Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/244183 
Year of Publication: 
2021
Series/Report no.: 
AGDI Working Paper No. WP/21/008
Publisher: 
African Governance and Development Institute (AGDI), Yaoundé
Abstract: 
There has been an increasing wave of globalization since the turn of the millennium. This study focuses on two by-products of globalization: dollarization and tourism. Empirical studies have ignored the possible relationship between dollarization and tourism. However, we hypothesize that a booming tourism industry will fuel increase in the usage and circulation of foreign currencies. The objective of this study is to examine the extent to which the tourism industry exacerbates the dollarization process of selected Sub-sahara African (SSA) countries. Using Tobit regression, we found that tourism positively affects dollarization. This result is robust to: (i) alternative measures of tourism; (ii) accounting for endogeneity and outlier effects.
Subjects: 
Dollarization
Tourism
Sub-saharan Africa
JEL: 
C11
E41
F31
Document Type: 
Working Paper

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