Exploring the relationship between tourism and offshore finance in small island economies: lessons from Jersey
AbstractMany islands host tourism and offshore finance but research tends to focus on either industry without examining the nature of the relationship(s) between these two where they co-exist. This paper examines the nature of the relationships using a case study of the British Channel Island of Jersey. Both industries demand labour, land and capital that are frequently scarce in small islands. Given their common characteristics and, drawing lessons from Jersey, the paper then considers the nature and the dynamics of their relationship, and the issue of resource competition between the two sectors. In light of the unusual context of small polities and the political power of external actors, the paper also analyses the dynamics of the central relationship between tourism, offshore finance and the state in islands. Finally, the paper considers the overall impact of the relationship between tourism and offshore finance and how it affects the economic development trajectory of small islands.
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Bibliographic InfoPaper provided by EconWPA in its series International Finance with number 0507006.
Length: 40 pages
Date of creation: 11 Jul 2005
Date of revision:
Note: Type of Document - pdf; pages: 40
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tax havens; island tourism; island development;
Find related papers by JEL classification:
- F - International Economics
- N - Economic History
- O - Economic Development, Technological Change, and Growth
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-07-18 (All new papers)
- NEP-FMK-2005-07-18 (Financial Markets)
- NEP-TUR-2005-07-18 (Tourism Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hampton, Mark P. & Christensen, John, 2002. "Offshore Pariahs? Small Island Economies, Tax Havens, and the Re-configuration of Global Finance," World Development, Elsevier, vol. 30(9), pages 1657-1673, September.
- M P Hampton & J E Christensen, 1999. "Treasure Island revisited. Jersey's offshore finance centre crisis: implications for other small island economies," Environment and Planning A, Pion Ltd, London, vol. 31(9), pages 1619-1637, September.
- Palan, Ronen, 2002. "Tax Havens and the Commercialization of State Sovereignty," International Organization, Cambridge University Press, vol. 56(01), pages 151-176, December.
- Christensen, J. & Hampton, M.P., 1998. "The Capture of the State in Jersey's Offshore Finance Centre," Papers 119, Portsmouth University - Department of Economics.
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