@article{ART003209481},
author={Kim, Jung-Seo and Bae, Se-Young},
title={A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data},
journal={Journal of Asia-Pacific Studies},
issn={1225-8539},
year={2025},
volume={32},
number={2},
pages={173-204},
doi={10.18107/japs.2025.32.2.007}
TY - JOUR
AU - Kim, Jung-Seo
AU - Bae, Se-Young
TI - A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data
JO - Journal of Asia-Pacific Studies
PY - 2025
VL - 32
IS - 2
PB - Institute of Global Affairs
SP - 173
EP - 204
SN - 1225-8539
AB - This study has attempted to sketch out testing Tourism-led Growth Hypothesis (TLGH) from 1995 to 2020 for 47 major countries worldwide. A confounder approach has been utilized in model specification, while Unconditional Quantile Regression (UQR) and Recentered Influence Function (RIF)-Oaxaca method are used for regressing and decomposing the factors. Unlike other studies used the income level as the quantile, this study employed the Pritchett (2000)’s different economic growth patterns for each country as a new quantile, then double quantile regression has been performed.As a result, first, we could reject the null-hypothesis that tourism growth has a positive impact on economic growth using tourism receipts variable, which the most of the previous literature used. Second, it is interesting to note that central government debt plays a big negative role in the group of low-growth countries, but not in the countries with high economic growth rates. Third, it is also worth noting that excessively high exchange rate (depreciation of the currency) might have a negative impact on economic growth rate in the low-growth patterns’ countries. Finally, total exports has a positive impact on economic growth only in the groups of the high growth countries.
Moreover, this paper provides a policy implication from the decomposition results that the difference of means in growth rates between groups can not be explained by the variables used, but they siginificantly rely on country-specific effects.
KW - ▪Key Word: Tourism-led growth hypothesis;confounder approach;unconditional quantile regression (UQR);RIF-Oaxaca decomposition
DO - 10.18107/japs.2025.32.2.007
ER -
Kim, Jung-Seo and Bae, Se-Young. (2025). A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data. Journal of Asia-Pacific Studies, 32(2), 173-204.
Kim, Jung-Seo and Bae, Se-Young. 2025, "A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data", Journal of Asia-Pacific Studies, vol.32, no.2 pp.173-204. Available from: doi:10.18107/japs.2025.32.2.007
Kim, Jung-Seo, Bae, Se-Young "A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data" Journal of Asia-Pacific Studies 32.2 pp.173-204 (2025) : 173.
Kim, Jung-Seo, Bae, Se-Young. A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data. 2025; 32(2), 173-204. Available from: doi:10.18107/japs.2025.32.2.007
Kim, Jung-Seo and Bae, Se-Young. "A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data" Journal of Asia-Pacific Studies 32, no.2 (2025) : 173-204.doi: 10.18107/japs.2025.32.2.007
Kim, Jung-Seo; Bae, Se-Young. A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data. Journal of Asia-Pacific Studies, 32(2), 173-204. doi: 10.18107/japs.2025.32.2.007
Kim, Jung-Seo; Bae, Se-Young. A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data. Journal of Asia-Pacific Studies. 2025; 32(2) 173-204. doi: 10.18107/japs.2025.32.2.007
Kim, Jung-Seo, Bae, Se-Young. A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data. 2025; 32(2), 173-204. Available from: doi:10.18107/japs.2025.32.2.007
Kim, Jung-Seo and Bae, Se-Young. "A New Test of the Tourism-Led Growth Hypothesis Using Unconditional Quantile Regression (UQR) with Panel Data" Journal of Asia-Pacific Studies 32, no.2 (2025) : 173-204.doi: 10.18107/japs.2025.32.2.007
