Tourism Specialization and Economic Development : Evidence from the UNESCO World Heritage List / John Piotrowski, Rabah Arezki, Reda Cherif.

Format:

Book

Government document

Author/Creator:

Pi︠a︡troŭski, I︠A︡n.

Contributor:

Arezki, Rabah.

Cherif, Reda.

IMF Institute.

International Monetary Fund. Fiscal Affairs Department.

Series:

IMF Working Papers; Working Paper ; No. 2009/176

IMF Working Papers

Language:

English

Subjects (All):

Tourism.

Economic development.

Physical Description:

1 online resource (26 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2009.

Language Note:

English

Summary:

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 1980-2002. We introduce an instrument for tourism based on the UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and economic growth. An increase of one standard deviation in the share of tourism in exports leads to about 0.5 percentage point in additional annual growth, everything else being constant. Our result holds against a large array of robustness checks.

Contents:

Contents; I. Introduction; Figures; 1. Economic Growth and Tourism Specialization; II. UNESCO World Heritage List as An Instrument for Tourism Specialization; 2. UNESCO World Heritage Around the World; Tables; 1. Regional and Historical Distribution of World Heritage Sites (2002); 2. Correlation Between Total UNESCO World Heritage Sites and Average UN Voting Coincidence, 1980-2000; III. Empirical Investigation; A. Data and Specification; B. Results; 3. Benchmark Regressions; C. Robustness; IV. Conclusion; Appendixes; I. Data Description and Sources; Appendix Tables; 1. Data Description

2. Countries Included in the SampleII. Additional Robustness Checks; 3. Robustness using Various WHL; 4. Robustness to Using Only Cultural Sites; 5. Robustness to Removing various Centuries from the WHL; 6. Robustness to Using Additional Instruments for Tourism; 7. Robustness to using Different Measures of GDP; References

Notes:

"July 2009."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786612843877

9781462380992

1462380999

9781452762173

1452762171

9781451873238

1451873239

9781282843875

1282843877

OCLC:

450034800