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Tourism and Development: A Recent Phenomenon Built on Old (Institutional) Roots? AgEcon
Brau, Rinaldo; Di Liberto, Adriana; Pigliaru, Francesco.
Is tourism an opportunity for lagging countries in the elusive quest for growth (Easterly, 2002)? Recent empirical evidence suggests that the answer is a cautious yes. Aggregate cross-country data show that tourism specialization is likely to be associated with higher per capita GDP growth rates than those observed in industrialized countries. However, this evidence ignores the importance of institutional quality and results are likely to be biased by omitted variable problems. In this paper we frame our starting question within the general debate about the importance of good/bad institutions as fundamental determinants of economic growth (Acemoglu et al., 2001) and ask whether previous positive results of tourism on growth are in fact driven by the...
Tipo: Working or Discussion Paper Palavras-chave: Economic Development; Tourism Specialization; Institutions; Community/Rural/Urban Development; O11; O50; O47; F43; L83.
Ano: 2010 URL: http://purl.umn.edu/59425
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How Fast are Small Tourist Countries Growing? The 1980-2003 Evidence AgEcon
Pigliaru, Francesco; Brau, Rinaldo; Lanza, Alessandro.
We analyze the empirical relationship between growth, country size and tourism specialization by using a dataset covering the period 1980-2003. We find that tourism countries grow significantly faster than all the other sub-groups considered in our analysis. Tourism appears to be an independent determining factor for growth, and the reason for that is neither because they are poorer than the average, nor because they are very open to trade. Another finding of our paper is that small states are fast-growing only when they are highly specialized in tourism. In contrast with some previous conclusions in the literature, smallness per se is not good for growth.
Tipo: Working or Discussion Paper Palavras-chave: International Development.
Ano: 2007 URL: http://purl.umn.edu/12129
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