Impacts of Tourism and Fiscal Expenditure on Remote Islands in Japan: A Panel Data Analysis



Table 4 Estimated Results of Selected Model

Selected Log-Linear Model

Minimum SBIC Model

Tourism

0.023400

(1.1405)

Government Expenditure

0.239760*

0.256613*

(2.0454)

(2.2069)

Population

0.109877**

0.091558**

(3.2424)

(2.8534)

θ

0.026027**

0.025977**

(5.9840)

(5.9788)

Constant

5.48255**

5.51734**

(4.4867)

(4.5018)

Dummies

Time

Time

R2

0.98049

0.98040

Standard Error

0.050311

0.050311

Log Likelihood

4102.39

4101.89

SBIC_________________

___________-4004.08___________

___________-4007.51____________

Note: t-values are given in brackets.

**= the null hypothesis that this coefficient is zero is rejected at a significance level of 1%.

*= the null hypothesis that this coefficient is zero is rejected at a significance level of 5%.

14



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