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...

Tourism has over the past decades turned into a core activity for accelerated growth. The purpose of this study is to determine the role of tourism in the economy of Aruba. More specifically, this investigation attempts to answer the following questions: (1) Is there is a long-run equilibrium...

The aim of this paper is to present a methodology for the decomposition of economic growth by industry which allows between provinces comparisons in Iran. The authors use the growth of real GDP per capita as a measure of economic growth and disaggregate it into economic growth created by tourism...

Over the past decades, cross-border financial flows have increased in importance and have in many occasions exceeded the underlying current account positions. This phenomenon has been accompanied by an increase in the volume of international equity transactions that accentuate the role of...