Thacker, Nita; S. (Sebastian) Acevedo Mejia; Perrelli, … - International Monetary Fund (IMF) - 2012
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 … countries there is scope for further expansion of this sector. Third, the small size and the fact that most of these countries …