Table 5.
Various scenic spots and tourist arrivals.
| Pooling (7) | FE (8) | Pooling (9) | FE (10) | |
|---|---|---|---|---|
| Constant | 1.929 (36.556) | −18.047 (36.245) | ||
| lnCPGDP | 0.428*** (0.115) | 1.131*** (0.150) | 0.318*** (0.115) | 1.150*** (0.150) |
| lnPOP | 0.658*** (0.043) | 0.518*** (0.034) | 0.682*** (0.043) | 0.515*** (0.034) |
| lnEXCH | 0.141*** (0.038) | 0.102*** (0.025) | 0.150*** (0.037) | 0.101*** (0.025) |
| lnDIS | −1.615*** (0.271) | 0.123 (0.288) | −1.667*** (0.302) | 0.119 (0.288) |
| lnACCOM | 0.578*** (0.050) | – | 0.581*** (0.051) | – |
| lnINFRA | 0.175*** (0.066) | 0.029 (0.157) | 0.218*** (0.067) | 0.051 (0.156) |
| lnCRIME | 0.016 (0.075) | −0.015 (0.117) | 0.098 (0.074) | 0.033 (0.115) |
| lnHR | 0.691*** (0.126) | −0.482 (0.386) | 0.486*** (0.130) | −0.335 (0.408) |
| SARS | −0.623*** (0.063) | −0.678*** (0.043) | −0.596*** (0.063) | −0.660*** (0.043) |
| lnFDI | 0.264*** (0.041) | 0.243*** (0.076) | 0.223*** (0.041) | 0.238*** (0.077) |
| WHS-CUL | 0.032*** (0.005) | 0.002 (0.005) | ||
| WHS-NAT | 0.008*** (0.003) | 0.004 (0.004) | ||
| 43A-CUL | 0.055*** (0.006) | 0.009 (0.010) | ||
| 43A-NAT | −0.001 (0.007) | 0.014* (0.008) | ||
| 43A-MOD | 0.005* (0.003) | −0.006 (0.004) | ||
| Time | −0.001 (0.018) | 0.148*** (0.020) | 0.009 (0.018) | 0.154*** (0.019) |
| DAIRPORT | Yes | deleted | Yes | Delete |
| DCOUNTRY | Yes | yes | Yes | Yes |
| R-square | 0.759 | 0.901 | 0.762 | 0.901 |
| Hausman test | 41.162*** | 34.984*** | ||
| # of provinces | 26 | 26 | 26 | 26 |
| # of obs. | 1404 | 1404 | 1404 | 1404 |
Notes: Figures in parentheses are standard deviations. * and *** represent significance at the 10% and 1% statistical levels, respectively.