[...]... 8 19 3 8 19 4 8 19 5 8 19 6 8 19 7 8 19 8 8 19 9 9 19 0 9 19 1 9 19 2 9 19 3 9 19 4 95 7.8 (a) STCs 12 .8 12 .6 12 .4 12 .2 12 .0 11 .8 11 .6 19 8 19 0 8 19 1 8 19 2 8 19 3 8 19 4 8 19 5 8 19 6 8 19 7 8 19 8 8 19 9 9 19 0 9 19 1 9 19 2 9 19 3 9 19 4 95 11 .4 (b) Small NTCs Figure 1. 2 ␴-convergence, 19 80–95, coefficient of variation, logs of per capita income The growth performance of small tourism countries 19 ... 19 60–95 (%) No of countries 1. 79 Ϫ2. 31 1 .13 2. 51 2.53 Ϫ0 .18 Ϫ0.52 0.45 21 14 29 10 14 15 37 14 3 2. 81 0 .17 1. 85 2.29 2. 51 1.67 0.22 1. 63 21 14 26 7 11 15 36 14 0 The growth performance of small tourism countries 13 receipts for the years 19 60–79, so we cannot answer this question directly However, by using the series reported in the E–K dataset, we can compare the performance of our groups of countries... Islands*** Swaziland Comoros Botswana Luxembourg Cape Verde** Iceland Suriname Djibouti Gabon Notes: 11 9.4 8.2 7.8 5.3 4.0 3.6 3.4 3.3 2.7 2.5 1. 8 1. 8 1. 7 1. 2 0.2 ** 19 98 data; ** *19 93/98 average 14 500 14 000 13 500 13 000 12 500 12 000 11 500 11 000 10 500 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Figure 1. 1 OECD, real per capita GDP in constant dollars (international prices, base year 19 85) analysing the relative... determinants and STCs Dummies (1) Log real per-c GDP, average 19 80–95 (2) Log inv as a share of GDP, aver 19 80–95 (3) Share of trade in GDP, aver 19 80–95 (4) Standard dev of GDP growth, 19 80–95 OECD 1. 3853 (10 .67)*** 0.7623 (3.98)*** 0.4487 (2.20)** 0.32 61 (1. 91) * 14 3 0. 711 0.2 410 (2.09)** 0.2 715 (1. 64)* 0.2 816 (2.29)** 0.4424 (3. 51) 13 8 0. 413 Ϫ0 .13 15 ( 1. 25) 0 .13 68 (1. 46) 0.5393 (5.27)*** 0.5492 (5 .15 )*** 14 1... performance of each group, let us consider for a moment the more general picture Figure 1. 1 shows the time path of per capita GDP in the OECD countries as a group The period 19 80–95 is one of relatively slow growth, due to the existence of two sub-periods of very 12 The economics of tourism and sustainable development slow or even negative growth (at the beginning of the 19 80s and of the 19 90s) As a result, the. .. (2 .12 )** Ϫ0. 015 9 (Ϫ2.59)*** Ϫ0. 014 7 (Ϫ2.62)*** Ϫ0.0094 (Ϫ2.63)*** 0.0095 (3. 21) *** Ϫ0.2060 ( 1. 27) 14 1 0.487 0.0775 (4.40)*** (6) 0. 018 6 (3.00)*** Ϫ0. 015 6 (Ϫ2.48)** Ϫ0. 016 8 (Ϫ3.09)*** Ϫ0.0095 (Ϫ2.64)*** 0.0064 (1. 87)* 0. 015 9 (3.50)*** 14 1 0.475 (7) 0. 018 5 (3.02)*** Ϫ0. 017 4 (Ϫ2.79)*** Ϫ0. 016 0 (Ϫ2.82)*** Ϫ0.0097 (Ϫ2. 71) *** 0.0085 (2.52)** 16 Table 1. 6 The economics of tourism and sustainable development. ..2 The economics of tourism and sustainable development SUSTAINABLE TOURISM: A MACROECONOMIC PERSPECTIVE What are these tools of economic analysis, and how do they relate to tourism? The first is the ‘macroeconomics tool box’ This allows us to study the growth performance of countries and understand the sources of growth There is, of course, great controversy on this topic, especially on what are the. .. Table 1. 7 we compare the standard deviation of the growth rates of the various groups of countries The standard deviation of STCs is higher than that of OECD countries, and is slightly lower than that of all the other groups and of the whole sample Although explaining the observed dispersion in the growth rates of STCs is an interesting issue, it is well beyond the scope of the present chapter Among other... An additional way to test whether factors other than tourism specialization are the source of the positive performance of STCs is to consider how 15 Growth and STCs – II 14 1 0.4 31 (1) 0. 015 6 (2. 31) ** Ϫ0. 018 6 (Ϫ2.99)*** Ϫ0. 014 9 (Ϫ2.58)*** Ϫ0.0099 (Ϫ2.63)*** 0. 012 5 (4.03)*** 14 1 0.469 0. 018 2 (2.80)*** (2) 0. 018 7 (3.05)*** Ϫ0. 017 5 (Ϫ2.80)*** Ϫ0. 016 6 (Ϫ2.94)*** Ϫ0. 010 0 (Ϫ2. 81) *** 0.0092 (2.80)*** Notes:... population of less than one million during 19 60–95.4 In our dataset, 29 countries out of a total of 14 3 meet this condition As for the definition of tourism country’, henceforth the degree of tourism specialization is defined by the ratio of international tourist receipts to GDP In Table 1. 1 we list all countries in our dataset with a degree of tourism specialization 10 The economics of tourism and sustainable . Markandya and Marialuisa Tamborra The Economics of Tourism and Sustainable Development Edited by Alessandro Lanza, Anil Markandya and Francesco Pigliaru The Economics of Tourism and Sustainable Development Edited. average. 10 500 13 2 45678 910 111 213 1 415 16 11 000 11 500 12 000 12 500 13 000 13 500 14 000 14 500 Figure 1. 1 OECD, real per capita GDP in constant dollars (international prices, base year 19 85) . tourism specialization (average 19 80–95) Jordan* , *** 10 .1 Singapore* 11 .4 Samoa 12 .6 Fiji 13 .0 Jamaica* 18 .4 Grenada 18 .8 Cyprus 19 .1 Malta 21. 1 St Vincent and the Grenadines 22.2 Vanuatu** 22.9 Seychelles