IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/17326.html
   My bibliography  Save this paper

Holidays and the economic growth of nations

Author

Listed:
  • Amavilah, Voxi Heinrich

Abstract

There is sufficient microeconomic evidence that holidays are important to economic life. Is there similar support at the macroeconomic level? This exploratory paper uses a simple approach to assess the impacts of holidays on the economic growth rates of 182 nations in 2002. It finds that the human development level has a larger effect on economic growth rate than holidays. At the aggregate level holidays affect economic growth positively, but in a statistically insignificant way. For example, increasing by one day the number of holidays per year adds 0.30% to annual growth rate. Unlike non-religious holidays, religious holidays, whether Christian or non-Christian, affect economic growth negatively. The results are meaningful, yet statistically weak insofar as their explanatory power is only around 20%. They suggest that instruments for holidays, such as total sales revenue during holidays ,or something, other than the number of holidays, may be better explanatory variables. One can think of any number of fixes like remodeling the problem, choosing alternative estimators and/or functional forms. For now, those fixes belong to future efforts.

Suggested Citation

  • Amavilah, Voxi Heinrich, 2009. "Holidays and the economic growth of nations," MPRA Paper 17326, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:17326
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/17326/1/MPRA_paper_17326.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Sudhir Anand and Amartya Sen, 1994. "Human development Index: Methodology and Measurement," Human Development Occasional Papers (1992-2007) HDOCPA-1994-02, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Laura Birg & Anna Goeddeke, 2016. "Christmas Economics—A Sleigh Ride," Economic Inquiry, Western Economic Association International, vol. 54(4), pages 1980-1984, October.

    More about this item

    Keywords

    Holidays; economic growth; Madonna; human development index (HDI);

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • D60 - Microeconomics - - Welfare Economics - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:17326. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.