Tourism, Dutch disease and welfare in an open dynamic economy

Chao, Chi-Chur, Hazari, Bharat R., Laffargue, Jean-Pierre, Sgro,PM and Yu, Eden S.H. 2011, Tourism, Dutch disease and welfare in an open dynamic economy. In Hazari, Bharat R. and Hoshmand, Reza (ed), Tourism, trade and welfare: theoretical and empirical issues, Nova Science Publishers, New York, N.Y., pp.35-57.

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Title Tourism, Dutch disease and welfare in an open dynamic economy
Author(s) Chao, Chi-ChurORCID iD for Chao, Chi-Chur
Hazari, Bharat R.
Laffargue, Jean-Pierre
Sgro,PMORCID iD for Sgro,PM
Yu, Eden S.H.
Title of book Tourism, trade and welfare: theoretical and empirical issues
Editor(s) Hazari, Bharat R.
Hoshmand, Reza
Publication date 2011
Chapter number 3
Total chapters 12
Start page 35
End page 57
Total pages 23
Publisher Nova Science Publishers
Place of Publication New York, N.Y.
Summary This chapter 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 non traded good, improves the tertiary terms-of-trade and hence yields a gain in revenue. However, this increase in the relative price of non traded 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. © 2011 Nova Science Publishers, Inc.
ISBN 9781612097145
Language eng
Field of Research 140207 Financial Economics
Socio Economic Objective 900301 Economic Issues in Tourism
HERDC Research category B2.1 Book chapter in non-commercially published book
Copyright notice ©2011, Nova Science Publishers
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Document type: Book Chapter
Collection: Department of Economics
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