in Asia during the 1990s is found to be mainly from capital deepening. Total factor productivity (TFP) is also decomposed …

is explained more by a decline in productivity rather than a lack of investment. Second, tourism has been a significant … contributor to higher growth (through both capital accumulation and productivity) and lower output volatility, and in many … are islands have limited growth. Policies aimed at improving productivity, further development of the tourism sector, and …