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Is Casino Gaming a Productive Sector? A Conceptual and Cross-jurisdiction Analysis

Author

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  • Ricardo Chi Sen Siu

    (University of Macau)

Abstract

Casino gaming has been one of the world's fastest growing service sectors since the 1970s. Different from the traditional service sectors which are theoretically extensions of physical goods production in an economy, casino gaming is a form of entertainment service intending to satisfy a specific form of human desire - to pay for a chance to win. Despite the practical difficulties in measuring the economic output and input of casino gaming, data released by the industry suggest that this is a very productive sector. In principle, while social costs associated with the provision of casino gaming may downgrade its productivity, promotion of investment, production and consumption of non-gaming services should be reckoned as part of the productivity of modern casino gaming.

Suggested Citation

  • Ricardo Chi Sen Siu, 2007. "Is Casino Gaming a Productive Sector? A Conceptual and Cross-jurisdiction Analysis," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(2), pages 129-146, June.
    • Handle: RePEc:buc:jgbeco:v:1:y:2007:i:2:p:129-146
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    Citations

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    Cited by:

    1. Michael Wenz, 2014. "Casinos, Gambling, and Economic Development: An Introduction to the Special Issue," Growth and Change, Wiley Blackwell, vol. 45(1), pages 1-4, March.
    2. Wu, Shou-Tsung & Chen, Yeong-Shyang, 2015. "The social, economic, and environmental impacts of casino gambling on the residents of Macau and Singapore," Tourism Management, Elsevier, vol. 48(C), pages 285-298.

    More about this item

    Keywords

    CASINO GAMING; PRODUCTIVITY; DEVELOPMENT;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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