Role of Tourism and Human Capital in Economic Growth

The tourism sector has gathered increased attention aiming to assess its impact on economic growth. This study explores the impact of the tourism sector on the economic growth of SAARC countries using balanced panel data from 1995 to 2019. First- and second-generation panel unit root tests were employed for stationarity, and the findings revealed that the data series are stationary at the first difference. The Westerlund and Edgerton error correction panel cointegration test was applied to address heterogeneity and cross-sectional dependence. The Granger causality approach introduced by Westerlund and Edgerton (2007) was utilized to examine the causal relationship among tourism, human capital, and economic growth. The empirical results provide evidence in support of tourism-induced growth and tourism-induced human capital. The tourism did not appear to play a major role in growth and employment. Policymakers are encouraged to enhance the quality of life and determine the competitiveness in the global tourism market

Causality (physics · Cointegration · Granger causality · Human capital · Panel analysis · Panel data · Tourism · Unit root · Genomics and Phylogenetic Studies · Mycorrhizal Fungi and Plant Interactions · Plant Pathogens and Fungal Diseases

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