A note on the human capital and tourism growth nexus: a semi-parametric approach
DOI:
https://doi.org/10.17811/ebl.11.2.2022.79-87Keywords:
Human capital, Tourism growth, Labour substitutability, Semi-parametric analysisAbstract
We investigate the impact of human capital on tourism growth by using a semi-parametric fixed effects estimator developed in Baltagi and Li (2002). The results shed new light on the existing literature since they unveil strong non-linear effects of human capital on tourism growth. Furthermore, we uncover a non-monotonic “M-shaped” curve between human capital and growth when we impose the assumption of imperfect labor substitutability.
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