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Tourism Specialization and Economic Development+L4183

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Author Info

  • John M. Piotrowski
  • Rabah Arezki
  • Reda Cherif

Abstract

The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period 1980-2002. We introduce an instrument for tourism based on the UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and economic growth. An increase of one standard deviation in the share of tourism in exports leads to about 0.5 percentage point in additional annual growth, everything else being constant. Our result holds against a large array of robustness checks.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 09/176.

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Length: 24
Date of creation: 01 Aug 2009
Date of revision:
Handle: RePEc:imf:imfwpa:09/176

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Related research

Keywords: Tourism; Economic growth; Economic models; unesco world heritage; heritage; world heritage; world heritage sites; heritage sites; cultural sites; world heritage list; heritage list; unesco world heritage list; world heritage committee; heritage committee; natural heritage; world heritage convention; biodiversity conservation; preservation; old city; economic impact of tourism;

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References

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  1. Dollar, David & Kraay, Aart, 2003. "Institutions, trade, and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 133-162, January.
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Citations

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Cited by:
  1. Enrico Bertacchini & Donatella Saccone, 2012. "Toward a political economy of World Heritage," Journal of Cultural Economics, Springer, vol. 36(4), pages 327-352, November.
  2. Roberto Patuelli & Maurizio Mussoni & Guido Candela, 2012. "The Effects of World Heritage Sites on Domestic Tourism: A Spatial Interaction Model for Italy," Working Paper Series 14_12, The Rimini Centre for Economic Analysis, revised Jan 2013.
  3. Bruno Frey & Paolo Pamini & Lasse Steiner, 2013. "Explaining the World Heritage List: an empirical study," International Review of Economics, Springer, vol. 60(1), pages 1-19, March.
  4. Chia-Lin Chang & Thanchanok Khamkaew & Michael McAleer, 2010. "IV Estimation of a Panel Threshold Model of Tourism Specialization and Economic Development," KIER Working Papers 708, Kyoto University, Institute of Economic Research.
  5. Andreas Freytag & Christoph Vietze, 2010. "Can nature promote development? The role of sustainable tourism for economic growth," Jena Economic Research Papers 2010-008, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  6. Shamnaaz B. Sufrauj, 2011. "Islandness and Remoteness as Resources: Evidence from the Tourism Performance of Small Remote Island Economies (SRIES)," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 29-66, March.
  7. Jorge Ridderstaat & Robertico Croes, 2013. "The Force Field of Tourism," Review of Economic Analysis, Rimini Centre for Economic Analysis, vol. 5(1), pages 1-24, June.
  8. Hari Sharma Neupane & Chandra Lal Shrestha & Tara Prasad Upadhyaya, 2012. "Modelling Monthly International Tourist Arrivals and Its Risk in Nepal," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 24(1), pages 28-47, April.
  9. Bruno S. Frey & Paolo Pamini & Lasse Steiner, 2011. "What determines the World Heritage List? An econometric analysis," ECON - Working Papers 001, Department of Economics - University of Zurich.
  10. Matthijs Rolsma, 2012. "A Future for the Past: The Economic Value of Historic Preservation," NEURUS papers neurusp151, NEURUS - Network of European and US Regional and Urban Studies.
  11. Cellini, Roberto & Cuccia, Tiziana, 2009. "Museum and monument attendance and tourism flow: A time series analysis approach," MPRA Paper 18908, University Library of Munich, Germany.
  12. Tiziana Cuccia, 2012. "Is it worth being inscribed in the world heritage list? A case study of “The Baroque cities in Val di Noto” (Sicily)," RIEDS - Rivista Italiana di Economia, Demografia e Statistica - Italian Review of Economics, Demography and Statistics, SIEDS Societa' Italiana di Economia Demografia e Statistica, vol. 0(2), pages 169-190.
  13. S. Capacci & A. E. Scorcu & L. Vici, 2014. "Eco labels and tourism flows: How much is a Blue Flag worth?," Working Papers wp917, Dipartimento Scienze Economiche, Universita' di Bologna.
  14. Bertacchini Enrico & Saccone Donatella, 2011. "The political economy of world heritage," EBLA Working Papers 201101, University of Turin.
  15. Saccone Donatella & Bertacchini Enrico, 2011. "Culture, Heritage and Economic Development - Empowering Developing Countries," EBLA Working Papers 201102, University of Turin.
  16. Bertacchini Enrico & Saccone Donatella & Santagata Walter, 2009. "Enhancing the valorisation of UNESCO World Heritage Sites: a Pigouvian Approach," EBLA Working Papers 200903, University of Turin.

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