Tourism and economic development in a cash-in-advance economy

Chao, Chi-Chur, Hazari, Bharat and Sgro, Pasquale 2005, Tourism and economic development in a cash-in-advance economy, Research in international business and finance, vol. 19, no. 3, pp. 365-373.

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Title Tourism and economic development in a cash-in-advance economy
Author(s) Chao, Chi-Chur
Hazari, Bharat
Sgro, Pasquale
Journal name Research in international business and finance
Volume number 19
Issue number 3
Start page 365
End page 373
Publisher Elsevier Science Direct
Place of publication London, England
Publication date 2005-09
ISSN 0275-5319
1878-3384
Keyword(s) cash in advance
economic development
tourism
Summary This paper examines the impact of tourism on welfare in a cash-in-advance economy. As a result of the expansion in tourism, the price of the non-traded good increases. This gives rise to a terms-of-trade improvement. However, the cash-in-advance constraint causes a distortion in consumption. For tourism demand, where the gain from the terms-of-trade improvement dominates (does not dominate) the loss from the consumption distortion, tourism is welfare-improving (welfare-reducing). A similar condition for welfare improvement (deterioration) holds for a model of capital inflow and endogenised tourism.
Notes Available online 1 July 2005.
Language eng
Field of Research 140208 Health Economics
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2005, Elsevier B.V.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30008914

Document type: Journal Article
Collections: Deakin Graduate School of Business
Higher Education Research Group
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