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Tourism and Development: A recent phenomenon built on old (institutional) roots?

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  • Francesco Pigliaru

    ()

  • Adriana Di Liberto

    ()

  • Rinaldo Brau

Abstract

Is tourism an opportunity for lagging countries in the elusive quest for growth (Easterly, 2002)? Recent empirical evidence suggests that the answer is a cautious yes. Aggregate cross-country data show that tourism specialization is likely to be associated with higher per capita GDP growth rates than those observed in industrialized countries. However, this evidence ignores the importance of institutional quality and results are likely to be biased by omitted variable problems. In this paper we frame our starting question within the general debate about the importance of good/bad institutions as fundamental determinants of economic growth (Acemoglu et al., 2001) and ask whether previous positive results of tourism on growth are in fact driven by the presence of growth enhancing institutions. Our empirical analysis exploits newly available datasets and controls the robustness of previous results on growth and tourism in the presence of several institutional quality variables. By means of descriptive statistics and some simple cross-country regressions we confirm that the quality of institutions is important for growth. Yet our results strongly suggest that the weight of tourism in an economy is an independent and robust predictor of higher-than-average growth.

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Bibliographic Info

Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa10p990.

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Date of creation: Sep 2011
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Handle: RePEc:wiw:wiwrsa:ersa10p990

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  1. William Easterly, 2002. "The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262550423, December.
  2. R. Brau & A. Lanza & F. Pigliaru, 2006. "How fast are small tourist countries growing? The 1980-2003 evidence," Working Paper CRENoS, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia 200614, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  3. Feenstra, R.C., 1990. "Trade And Uneven Growth," Papers, California Davis - Institute of Governmental Affairs 353, California Davis - Institute of Governmental Affairs.
  4. Johnson, Paul & Durlauf, Steven N & Temple, Johnathan R. W., 2004. "Growth Econometrics," Vassar College Department of Economics Working Paper Series, Vassar College Department of Economics 61, Vassar College Department of Economics.
  5. Easterly, William & Kraay, Aart, 2000. "Small States, Small Problems? Income, Growth, and Volatility in Small States," World Development, Elsevier, Elsevier, vol. 28(11), pages 2013-2027, November.
  6. R A Read & H W Armstrong, 1998. "Trade and growth in small states: the impact of global trade liberalisation," Working Papers, Lancaster University Management School, Economics Department 539452, Lancaster University Management School, Economics Department.
  7. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, American Economic Association, vol. 91(5), pages 1369-1401, December.
  8. Easterly, William & Levine, Ross, 2003. "Tropics, germs, and crops: how endowments influence economic development," Journal of Monetary Economics, Elsevier, Elsevier, vol. 50(1), pages 3-39, January.
  9. F. Cerina, 2006. "Tourism specialization and environmental sustainability in a dynamic economy," Working Paper CRENoS, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia 200602, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  10. Daron Acemoglu & Veronica Guerrieri, 2006. "Capital Deepening and Non-Balanced Economic Growth," 2006 Meeting Papers, Society for Economic Dynamics 207, Society for Economic Dynamics.
  11. Maarten Bosker & Harry Garretsen, 2009. "Economic development and the geography of institutions," Journal of Economic Geography, Oxford University Press, Oxford University Press, vol. 9(3), pages 295-328, May.
  12. Briguglio, Lino, 1995. "Small island developing states and their economic vulnerabilities," World Development, Elsevier, Elsevier, vol. 23(9), pages 1615-1632, September.
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Cited by:
  1. Iza Lejárraga & Peter Walkenhorst, 2013. "Economic policy, tourism trade and productive diversification," Economie Internationale, CEPII research center, CEPII research center, issue 135-136, pages 1-12.
  2. Angelo Bencivenga & Margaretha Breil & Mariaester Cassinelli & Livio Chiarullo & Annalisa Percoco, 2012. "The Possibilities for the Development of Tourism in the Appennino Lucano Val d'Agri Lagonegrese National Park: A Participative Qualitative-Quantitative Approach," Working Papers, Fondazione Eni Enrico Mattei 2012.30, Fondazione Eni Enrico Mattei.

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