Economic Development and International and Interregional Tourism
: Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the industry interacts with the rest of economies within a comprehensive analytical framework. The main concern of this study is how international and interregional tourism inter...
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| Published in | Economic and Regional Studies / Studia Ekonomiczne i Regionalne Vol. 13; no. 4; pp. 375 - 387 |
|---|---|
| Main Author | |
| Format | Journal Article |
| Language | English Japanese |
| Published |
Warsaw
Walter de Gruyter GmbH
01.12.2020
Sciendo De Gruyter Poland |
| Subjects | |
| Online Access | Get full text |
| ISSN | 2451-182X 2083-3725 2451-182X |
| DOI | 10.2478/ers-2020-0028 |
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| Abstract | : Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the industry interacts with the rest of economies within a comprehensive analytical framework. The main concern of this study is how international and interregional tourism interacts with national economic development and economic structural change. Tourism and economic growth are investigated in a multi-regional small open economy which is perfectly competitive.
National economy consists of multiple regions and each region has three sectors: industry, service, and housing. Production side is the same as in the neoclassical growth theory. Households move freely between regions, equalizing utility level between regions by selecting housing, goods, tourism, and saving. A region’s amenity is endogenously related to the region’s population.
We explicitly solve the dynamics of the multi-regional economy. The system has a unique stable equilibrium point.
We simulate the motion of the model and examine the effects of changes in the rate of interest, foreigners’ preference for visiting a region, a region ‘s total productivity of the service sector, domestic consumers’ preference for visiting a region, as well as the propensity to save, the propensity to consume regional services and housing. |
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| AbstractList | : Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the industry interacts with the rest of economies within a comprehensive analytical framework. The main concern of this study is how international and interregional tourism interacts with national economic development and economic structural change. Tourism and economic growth are investigated in a multi-regional small open economy which is perfectly competitive.
National economy consists of multiple regions and each region has three sectors: industry, service, and housing. Production side is the same as in the neoclassical growth theory. Households move freely between regions, equalizing utility level between regions by selecting housing, goods, tourism, and saving. A region’s amenity is endogenously related to the region’s population.
We explicitly solve the dynamics of the multi-regional economy. The system has a unique stable equilibrium point.
We simulate the motion of the model and examine the effects of changes in the rate of interest, foreigners’ preference for visiting a region, a region ‘s total productivity of the service sector, domestic consumers’ preference for visiting a region, as well as the propensity to save, the propensity to consume regional services and housing. Subject and purpose of work : Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the industry interacts with the rest of economies within a comprehensive analytical framework. The main concern of this study is how international and interregional tourism interacts with national economic development and economic structural change. Tourism and economic growth are investigated in a multi-regional small open economy which is perfectly competitive. Materials and methods: National economy consists of multiple regions and each region has three sectors: industry, service, and housing. Production side is the same as in the neoclassical growth theory. Households move freely between regions, equalizing utility level between regions by selecting housing, goods, tourism, and saving. A region’s amenity is endogenously related to the region’s population. Results: We explicitly solve the dynamics of the multi-regional economy. The system has a unique stable equilibrium point. Conclusions: We simulate the motion of the model and examine the effects of changes in the rate of interest, foreigners’ preference for visiting a region, a region ‘s total productivity of the service sector, domestic consumers’ preference for visiting a region, as well as the propensity to save, the propensity to consume regional services and housing. Subject and purpose of work: Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the industry interacts with the rest of economies within a comprehensive analytical framework. The main concern of this study is how international and interregional tourism interacts with national economic development and economic structural change. Tourism and economic growth are investigated in a multi-regional small open economy which is perfectly competitive.Materials and methods: National economy consists of multiple regions and each region has three sectors: industry, service, and housing. Production side is the same as in the neoclassical growth theory. Households move freely between regions, equalizing utility level between regions by selecting housing, goods, tourism, and saving. A region’s amenity is endogenously related to the region’s population.Results: We explicitly solve the dynamics of the multi-regional economy. The system has a unique stable equilibrium point.Conclusions: We simulate the motion of the model and examine the effects of changes in the rate of interest, foreigners’ preference for visiting a region, a region ‘s total productivity of the service sector, domestic consumers’ preference for visiting a region, as well as the propensity to save, the propensity to consume regional services and housing. Subject and purpose of work: Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the industry interacts with the rest of economies within a comprehensive analytical framework. The main concern of this study is how international and interregional tourism interacts with national economic development and economic structural change. Tourism and economic growth are investigated in a multi-regional small open economy which is perfectly competitive. |
| Author | Wei-Bin Zhang |
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| Cites_doi | 10.2307/2297521 10.1002/jtr.1941 10.1017/CBO9780511805660 10.1016/S0022-1996(99)00034-3 10.1111/1467-937X.00265 10.1016/j.jmoneco.2012.10.011 10.4236/tel.2011.12007 10.1093/jeg/1.1.27 10.1111/1467-9396.t01-1-00355 10.1016/S0261-5177(03)00063-3 10.1111/j.1468-0106.2009.00441.x 10.2478/v10260-012-0007-8 10.2307/2232670 10.2307/1884513 10.2307/2554696 10.1016/S0261-5177(03)00131-6 10.1016/j.annals.2006.06.001 10.1016/S1574-0080(04)80017-8 10.1111/1468-5876.00251 10.1111/j.1468-0106.2003.00224.x 10.1016/j.jmoneco.2013.06.002 10.1016/0165-1765(93)90181-B 10.1068/a38393 10.5367/0000000042430962 10.1111/j.1467-937X.2005.00349.x 10.1016/S0022-1996(00)00073-8 10.1016/j.tourman.2008.04.004 10.2307/2296328 10.1093/oxfordjournals.oep.a041252 10.5367/0000000041895094 10.1111/j.1468-5876.2010.00518.x |
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| Snippet | : Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the industry interacts with the rest... Subject and purpose of work : Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the... Subject and purpose of work: Tourism was the fastest growing industry until the outbreak of Covid-2019. Nevertheless, there are a few studies on how the... |
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| SubjectTerms | Economic development Economics as a science growth HB71-74 HT388 international tourism interregional trade O41 Regional economics. Space in economics Regions services Tourism wealth accumulation Z32 |
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| Title | Economic Development and International and Interregional Tourism |
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