Tourism, dutch disease and welfare in an open dynamic economy

Chao, Chi-Chur, Hazari, Bharat R., Laffargue, Jean-Pierre, Sgro, Pasquale and Yu, Eden S. H. 2006, Tourism, dutch disease and welfare in an open dynamic economy, Japanese economic review, vol. 57, no. 4, pp. 501-515.

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Title Tourism, dutch disease and welfare in an open dynamic economy
Author(s) Chao, Chi-Chur
Hazari, Bharat R.
Laffargue, Jean-Pierre
Sgro, Pasquale
Yu, Eden S. H.
Journal name Japanese economic review
Volume number 57
Issue number 4
Start page 501
End page 515
Publisher Blackwell Publishing Asia
Place of publication Oxford
Publication date 2006
ISSN 1352-4739
1468-5876
Keyword(s) F11
F43
Summary This paper examines the effects of an expansion in tourism on capital accumulation, sectoral output and resident welfare in an open economy with an externality in the traded good sector. An expansion of tourism increases the relative price of the nontraded good, improves the tertiary terms of trade and hence yields a gain in revenue. However, this increase in the relative price of nontraded goods results in a lowering of the demand for capital used in the traded sector. The subsequent de-industrialization in the traded good sector may lower resident welfare. This result is supported by numerical simulations.
Notes Final version accepted 31 December 2004 Published Online: 3 Nov 2006
Language eng
Field of Research 140202 Economic Development and Growth
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2006 Japanese Economic Association
Persistent URL http://hdl.handle.net/10536/DRO/DU:30003547

Document type: Journal Article
Collections: Deakin Graduate School of Business
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