标题：The Effects of International Tourism Receipts on Economic Growth: Evidence from the First 20 Highest Income Earning Countries from Tourism in the World (1996-2016)
出版社：Economic Laboratory for Transition Research Podgorica
摘要：In this study, the effects of tourism receipts on economic growth will
be investigated econometrically for the top 20 countries earning
most from international tourism (WTR-20) in the world for the period
1996-2016. From this aspect, this study aimed to empirically evaluate
whether international tourism receipts have an effect on economic
growth performances of the developed and developing countries
in the WTR-20 group as proposed by theoretical literature
under the tourism-led growth hypothesis. To determine the effects
of international tourism receipts on economic growth for WTR-20
group countries, a model is an extended form of Cobb-Douglas type
of production function, will be estimated under the secondgeneration
panel data analysis considering cross-sectional dependence.
As a result of the study, it is determined that international
tourism revenues have a positive and statistically significant effect
on economic growth in the WTR-20 group countries. Also, it is found
that there was unilateral causality running from international tourism
receipts to economic growth in the WTR-20 group countries.
These findings, which are in keeping with the theoretical literature
under the tourism-led growth hypothesis, indicate that international
tourism receipts have a significant effect on providing economic
growth and gaining sustainability in WTR-20 group countries with
their current structures.
关键词：Economic Growth;
Sustainability of Economic Growth;
International Tourism Receipts;
Second Generation Panel Data Analysis;
