Tourism specialization and economic development : evidence from the UNESCO World Heritage List / / prepared by Rabah Arezki, Reda Cherif, and John Piotrowski

• Record Nr.: UNINA9910827475003321
• Autore: Arezki Rabah
• Pubbl/distr/stampa: [Washington, D.C.], : International Monetary Fund, IMF Institute and Fiscal Affairs Dept., 2009
• ISBN: 1-4623-8099-9; 1-4527-6217-1; 1-4518-7323-9; 9786612843877; 1-282-84387-7
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (26 p.)
• Collana: IMF working paper ; ; WP/09/176
• Altri autori (Persone): CherifReda; PiotrowskiJohn M
• Disciplina: 301.24
• Soggetti: Tourism; Economic development
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "July 2009."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: 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
• Sommario/riassunto: 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.