Citation

Solarin, Sakiru Adebola and Lasisi, Taiwo Temitope and Seetaram, Neelu (2026) Institutional quality, financial development and tourism market diversification in OECD and non-OECD countries: A panel quantile approach. Tourism Economics. ISSN 1354-8166

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Abstract

This study examines the determinants of tourism market diversification in 70 OECD and non-OECD countries, while considering the roles of institutional quality and financial development. Amodel of tourism diversification is developed using the novel method of moment quantile re-gression and estimated using data span of 24 years. The results show that improved institutionalquality, financial development and an increase in average income of visitors lead to an increase intourism market diversification in the full sample, OECD countries, and non-OECD countries.Increases in infrastructural facilities lead to lower tourism market diversification in the full sampleand non-OECD countries, while generating more tourism market diversification in OECDcountries. The results further indicate that appreciation of the local currency generates an increasein market diversification in non-OECD countries but a decrease in tourism market diversification inthe OECD countries.

Item Type:	Article
Uncontrolled Keywords:	Financial development, augmented tourism
Subjects:	H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance.
Divisions:	Faculty of Management (FOM)
Depositing User:	Ms Rosnani Abd Wahab
Date Deposited:	01 Jul 2026 01:17
Last Modified:	01 Jul 2026 01:17
URII:	http://shdl.mmu.edu.my/id/eprint/16168

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