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The Impacts of International Tourism Demand on Economic Growth of a Small EconomyJuan Gabriel BridaFree University of Bolzano Stefan Franz SchubertFree University of Bozen-Bolzano Wiston Adrián RissoUniversity of Siena - Department of Economics June 18, 2009 Tourism Management, Vol. 32, No. 2, pp. 377-385, 2011 Abstract: This paper studies the impacts on economic growth of a small tourism driven economy caused by an increase in the growth rate of international tourism demand. We present a formal model and empirical evidence. The ingredients of the dynamic model are a large population of intertemporally optimizing agents and an AK technology representing tourism production. The model shows that an increase in the growth of tourism demand leads to transitional dynamics with gradually increasing economic growth and increasing terms of trade. The empirical application for the case of Antigua confirms the theoretical findings.
Number of Pages in PDF File: 24 Keywords: tourism demand, growth, economic dynamics, VEC model, Antigua and Barbuda Accepted Paper SeriesDate posted: June 18, 2009 ; Last revised: June 14, 2011Suggested CitationContact Information
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