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| Author: | Holzner, M. |
| Title: | Tourism and economic development: The beach disease? |
| Journal: | Tourism Management
2011 : AUG, VOL. 32:4, p. 922-933 |
| Index terms: | tourism economic development international |
| Language: | eng |
| Abstract: | This paper deals empirically with the danger of a Dutch Disease Effect (as: DE) in tourism dependent countries (henceforth as: t-d-ctrs.) in the long run. The analysis is based on data from 134 countries of the world from 1970 to 2007. In a first step, the long-run relationship btw. tourism and economic growth is analysed in a cross-country setting. The results are checked in a panel data framework on GDP per capita levels allowing for controlling for reverse causality, non-linearity and interactive effects. There is found no danger of a Beach DE. Conversely, t-d-ctrs. don't encounter real exchange rate distortion and de-industrialization but higher than average economic growth rates. Investment in physical capital, e.g. transport infrastructure is complementary to investment in tourism. |
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