This paper proposes a novel approach to quantitatively estimating the magnitude of China's capital flight through the … outbound travel expenditure. We adopt a counterfactual method to calculate the magnitude of China's capital flight through the … travel channel. Our results show that, from 2014 to 2020, China's capital flight through the travel channel reached a total …

Institutions, which directly or indirectly determine the "rules of behavior" in the tourism sector, represent the … Institutional bases for tourism development in Montenegro. They are tourism policy-makers including other institutions which … stimulate or dissimulate development of the destination product. In that sense, institutions in Montenegro cannot still be …