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Book Cover
E-book
Author Culiuc, Alexander, author, author.

Title Determinants of international tourism / Alexander Culiuc
Published [Washington, D.C.] : International Monetary Fund, ©2014

Copies

Description 1 online resource (46 pages) : color illustrations
Series IMF working paper ; WP/14/82
IMF working paper ; WP/14/82.
Contents Cover; Abstract; Contents; I. Introduction; II. Data; Tables; 1. Dataset Summary Statistics; III. Empirical Strategy; IV. Estimation Results; A. Tourism Versus Merchandise Trade; 2. Gravity Equation for Tourism and Trade with Country Fixed Effects; B. Non-traditional Determinants of International Tourism; 3. Summary of Regressions on Tourist Arrivals; C. Country-pair Fixed Effects and First Differences Regressions; 4. Gravity Equation for Tourism and Trade with Country-pair Fixed Effects; 5. Regressions on Tourist Arrivals, Country-pair Fixed Effects and First Differences
D. Tourist Arrivals and the Real Exchange Rate6. First Differences Regressions with Alternative Measures of Real Exchange Rate; E. Tourist-nights Versus Tourist Arrivals; 7. Destination Countries Reporting Tourist-nights vs. Reporting Tourist Arrivals, 2009; 8. First Differences Regressions on Arrivals, Tourist-nights and Average Tourist Stay; F. Tourism to Small Island States; 9. First Differences Regressions on Tourist Arrivals with Small Islands Interaction Effect; V. Conclusions and Policy Implications; Annex Tables; A1. Top tourist Destinations, 2011
A2. Arrivals, Nights and Number of Observations by YearA3. Countries and Territories in Dataset and Data Availability; A4. Summary Statistics; A5. Regressions on Tourist Arrivals, Detailed Results; A6. Summary of Regressions on Tourist Arrivals, Intra-OECD Tourism only; A7. Summary of Regressions on Tourist Arrivals, Alternative Specifications; A8. First Differences Regressions, Alternative Specifications for Supply-side Variables; A9. First Differences Regressions, Alternative Measures of Real Exchange Rate, Intra-OECD
A10. First Differences Regressions. Small Island Destinations vs. the RestBibliography; Appendix. Tourist Arrivals Versus Tourism Receipts
Summary "The paper estimates the impact of macroeconomic supply- and demand-side determinants of tourism, one of the largest components of services exports globally, and the backbone of many smaller economies. It applies the gravity model to a large dataset comprising the full universe of bilateral tourism flows spanning over a decade. The results show that the gravity model explains tourism flows better than goods trade for equivalent specifications. The elasticity of tourism with respect to GDP of the origin (importing) country is lower than for goods trade. Tourism flows respond strongly to changes in the destination country's real exchange rate, along both extensive (tourist arrivals) and intensive (duration of stay) margins. OECD countries generally exhibit higher elasticties with respect to economic variables (GDPs of the two economies, real exchange rate, bilateral trade) due to the larger share of business travel. Tourism to small islands is less sensitive to changes in the country's real exchange rate, but more susceptible to the introduction/removal of direct flights"--Abstract
Notes "Strategy and Policy Review Department"--Page 2 of pdf
"May 2014."
Bibliography Includes bibliographical references
Notes Online resource; title from pdf title page (IMF.org Web site, viewed June 6, 2014)
Subject Tourism.
Tourism -- Econometric models
Service industries.
Foreign exchange rates.
Foreign exchange rates
Service industries
Tourism
Tourism -- Econometric models
Form Electronic book
Author International Monetary Fund. Strategy, Policy, and Review Department, issuing body.
ISBN 9781484383384
1484383389