Tourism, globalization, social externalities, and domestic welfare

Chao, Chi-Chur, Hazari, Bharat R. and Sgro, Pasquale M. 2004, Tourism, globalization, social externalities, and domestic welfare, Research in international business and finance, vol. 18, no. 2, pp. 141-149, doi: 10.1016/j.ribaf.2003.12.001.

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Title Tourism, globalization, social externalities, and domestic welfare
Author(s) Chao, Chi-ChurORCID iD for Chao, Chi-Chur
Hazari, Bharat R.
Sgro, Pasquale M.ORCID iD for Sgro, Pasquale M.
Journal name Research in international business and finance
Volume number 18
Issue number 2
Start page 141
End page 149
Publisher Elsevier
Place of publication Greenwich, Conn.
Publication date 2004-06
ISSN 0275-5319
Keyword(s) tourism
social externalities
Summary One of the impacts of globalisation has been the growth in tourism and mobility of capital. This paper examines the welfare effect of tourism on the host economy with imperfect competition. Three channels that affects domestic welfare by tourism are: social externalities accompanied with tourists, the terms of trade effect via rises in the non-tradable prices, and the resource movement effect to the manufacturing sector. Owing to the positive terms-of-trade effect and/or the beneficial resource movement effect, the optimal levels of tourism occur at the situations that tourists bring negative social externalities to the economy.
Language eng
DOI 10.1016/j.ribaf.2003.12.001
Field of Research 140210 International Economics and International Finance
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2004, Elsevier B.V.
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