Tourism Specialization and Economic Development

The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period 1980-2002. We introduce an instrument for tourism based on the UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and economic growth. An increase of one standard deviation in the share of tourism in exports leads to about 0.5 percentage poi

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Year of publication:	2009
Authors:	Piotrowski, John M.
Other Persons:	Arezki, Rabah (contributor) ; Cherif, Reda (contributor)
Publisher:	Washington : International Monetary Fund
Subject:	Tourismus \| Tourism \| Wirtschaftswachstum \| Economic growth \| Welt \| World \| Entwicklung \| Economic development \| Arbeitsteilung \| Division of labour \| Theorie \| Theory \| Internationaler Tourismus \| International tourism \| Tourismusökonomie \| Tourism economics

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Extent:	Online-Ressource (26 p)
Series:	IMF Working Papers IMF working paper ; WP/09/176
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Contents; I. Introduction; Figures; 1. Economic Growth and Tourism Specialization; II. UNESCO World Heritage List as An Instrument for Tourism Specialization; 2. UNESCO World Heritage Around the World; Tables; 1. Regional and Historical Distribution of World Heritage Sites (2002); 2. Correlation Between Total UNESCO World Heritage Sites and Average UN Voting Coincidence, 1980-2000; III. Empirical Investigation; A. Data and Specification; B. Results; 3. Benchmark Regressions; C. Robustness; IV. Conclusion; Appendixes; I. Data Description and Sources; Appendix Tables; 1. Data Description 2. Countries Included in the SampleII. Additional Robustness Checks; 3. Robustness using Various WHL; 4. Robustness to Using Only Cultural Sites; 5. Robustness to Removing various Centuries from the WHL; 6. Robustness to Using Additional Instruments for Tourism; 7. Robustness to using Different Measures of GDP; References
ISBN:	978-1-4518-7323-8 ; 978-1-4519-1749-9 ; 978-1-4518-7323-8
Source:	ECONIS - Online Catalogue of the ZBW

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