Pregled bibliografske jedinice broj: 697275
The price tag of tourism: do small open economies experiance higher prices of goods and services?
The price tag of tourism: do small open economies experiance higher prices of goods and services? // 5th international conference on advances in tourism economics
Lisabon, Portugal, 2014. (predavanje, međunarodna recenzija, neobjavljeni rad, znanstveni)
CROSBI ID: 697275 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
The price tag of tourism: do small open economies experiance higher prices of goods and services?
(The price tag of tourism: do small open economies dependent on tourism revenues experiance higher prices of goods and services?)
Autori
Tkalec, Marina ; Vizek, Maruška
Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, neobjavljeni rad, znanstveni
Skup
5th international conference on advances in tourism economics
Mjesto i datum
Lisabon, Portugal, 15.05.2014. - 16.05.2014
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
price level; tourism activity; panel data models; small open economies; European Union
Sažetak
Although theoretical models describing the influence of tourism on welfare of the host economy suggest that increase in prices is a direct outcome of intensified tourism activity, so far this outcome has not been put to the empirical test. Therefore, we use panel data models on a data set covering EU new member states and candidate countries (Montenegro and Turkey) in order to investigate the relationship between tourism dependence and the price level. Along with modeling the overall price level, we also separately model the price level of consumer goods, price level of consumer services, and price level of goods and services associated with tourism consumption (hotels and restaurants, recreation and culture, transportation, and food and beverages). Thereby, we control for other factors that commonly influence the price level of an economy, such as income, productivity, trade openness, money and fiscal dominance. Our results suggest that a dominant tourism sector increases the overall price level in the economy. This effect is however much stronger for prices of consumer services, in particular for prices of recreation and culture and hotel and restaurants.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija