruption enhance environmental degradation by reducing the positive impact of renewable energy consumption on environmental quality, and increasing the negative impact of fossil fuel consumption. This study has also divulged that the corruptive practices are more prone in case of the countries, where the development is mature and institutionalization is more stringent. Based on these findings, we suggest that environmental policies should take account of the corruption, and thereby, making the policies more robust and effective.
Purpose:
The purpose of this study is to investigate the relationship between CO2 emission and its core determinants, namely, economic growth, energy consumption and trade openness in the pre- and post-Kyoto Protocol era in the Indian economy.
Design/methodology/approach:
The study uses the ARDL bounds test to analyze the long-run and short-run empirical relationship between the interested variables for the time period 1971-2013. A dummy variable representing the Kyoto Protocol regime has been included to examine the likely impact of international climate policies (Kyoto Protocol) in controlling and reducing CO2 emission in India.
Findings:
The empirical results indicate the possibility of increase in CO2 emission from India even after the Kyoto Protocol regime. Evidence of inverted U-shaped relationship between CO2 emission and economic growth (EKC hypothesis) has been confirmed. However, compared to increase in CO2 emission, the magnitude of decrease due to improvement in economic growth is relatively lesser. Energy consumption and trade openness are also found to increase CO2 emission.
Research limitations/implications:
The results indicate that there is a lack of commitment on the part of India to curtail CO2 emission, which can be disastrous for future prosperity. Financing the renewable electricity generation, R&D subsidy and tax-free renewable energy seems to be imperative to address this catastrophic problem.
Originality/value:
This study is the first attempt to analyze the impact of international climate policy (Kyoto Protocol) on CO2 emission by incorporating a fixed dummy in the ARDL specifications.
This paper explores the effects of the overall quality of national governance institutions of a country, along with the quality of some of its key characteristics on international tourism inflows and the revenues a country derives from them. This paper argues that increases in institutional quality reduce transaction costs and risks faced by both suppliers of international tourist services and tourists. We hypothesize that countries with 'higher quality' of governance institutions are likely to attract more international tourists and derive more revenues from them. Our hypothesis is tested using panel data drawn from 108 countries between 1996 to 2011. The results strongly support the hypothesis. This paper found that regulatory quality and the rule of law are the governance characteristics that have the most impact on international tourism flows. Improvement of institutional quality has more impact on tourism in high income countries than in emerging economies. The results are robust to different estimation methods, different measures of international tourism and institutional quality.
Purpose
The present study empirically examines the determinants of foreign and domestic tourist arrivals and revenue receipts from tourism using state-level panel data in 25 Indian states for the period 1995 to 2011.
Design/methodology/approach
The study employs IV-2SLS method to examine the determinants of foreign and domestic tourist arrivals in Indian states. Economic development (proxied by Per Capita Income, PCI) is an endogenous variable. We have used the state-wise ‘liable to flood prone area’ as an instrument for PCI to control for endogeneity. An inverse relationship exists between state-wise ‘liable to flood prone area’ and real PCI in a sense that states with greater proportion of area marked as liable to flood, experience lower economic development. For robust analysis, the study has also employed IV-Tobit model in order to examine the effects of economic development and crime on revenue receipts from tourism.
Findings
The empirical results based on IV-2SLS method suggest that in addition to economic development, other factors such as the presence of world class monuments, natural landscapes and cultural heritage also encourage both international and domestic visitors in Indian states. While crime activities adversely affect the inflow of foreign and domestic tourist arrivals, terror activities do not significantly impact tourist arrivals and tourism receipts. Finally, the estimates of IV-Tobit model show that economic development and government expenditure on tourism sector leads to a significant increase in tourism receipts.
Originality/value
To the best of our knowledge, this is the first study done in Indian context in which state-level panel data has been used to examine the impact of economic, social and cultural factors on tourist arrivals and revenue earnings from tourism. Hence, the present study not only contributes to existing tourism literature but also makes an important contribution to structuring suitable tourism management policies for the Indian states.
This paper considers three econometric models to determine the relationship between macroeconomic variables and tourism demand. Tourism demand is measured by the inbound visitor's population and also by on-the-ground expenditures. The database is an unbalanced panel of 218 countries over the period 1995–2012. There is evidence that an increase in the World's GDP per capita, a depreciation of the national currency, and a decline of relative domestic prices do help boost tourism demand. The World's GDP per capita is more important when explaining arrivals, but relative prices become more important when we use expenditures as the proxy for tourism demand. We cannot reject the hypothesis of a relative prices unitary elasticity of expenditures. Additionally, we have partitioned our data by income level and by Continent. Results are robust in the first partition, but less robust in the second, although the main conclusions still hold. Finally, we draw policy implications from our findings.
In the present study, we analyze the relationship between tourism and human development for a selection of 63 countries from 1996 to 2008. Findings confirm that, on average, tourism is positively associated with human development. By decomposing the effect of tourism on each human development indicator, we find that literacy rate appears to be the most affected. This result suggests that the impact of tourism in the host country is much broader with respect to the purely economic effect. Furthermore, it suggests the need of further investigating the relationship between human development and tourism. Copyright
The purpose of this study is to advance the tourism demand theory by excluding simultaneous effects of exchange rates and prices in empirical models, formulating an alternative pricing modus operandi consistent with recent research in the area, and demonstrating the efficacy of the use of an industrial production index (IPI) as a proxy for income. A panel fully modified ordinary least squares (FMOLS) method is employed to estimate the inbound tourism demand for Turkey. Study findings suggest that the inclusion of exchange rates and prices, as mutually exclusive components, can be misleading; the IPI is not a good proxy for income; and country-specific coefficients need to be analyzed to accurately explain determinants of tourism demand for countries in the panel.
This study examines the relationship between corruption and tourism. We estimate a country's demand for tourism, in terms of international tourism arrivals, as a function of its GNI, consumer price index, and corruption. Our estimations show that the demand for tourism is negatively related to corruption and consumer price index and positively related to GNI. These results affirm the standard theory on the relationship between income, price, and demand. Most importantly, the results demonstrate clearly the significance of the negative influence of corruption on tourism. An important policy implication of this finding is that countries seeking to maximize tourism benefit do well by eradicating corruption. Thus anti-corruption policies are very important in deriving benefits from growth in tourism.
The empirical relationship between trade and tourism has been explored during recent years finding that international tourism promotes international trade between countries. However, the impact of tourism on trade flows has been neglected within standard international trade models such as the gravity equation. The main aim of this paper is to provide empirical and theoretical evidence that tourism matters for international trade. To that end, the framework proposed by Helpman, Melitz and Rubinstein (2008) is used by recognising that tourism flows could reduce fixed and variable costs of exporting. Moreover, once the model is estimated, the empirical evidence suggests that tourism increases both the probability of two countries trading with each other and the volume of international trade between them.
While the Philippines aspires to be one of the top tourist destinations in Southeast Asia, self-inflicted wounds like the failure of the government to comply with international aviation safety standards may derail the country from achieving its goals. This article estimates the short- and long-term impact of the US FAA downgrade of the Philippine civil aviation system in 2008 and the EU ban of Philippine carriers in 2010 on tourist expenditures, arrivals, and length of stay using monthly time series data. The econometric model, consisting of three equations due to the endogeneity of the tourist arrivals and length of stay variables in the tourist expenditures equation, is estimated simultaneously using the generalized method of moments. The results indicate that the US FAA downgrade and the EU ban impact monthly tourist receipts negatively in the short term while the downgrade also impacts tourist expenditures in the long term. Moreover, the ban impacts length of stay negatively in the short and long term while the downgrade impacts length of stay negatively only in the long term. The substantial decline in tourism receipts from 2008 to 2010 despite an increasing trend in tourist arrivals is due to the shorter stay of tourists, indicating that high-spending tourists have not returned following the downgrade and ban.
This study empirically tests the hypothesis that corruption has a negative effect on tourism. Having to pay bribes while on holiday or a business trip increases the costs of travelling to a country where corruption is prevalent. Tourists are thus more likely to travel to countries where these additional costs do not need to be incurred. This hypothesis is tested using a panel data set of over 100 countries and 16 years. The results indicate that a 1-point increase in the Corruption Perception Index (implying a decrease in corruption) results in a 2% to 7% increase in tourist inflows. In addition, tourist inflows rise with GDP per capita, openness and growth and are higher in countries with a temperate climate.
This article evaluates the effects of political instability, terrorism, and corruption on tourism development, particularly UNESCO-listed heritage destinations. Using a fixed-effects panel data analysis for 139 countries over the period 1999–2009, the result reveals that a one-unit
increase in political instability decreases tourist arrivals and tourism revenue between 24% and 31% and 30% and 36%, respectively. Furthermore, in the presence of heritage, terrorism has negative effects on tourism demand even though its effect is lower than that of political instability.
However, the study shows that an increase in corruption index would not have an adverse influence on tourist arrival numbers, particularly for those countries that have historical and natural heritage. Perhaps, many experienced travelers have expectations that they would require paying bribes
to corrupt authorities for travel visa or permits to some tourist destinations in order to make things accessible. Moderation effect results indicate that political instability reduces tourism demand even in UNESCO-listed heritage destinations.
This article investigates the effect of corruption on tourism demand for a panel of countries during 1999–2009 by using panel least square and fixed effects regressions. Prior research has considered only the linear effects of corruption on tourism. We examine the relationship between corruption and tourism in a non-linear framework after controlling for economic and heritage factors. The findings suggest that corruption has a significant effect on tourism demand and that this effect is non-linear. Copyright © 2014 John Wiley & Sons, Ltd.
The impact of international tourism on a country’s economic growth
has attracted a great deal of attention among economists and policy makers.
This study probes tourism-led growth (TLG) hypothesis for India employing bounds test and Johansen approaches of cointegration using annual data for the time span from 1980 to 2006 in a multivariate framework. Empirical results reveal the absence of a long-term equilibrium relationship between international tourist arrivals and economic activity in India. It also fails to establish any short-run relationship between international tourist arrivals and economic growth in an unrestricted vector autoregression framework. Thus,
this study rejects TLG hypothesis for India
Although formal institutions and entrepreneurial orientation have both been found to contribute separately and positively to firm performance, the interplay between the two factors has not received much attention. This study draws from institutional theory and the entrepreneurship literature to argue that entrepreneurial orientation (EO) provides the mechanism through which the formal institutional environment influences the performance of firms in the tourism sector. Using structural equation modelling and data from a large-scale survey of firms in the tourism sector in the Philippines, it is shown that elements of the institutional environment, by themselves, only have limited influence on tourism firms' performance. EO is shown to partially enhance the effects of the institutional environment on firm performance. The strong mediating effect of entrepreneurial orientation on the relationship between the institutional environment and firm performance is a novel finding and highlights the important role of the government in ensuring that the formal institutional environment promotes entrepreneurship which, in turn, enhances the performance of the tourism sector.
The police in developed countries face relatively few incidents of organized public defiance, and therefore the exercise of police discretion in handling major law and order problems has not been a focus of study. In contrast, the multicultural and multiethnic society in India, struggling to form a modern nation through a competitive democratic framework, presents situations virtually every day in which the police have to use discretionary judgments in maintaining order within a legal framework. This paper examines the scope of discretion provided by Indian law and its utilization by the police in dealing with several kinds of such problems. In particular, it examines the application of discretion in handling communal clashes between different religious groups, in dealing with political agitations and demonstrations, and in controlling crowds during visits by political leaders. Several tactics utilized by police administrators in dealing with large masses of people in these situations are described as well as the problems that arise from their discretionary judgments. New information is provided about police practices in order maintenance functions, and other areas of research are suggested,
The study was conducted with the purpose of determining pre- and post-trip perceptions of foreign tourists about India as a tourist destination. The sample numbered 152. A gap analysis between expectations and satisfaction levels was used to identify strengths and weaknesses of India's tourism-related image dimensions so that necessary efforts can be made to ensure that tourists’ expectations are met. It was observed that India is rated highly for its rich art forms and cultural heritage. However, irritants like cheating, begging, unhygienic conditions, lack of safety dampen the spirits of tourists. India can be positioned on the world map only after these hygiene factors are improved along with other motivators.
The paper reports on research carried out on Australian nature-based operators that asked them to discuss what they wished they knew before they entered the sector, or alternatively, what they feel every new operator must know before entering business. The purpose of the study is to seek advice, in a qualitative manner, from established nature-based tour operators on the types of knowledge and skills needed by prospective new entrants to this sector. The study revealed that the problems of running a nature-based tour business in Australia are very similar to the generic problems faced by all manner of small businesses. To succeed, operators must be multi-skilled, they must possess the right personal qualities, business planning and management skills and they mustalso have appropriate operational skills to be able to deliver the products. A lack of ability in any of these skill or attribute areas may have an adverse effect on the success of the business.
Tourism is one of the more important sectors for the economy of Galicia (northwest of Spain). The aim of our study is to quantify determinants of Galician domestic tourism demand and their impacts. Additionally, confidence intervals for these impacts are calculated by bootstrapping data. The results show that income, Eastern vacations and the celebration of the Holy Year of the Apostle Saint James have had a relevant positive impact on tourism. There is also a significant positive connection between a meteorological phenomenon, the North Atlantic Oscillation (NAO), and tourism demand. On the other hand, the differential rates of inflation between Galicia and the rest of Spain and the 2008 economic crisis have had a negative effect
No prior research has considered the role corruption plays in a country's ability to compete globally in the tourism industry. Using the 2008 Travel and Tourism Competitiveness Index, a comprehensive measure of tourism competitiveness developed by the World Economic Forum, the 2006 Corruption Perception Index published by Transparency International and data from 119 countries, this study provides evidence that a reduction in corruption levels impacts positively on the level of tourism competitiveness across nations. The study also finds that the marginal gain in tourism competitiveness from a reduction in corruption levels is greater for developing countries than for developed countries.
Business travel is important and yet very few attempts have been made to model it. The aim of this study is to identify those economic variables that are most important in influencing business trips to Australia from four of Australia's most important travel and trade partners. Using a standard demand modelling approach suitably modified to deal with the motivations for business trips, Johansen's Full Information Maximum Likelihood technique is used to estimate the long-run relationship between business travel and its explanators. We find that the importance of the economic variables varies from country to country, although overall openness to trade and origin country real income are important variables explaining business travel.
This paper discusses the effects of terrorism and political unrest on the level of tourism activities in two developing countries that are a part of the Commonwealth, Kenya and Fiji. The paper explores the nature of the attacks and their impacts on the case studies in terms of the effects on the number of tourism arrivals and the volume of receipts. The responses of the governments, the media and the international communities are also examined to see if there are any guidelines to the likely magnitude and duration of the effects. The selection of case studies was limited to developing countries that are also members of the Commonwealth and which have had severe political instability or cases of terrorist attacks, or both. In so doing the paper observes the relationship that exists between the changes in arrivals and the changes in tourism receipts as a result of the occurrence of political/terrorist events. Comparisons are made between the effects on arrivals and receipts and the attempted recovery of both destinations. Although there is some commonality found in the results, the evidence of such a strong stable relationship is by no means conclusive. However, the results do suggest that political events such as a coup and internal political problems have far more severe impacts on the level of tourism activity than a low-to-medium, one-off terrorist attack. Copyright © 2008 John Wiley & Sons, Ltd.
Many countries of sub-Saharan Africa have made efforts to transform their tourism potential into a profitable industry. However, these efforts have largely failed. After discussing the primary motives of countries in the sub-region for undertaking tourism development, five inhibiting factors which appear to account primarily for this failure are identified. They are a negative image; lack of foreign exchange to procure parts, equipment and other resources for tourism development; lack of skilled manpower; weak institutional frameworks for tourism planning; and political instability, resulting from civil liberation wars and military coups, which compounds the other four problems. The paper concludes with suggested strategies for mitigating the impact of these inhibitors to tourism development.
This article describes the development and findings of a set of models used to identify the most important of the following selected variables influencing international tourist flows to Turkey: per capita income; relative prices; relative exchange rate; promotional expenditure (the Turkish Government has invested a substantial amount in promoting foreign tourism) and ‘special events’, eg political unrest. The demand for travel was measured both by the number of tourists, and by the total tourist expenditure. Data were obtained from secondary sources, and analysis was by least squares multiple regression. Income, price and exchange rate were found to be important factors but the impact of promotional expenditure was minimal
This paper presents a dynamic model of international tourism demand to Canary Islands. The empirical analysis exploits the panel structure of the dataset (for the 15 most important countries of origin of tourists over the period 1992–2002) by a Generalized Method of Moments estimation of a dynamic model taking into account unobserved country-specific effects. The preferred model is the GMM-DIFF proposed by Arellano and Bond, however other models are also shown for comparison. A dynamic model where the lagged dependent variable is included as regressor is used to obtain short-run and long-run elasticities. Problems arising from the non-stationarity of data are dealt with by using a model in first differences. The estimated coefficient for the lagged depended variable is always significant and may reflect a high degree of consumer loyalty or an important effect of word of mouth in determining demand of international tourism. In brief, the results suggests that tourism demand to Canary Islands must be considered as a luxury good and is highly dependent on the evolution of relative prices and cost of travel between origin and destination country.
The principal purpose of this study was to analyze the determinants of tourists’ length of stay at a destination. Data were collected through a questionnaire survey conducted in the summer of 2005. Exceptionally different from other similar studies, this study employed survival analysis to analyze the data. The findings indicate that, out of 39 variables, 16 significantly associated with tourists’ decisions about the length of their stays during a summer vacation. More specifically, nationality, education, income, experience, familiarity and daily spending are among those as the major determinants of the length to stay. An increase or decrease in such variables is accompanied by a significant increase or decrease in the length of stay. Implications for both the theory and the practice are discussed.
Institutions, as the implicit and explicit rules by which the members of a society interact, shape the economic behavior of agents and help explain the economic performance of countries. When these rules change constantly or are not respected, when the discretion of the government is unlimited, when property rights are not well secured, or when corruption is high and rule enforcement is weak, there is likely to be a problem with the quality of the institutions, since the delivery of services, the allocation of resources, and fair judgment will be less than desirable and the actual achievements will be less than the purported aim. Problems related to institutional quality may translate into an increased degree of uncertainty that sends mixed signals to the market, thus affecting the productive process. Not only is the institutional framework linked with economic performance, but it can also be linked with how a society's gains are distributed among its members, that is, with the distribution of income. In this article, we present cross-country evidence on the link between the quality of institutions and income inequality over a long period of time. The key question is, does institutional quality matter for income distribution? To the best of our knowledge, this is the first systematic empirical research that explores this link. We use two sets of institutional quality measures from two different private services, the International Country Risk Guide (ICRG) and the Business Environmental Risk Intelligence (BERI). These data sets contain measures on corruption, bureaucratic delays, risk of expropriation, rule of law, and other matters that we believe account well for the institutional quality in a society. The article is organized as follows. In Section II, we describe the data and provide some emphasis on regional differences. Section III presents some basic correlations. In Section IV, we show the econometric results for the different institutional quality measures, using both Gini coefficients and income shares. Section V presents robustness tests. The conclusion is in Section VI.
International tourism is a fast growing industry generating half a trillion dollars in annual revenues and accounting for almost 10% of total international trade, and almost half of total trade in services. Yet, it has so far failed to receive the attention it deserves from mainstream economics. This paper attempts to provide an initial understanding of the determinants of international tourism. This paper claims that international tourism, as other forms of trade in services, is driven by unique factors of production, and may be better dealt with in a single industry study rather than in a general equilibrium trade model. In order to understand these determinants the world is viewed as a market of differentiated products, and a discrete choice estimation technique is applied to a large three-dimensional data set of tourist flows. It is shown that a relatively simple estimation technique, combined with a rich data set, can deliver reasonable substitution patterns. It is found, among other things, that political risk is very important for tourism, and that exchange rates matter mainly for tourism to developed countries. These have exchange rate elasticity of about one.
This paper develops a new approach to the problem of testing the existence of a level relationship between a dependent variable and a set of regressors, when it is not known with certainty whether the underlying regressors are trend- or first-difference stationary. The proposed tests are based on standard F- and t-statistics used to test the significance of the lagged levels of the variables in a univariate equilibrium correction mechanism. The asymptotic distributions of these statistics are non-standard under the null hypothesis that there exists no level relationship, irrespective of whether the regressors are I(0) or I(1). Two sets of asymptotic critical values are provided: one when all regressors are purely I(1) and the other if they are all purely I(0). These two sets of critical values provide a band covering all possible classifications of the regressors into purely I(0), purely I(1) or mutually cointegrated. Accordingly, various bounds testing procedures are proposed. It is shown that the proposed tests are consistent, and their asymptotic distribution under the null and suitably defined local alternatives are derived. The empirical relevance of the bounds procedures is demonstrated by a re-examination of the earnings equation included in the UK Treasury macroeconometric model. Copyright © 2001 John Wiley & Sons, Ltd.
Climatic variability and a substantial fraction of the most recent temperature warming in the Northern Hemisphere can be accounted for by the North Atlantic Oscillation (NAO) index. The most pronounced anomalies have occurred since the winter of 1989, with significant implications on weather conditions in areas within the index's geographical scope. Because climate is one of the most important factors in explaining world movements by humans, in this paper, variability patterns between quarterly Revenue Passenger Kilometers (RPK), compiled by the European Airline Association, and the NAO index are investigated as a function of different time lags and diverse economic indicators, with the aim of evaluating the impact of NAO variability and trends that can be associated with the change in RPK since the nineties. Using a traditional international air travel demand model, it has been found that the dissociation of the NAO index into positive and negative fluctuations can be related to changes in different geographical RPK time series, once seasonal effects are removed. The results are consistent with the view that meteorological and climate conditions can act as both a pull and push factor.
This paper proposes unit root tests for dynamic heterogeneous panels based on the mean of individual unit root statistics. In particular it proposes a standardized t-bar test statistic based on the (augmented) Dickey–Fuller statistics averaged across the groups. Under a general setting this statistic is shown to converge in probability to a standard normal variate sequentially with T (the time series dimension) →∞, followed by N (the cross sectional dimension) →∞. A diagonal convergence result with T and N→∞ while N/T→k,k being a finite non-negative constant, is also conjectured. In the special case where errors in individual Dickey–Fuller (DF) regressions are serially uncorrelated a modified version of the standardized t-bar statistic is shown to be distributed as standard normal as N→∞ for a fixed T, so long as T>5 in the case of DF regressions with intercepts and T>6 in the case of DF regressions with intercepts and linear time trends. An exact fixed N and T test is also developed using the simple average of the DF statistics. Monte Carlo results show that if a large enough lag order is selected for the underlying ADF regressions, then the small sample performances of the t-bar test is reasonably satisfactory and generally better than the test proposed by Levin and Lin (Unpublished manuscript, University of California, San Diego, 1993).
An understanding of the nature of demand is critical for the formulation of a tourism development program. It is also important for developed countries where tourism is an important source of export. Thus, the aim of this paper is two-fold. First, it attempts to estimate an equation of the demand for tourism in order to analyse the different variables that influence the number of nights spent in a given destination. Second, by breaking up the total number of nights according to country of origin, it studies the reaction of tourists to given economic variables according to their origin. Copyright 2003 Blackwell Publishers Ltd
This paper seeks to explore the relationship between economic growth and governance performance in Asian developing economies. This exploration yields some interesting conclusions. First, notwithstanding its tremendous economic achievements, the state of governance in Asia is not stellar by international comparison. Indeed, the majority of these countries seem to suffer from a governance deficit. Second, contrary to our expectations, data do not suggest any strong positive link between governance and growth: paradoxically, countries that exhibit surpluses in governance on average grew much slower than those with deficits. The paper ends with some conjecture about this apparent paradox. Copyright 2006 Blackwell Publishing Ltd..
The determinants of inbound tourism in Laos
A comparative study of unit root tests with panel data and a new simple test
The impact of political violence on tourism: dynamic cross-national estimation
Determinants of international tourism demand for the Philippines: an augmented gravity model approach”, MPRA Paper No
- R Deluna