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Tourism and Economic Growth At Regional Level: the Cases of Spain and Italy

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  • Isabel Cortes-Jimenez

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    Abstract

    During the last years have appeared several papers in the literature which provide empirical evidence of the importance of the role of tourism in the economic growth but always for a concrete country or for a sample of countries. In this paper, however, the importance of the expansion of the tourism sector is studied at regional level, that is to say, the relevance of tourism for the regional economic growth, within a country . For this objective, we focus this work in two of the most important countries in tourism terms around the world: Italy and Spain. In this sense, not only the effect of international tourism is analysed, as it is usual in this kind of studies, but also the importance of the domestic market. Complementary, in addition to analyse the Spanish and Italian regions jointly and separately, we take into account some criteria as, for instance, the geographical location of regions. The period of analysis is from 1990 to 2000. And regarding the methodology, the Arellano-Bond estimator for dynamic panels and the Kiviet’s finite sample correction are applied.

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    Bibliographic Info

    Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa06p61.

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    Date of creation: Aug 2006
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    Handle: RePEc:wiw:wiwrsa:ersa06p61

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    1. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
    2. Boltho, Andrea & Carlin, Wendy & Scaramozzino, Pasquale, 1997. "Will East Germany Become a New Mezzogiorno?," Journal of Comparative Economics, Elsevier, vol. 24(3), pages 241-264, June.
    3. Bond, Stephen Roy & Hoeffler, Anke & Temple, Jonathan, 2001. "GMM Estimation of Empirical Growth Models," CEPR Discussion Papers 3048, C.E.P.R. Discussion Papers.
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    6. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 1127-70, November.
    7. Jacint Balaguer & Manuel Cantavella-Jordá, 2000. "Tourism As A Long-Run Economic Growth Factor: The Spanish Case," Working Papers. Serie EC 2000-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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    12. repec:chb:bcchwp:03 is not listed on IDEAS
    13. Bun, Maurice J. G. & Kiviet, Jan F., 2003. "On the diminishing returns of higher-order terms in asymptotic expansions of bias," Economics Letters, Elsevier, vol. 79(2), pages 145-152, May.
    14. Alessandro Lanza & Francesco Pigliaru, 1999. "Why Are Tourism Countries Small and Fast-Growing?," Working Paper CRENoS 199906, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    15. Lokman Gunduz & Abdulnasser Hatemi-J, 2005. "Is the tourism-led growth hypothesis valid for Turkey?," Applied Economics Letters, Taylor and Francis Journals, vol. 12(8), pages 499-504.
    16. Jonathan Temple, 1999. "The New Growth Evidence," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 112-156, March.
    17. Caselli, Francesco & Esquivel, Gerardo & Lefort, Fernando, 1996. " Reopening the Convergence Debate: A New Look at Cross-Country Growth Empirics," Journal of Economic Growth, Springer, vol. 1(3), pages 363-89, September.
    18. Adriana Di Liberto & Francesco Pigliaru & Roberto Mura, 2008. "How to measure the unobservable: a panel technique for the analysis of TFP convergence," Oxford Economic Papers, Oxford University Press, vol. 60(2), pages 343-368, April.
    19. Juan Luis Eugenio-Martín & Noelia Martín Morales & Riccardo Scarpa, 2004. "Tourism and Economic Growth in Latin American Countries: A Panel Data Approach," Working Papers 2004.26, Fondazione Eni Enrico Mattei.
    20. Benhabib, Jess & Spiegel, Mark M, 2000. " The Role of Financial Development in Growth and Investment," Journal of Economic Growth, Springer, vol. 5(4), pages 341-60, December.
    21. Tiago Neves Sequeira & Carla Campos, 2005. "International Tourism and Economic Growth: a Panel Data Approach," Working Papers 2005.141, Fondazione Eni Enrico Mattei.
    22. Kristin J. Forbes, 2000. "A Reassessment of the Relationship between Inequality and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 869-887, September.
    23. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July.
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