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El turismo como motor de crecimiento económico: impacto de las preferencias intertemporales de los agentes
[The tourism as economic growth engine: the impact of the agents time preferences]

Author

Listed:
  • Brida, Juan Gabriel
  • London, Silvia
  • Rojas, Mara

Abstract

This paper studies the relationships between tourism and economic growth through a dynamic model showing how the time preference affect the investment in a economic sector based on natural resources as tourism. Assuming extreme values, it is possible to verify that a high time preference or discounting rate (greater preference for the present consumption) leads to systems with negative net investment rates (gross investment rates equal to the depreciation rate) and to the natural resources depletion. Given the dynamic of the model, three results can be analized: constant economic growth, whose rate will depend on the willingness to the protection of the environment and the parameters of the model; a scenario with moderate economic growth according to positive values although low of the discounting rate; and a poverty trap situation in those societies with extremely low future valuation.

Suggested Citation

  • Brida, Juan Gabriel & London, Silvia & Rojas, Mara, 2012. "El turismo como motor de crecimiento económico: impacto de las preferencias intertemporales de los agentes
    [The tourism as economic growth engine: the impact of the agents time preferences]
    ," MPRA Paper 36607, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:36607
    as

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    File URL: https://mpra.ub.uni-muenchen.de/36607/1/MPRA_paper_36607.pdf
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    References listed on IDEAS

    as
    1. Javier Capó Parrilla & Antoni Riera Font & Jaume Rosselló Nadal, 2005. "Dutch Disease in Tourism Economies. Evidence from Spain," CRE Working Papers (Documents de treball del CRE) 2005/01, Centre de Recerca Econòmica (UIB ·"Sa Nostra"), revised Jan 2005.
    2. Azariadis, Costas & Stachurski, John, 2005. "Poverty Traps," Handbook of Economic Growth,in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 5 Elsevier.
    3. F. Cerina, 2006. "Tourism specialization and environmental sustainability in a dynamic economy," Working Paper CRENoS 200602, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    4. R. Brau & A. Lanza & F. Pigliaru, 2006. "How fast are small tourist countries growing? The 1980-2003 evidence," Working Paper CRENoS 200614, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    economic growth ; tourism ; intertemporal preferences;

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • C0 - Mathematical and Quantitative Methods - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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