Álvarez-Albelo, Carmen; Hernández-Martín, Raúl - Xarxa de Referència en Economia Aplicada (XREAP) - 2007
exports tourism services to and imports capital goods from the rich economy. In one model tourism is a luxury good, while in … tourism is a luxury good. In this case, there is a faster increase in the tourism demand. As a result, investment of the small …