Linking tourism flows and biological biodiversity in Small Island Developing States (SIDS): evidence from panel data
| Autor: | Patrick Kent Watson, Sonja S. Teelucksingh |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Economics and Econometrics
business.industry Natural resource economics Environmental resource management Biodiversity Development Environmental data Demand curve International policy Nature Conservation Economics Small Island Developing States business Tourism General Environmental Science Panel data |
| Zdroj: | Environment and Development Economics. 18:392-404 |
| ISSN: | 1469-4395 1355-770X |
| DOI: | 10.1017/s1355770x13000120 |
| Popis: | Small Island Developing States (SIDS) are characterized by high levels of biodiversity that are under threat. Simultaneously, the tourism sector plays a key role in many of these economies. In this paper, the Hausman-Taylor estimator is used to investigate a tourism demand function in SIDS in which marine and terrestrial biodiversity play a key role, in addition to the traditional economic and price variables. This estimator allows for both the presence of time-invariant variables, a standard feature of environmental data, and the existence of endogenous covariates. Levels of biodiversity are found to have a significant influence on tourism in SIDS and, in particular, a test for redundant variables shows that the biodiversity variables are jointly significant. This justifies their inclusion in a tourism demand function, over and above the conventional economic factors, and points to the importance of national and international policy in protecting the biodiversity of SIDS. |
| Databáze: | OpenAIRE |
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