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Tourism and Development: A Recent Phenomenon Built on Old (Institutional) Roots?

Author

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  • Rinaldo Brau
  • Adriana Di Liberto
  • Francesco Pigliaru

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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Suggested Citation

  • Rinaldo Brau & Adriana Di Liberto & Francesco Pigliaru, 2011. "Tourism and Development: A Recent Phenomenon Built on Old (Institutional) Roots?," The World Economy, Wiley Blackwell, vol. 34(3), pages 444-472, March.
    • Handle: RePEc:bla:worlde:v:34:y:2011:i:3:p:444-472
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    Cited by:

    1. Iza Lejárraga & Peter Walkenhorst, 2013. "Economic policy, tourism trade and productive diversification," International Economics, CEPII research center, issue 135-136, pages 1-12.
    2. Jean-Fran ois Hoarau, 2020. "Is international tourism responsible for the pandemic of COVID-19? A preliminary cross-country analysis with a special focus on small islands," TEPP Working Paper 2020-04, TEPP.
    3. Jean-François Hoarau, 2022. "Is international tourism responsible for the outbreak of the COVID-19 pandemic? A cross-country analysis with a special focus on small islands," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 158(2), pages 493-528, May.
    4. 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 2012.30, Fondazione Eni Enrico Mattei.
    5. Constantin ANGHELACHE & Madalina-Gabriela ANGHEL & Florin Paul Costel LILEA & Doina BUREA & Doina AVRAM, 2017. "European Union Strategy For Industry, Trade And Services Development," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(8), pages 145-158, August.
    6. Francesco Scorza & Rachele Vanessa Gatto, 2023. "Identifying Territorial Values for Tourism Development: The Case Study of Calabrian Greek Area," Sustainability, MDPI, vol. 15(6), pages 1-16, March.
    7. Ceyhun Can OZCAN & Murat ASLAN & Saban NAZLIOGLU, 2017. "Economic freedom, economic growth and international tourism for post-communist (transition) countries: A panel causality analysis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(611), S), pages 75-98, Summer.
    8. Ulrich Gunter & M. Graziano Ceddia & David Leonard & Bernhard Tröster, 2018. "Contribution of international ecotourism to comprehensive economic development and convergence in the Central American and Caribbean region," Applied Economics, Taylor & Francis Journals, vol. 50(33), pages 3614-3629, July.
    9. Taha Chaiechi & Josephine Pryce & Abhishek Bhati, 2015. "Research Note: Macroeconomic Impacts of the Tourism Industry and the Contemporaneous Feedback Effect — An Australian Case Study," Tourism Economics, , vol. 21(3), pages 685-696, June.
    10. Prest, Brian C., 2018. "Explanations for the 2014 oil price decline: Supply or demand?," Energy Economics, Elsevier, vol. 74(C), pages 63-75.

    More about this item

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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