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| Tekijä: | Schubert, S.F. Brida, J.G. Risso, W.A. |
| Otsikko: | The impacts of international tourism demand on economic growth of small economies dependent on tourism |
| Lehti: | Tourism Management
2011 : APR, VOL. 32:2, p. 377-385 |
| Asiasana: | tourism economic growth economic dynamics transition economies demand analysis |
| Vapaa asiasana: | Antigua and Barbuda |
| Kieli: | eng |
| Tiivistelmä: | This article examines the effects on economic growth of a small tourism-driven economy caused by an increase in the international tourism demand growth. A formal model is presented along empirical evidence. The dynamic model consists of a large population of intertemporally optimizing agents and an AK technology representing tourism production. The results imply that an increase in the tourism demand growth leads to transitional dynamics with gradually increasing economic growth and terms of trade. In the empirical part, an econometric methodology is applied to annual data of Antigua and Barbuda from 1970-2008. We perform a cointegration analysis to seek the existence of a long-run relationship among economic growth, international tourism earnings and the real exchange rate. The exercise supports the theoretical findings. |
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