Tourism Policies and Cross-Country Growth: A Disaggregated Analysis

Tourism Economics, 16(3), 2010, pp. 535-548

Posted: 1 Oct 2014

See all articles by Rajeev K. Goel

Rajeev K. Goel

Illinois State University - Department of Economics

Jelena Budak

Institute of Economics, Zagreb

Date Written: September 2010

Abstract

Using recent cross-country data for over a hundred nations, this paper examines the effects of various disaggregated tourism policy measures on economic growth. Based on standard growth theory, the model uniquely incorporates tourism variables disaggregated across various dimensions of tourism policy, tourism infrastructure and human resources. Both standard growth models and endogenous growth models are estimated. The authors find that, among a wide set of tourism policies, strengthened tourism safety regulations and government prioritization of the tourism industry boost economic growth, while some tourism initiatives and infrastructure investments seem to have perverse growth effects. All else being equal, economic growth is higher in transition nations.

Keywords: economic growth; human resources; infrastructure; regulation; tourism policy; transition countries

JEL Classification: D12, L83

Suggested Citation

Goel, Rajeev K. and Budak, Jelena, Tourism Policies and Cross-Country Growth: A Disaggregated Analysis (September 2010). Tourism Economics, 16(3), 2010, pp. 535-548. Available at SSRN: https://ssrn.com/abstract=2503048

Rajeev K. Goel (Contact Author)

Illinois State University - Department of Economics ( email )

Normal, IL 61790-4200
United States

Jelena Budak

Institute of Economics, Zagreb ( email )

Croatia

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