The paper studies the dynamics of economic growth caused by an increase in the growth rate of tourism demand.We develop a simple dynamic model of a small open economy, which is completely specialized in the production of tourism services (island economy model), populated by a large number of...

Modern theories of economic growth recognize human capital as the main factor of growth. Strong investments of countries in education and research are justified by this fact. However, there are few studies analyzing the interaction between the development of human capital and the economic growth...

This paper reformulates the neoclassical Solow model of economic growth in discrete time by introducing a generic population growth law that verifies the following properties: 1) population is strictly increasing and bounded; 2) the rate of growth of population is decreasing to zero as time tends...