On the Investigation of Factors Effecting International Tourist Arrivals to Cambodian Market: A Static and Dynamic Gravity Approach

Chhorn, Theara (2017): On the Investigation of Factors Effecting International Tourist Arrivals to Cambodian Market: A Static and Dynamic Gravity Approach. Published in: Southeast Asian Journal of Economics , Vol. 5, No. 2 (December 2017): pp. 115-138.

Abstract

The paper investigates factors influencing international tourist arrivals into the Cambodian market during the period of 1995 to 2015, covered 32 cross-sectional countries by adopting a static and dynamic gravity approach with respect to fixed effects (FE) and random effects (RE) and the GMM estimator of Arellano and Bond (1991). Our analysis shows that mostly economic factors such as travel cost, GDP per capita and population size are the main sources in attracting international tourist arrivals. The country specific dummy variables are found to be associated with the respects to its significant level. The empirical results demonstrate that one and two step GMM with robust standard errors produces better outcomes and improves the estimated accuracy over a static approach.

• Item Type: MPRA Paper
• Commentary on: Eprints 0 not found.
• Language: English
• Keywords: Gravity Model, International Tourist Arrivals, Arellano and Bond (1991), GMM, Fixed and Random Effect, Cambodia
• Subjects: C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General; C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables; C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C33 - Panel Data Models ; Spatio-temporal Models; C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C50 - General; C - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs > C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access; Z - Other Special Topics > Z0 - General; Z - Other Special Topics > Z0 - General > Z00 - General

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