Dacia and the Roman Empire:Tourism-led Growth and Catching-up with Macro-economic Constraints
For catching-up countries the convergence path is to be accurately monitored and guided to non inflationary growth, especially for accession countries to the Eu. In this paper, we argue that a strategic planning on the development of tourism for a specific region within a wider macroeconomic and institutional context may help accelerate a catching-up process provided some important risks are known and "discounted" ex-ante. In particular, the usual Keynesian multiplier and the balance of payments channels might worsen the macroeconomic framework required for Eu accession. Furthermore, tourism is founded on non-homogeneous capital with different carrying capacities that should be accurately assessed and enhanced. The main conclusion of the paper is that in order to guarantee a positive contribution of tourism-led growth to a catching-up regional economy, the supply side should keep pace with the demand side and a strategic planning by regional authorities should be implemented because externalities and public goods are an essential part of the tourist supply chain.
Year of publication: |
2008
|
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Authors: | Bini, Piero ; Masini, Fabio |
Institutions: | Centro di Ricerca sull'Economia delle Istituzioni (CREI), Università degli Studi di Roma 3 |
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