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]
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.
|Date of creation:||12 Feb 2012|
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- Azariadis, Costas & Stachurski, John, 2005.
Handbook of Economic Growth,
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Working Paper CRENoS
200614, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
- Francesco Pigliaru & Rinaldo Brau & Alessandro Lanza, 2007. "How Fast are Small Tourist Countries Growing? The 1980-2003 Evidence," Working Papers 2007.1, Fondazione Eni Enrico Mattei.
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- 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.
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