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Tourism and growth in a dynamic model of trade

journal contribution
posted on 1995-01-01, 00:00 authored by B R Hazari, Pasquale Sgro
This paper investigated the relationship between tourism and growth in a dynamic model of trade. Tourism is incorporated in the model by allowing non-traded goods and services to be consumed by tourists along with domestic residents. It explores the interrelationship between growth in tourism, capital accumulation, per capita consumption and the terms of trade in a dynamic setting. We show that tourism can substitute for domestic savings by acting as a time-saving device. The analysis is carried out for both the small and the large country case. For the small country case welfare necessarily increases with the growth in tourist consumption of non-traded goods.

History

Journal

Journal of international trade and economic development

Volume

4

Issue

2

Pagination

243 - 252

Publisher

Routledge

Location

Abingdon, Eng.

ISSN

0963-8199

eISSN

1469-9559

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal; C Journal article

Copyright notice

1995, Routledge

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