Tourism and economic development in a cash-in-advance economy

被引：16

作者：

Chao, Chi-Chur ^{[1
,2
]}

Hazari, Bharat ^{[2
]}

Sgro, Pasquale ^{[2
]}

机构：

[1] Chinese Univ Hong Kong, Dept Econ, Shatin, Hong Kong, Peoples R China

[2] Deakin Univ, Deakin Business Sch, Malvern, Vic 3144, Australia

来源：

RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE | 2005年 / 19卷 / 03期

关键词：

Cash in advance; Economic development; Tourism;

D O I：

10.1016/j.ribaf.2005.05.003

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the impact of tourism on welfare in a cash-in-advance economy. As a result of the expansion in tourism, the price of the non-traded good increases. This gives rise to a terms-oftrade improvement. However, the cash-in-advance constraint causes a distortion in consumption. For tourism demand, where the gain from the terms-of-trade improvement dominates (does not dominate) the loss from the consumption distortion, tourism is welfare-improving (welfare-reducing). A similar condition for welfare improvement (deterioration) holds for a model of capital inflow and endogenised tourism. (C) 2005 Elsevier B. V. All rights reserved.

引用

页码：365 / 373

页数：9

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