problem to the general literature on dummy variables and their interpretation. It is demonstrated that the implementation of …

three variables of a political system—political freedom, political stability, and policy certainty—and relates them to … the direct effects of the three key political variables on economic growth and the indirect effects of democracy in terms … of other variables (political instability, inflation, investment, education, income distribution, property rights, and …

and internal variables; (iii) programmed macroeconomic objectives such as real growth, inflation, and exchange …

In this paper we examine whether tourism predicts macroeconomic variables in Pacific Island countries (PICs), namely … regression framework, where the null hypothesis is that visitor arrivals do not predict macroeconomic variables, which we proxy …