Demand for Inbound Tourism in Russia: Panel Data Analysis

Student: Mamaeva Polina

Educational Programme: Economics (Bachelor)

Year of Graduation: 2020

This paper is focused on determining the most appropriate and significant price and non-price factors regarding international tourism demand by carrying out econometric analysis. Based on theoretical review, the paper empirically examines the data on tourist arrivals from 53 countries over the period of 9 years (2010-2018) using panel data techniques. One of the main contributions of the work is that it compares fixed (FE) and random effects (RE) models in terms of efficiency and statistical significance. As evidenced by the results, the effectiveness of the FE model is confirmed in the case of the best specification, while random effects are preferable in the event of the inclusion of time-dummy variables in the model. This study could be advanced by comparing models with different dependent variables, switching to dynamic panels using the Arellano-Bond procedure and obtaining a more precise tourism price determinant.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses