A note on the human capital and tourism growth nexus: A semi-parametric approach

Abstract

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.