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AGRICULTURE, TOURISM, ENERGY AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS
Abstract. This study investigates the main determinants of economic growth examining a structural system equation model taking into account the positive effect of agriculture, tourism and energy development on economic growth. Two stage least squares method is used in order to define the direct and indirect relationships between the dependent and independent variables of the estimated model. The empirical results indicated that agriculture, tourism and energy sectors promote economic growth increasing innovation and entrepreneurship.
Keywords: economic growth; agriculture; tourism; energy sector; system equation model; two stage least squares method