Tourism Specialization, Income Distribution, and Human Capital in South America

In the present chapter, we analyze the relation between tourism specialization, income distribution, and human capital in South America between 1995 and 2015. Causality is studied by applying different approaches. On one hand, the panel data Granger causality test and the test proposed by Dumitrescu and Hurlin are conducted. On the other hand, the individual causality test for each country is considered by applying the classical Granger causality and a novel symbolic causality test. The results suggest that tourism specialization measured as arrival/population (TSA) and receipts/exports (TSR) and human capital cause income distribution. The estimated regressions suggest the existence of a Kuznets curve between tourism specialization and income distribution in South America, presenting threshold for TSA equal to 53.20% and TSR equal to 19.98%. Under these thresholds, tourism specialization increases income inequality, but overpassing them the income distribution improves. In addition, human capital has also a positive effect on income distribution

Symbolic Time Series Analysis and Its Application in Social Sciences

The present chapter intents to present the symbolic time series analysis (STSA) reviewing the recent developments in sciences. Even if there are very few works applied to social sciences, STSA has a potential to be developed. In particular, due to the limitations about historical data, fields such as Economics and Finance need to develop statistical tests to prove their hypotheses. An independence test and a causality test based on STSA are reviewed. They seem to be more powerful, detecting different kinds of nonlinearities compared with the classical tests, usually applied in social sciences. However, there is much work to do with STSA, and social sciences are a fertile field for the development of new powerful tools

The Cruise Passengers’ Expenditure in Uruguay 2008-2010

En los últimos años el turismo de cruceros se ha expandido en Uruguay. En 2009/10 arribaron 292.048 cruceristas generando un gasto promedio de U$S 61,05. El presente estudio utiliza las encuestas de cruceristas de 2008/09 y 2009/10 para analizar el perfil de visitante que determina este nivel de gasto. Se encuentra que el turista argentino reduce el gasto en 29de gastar es de 86porcentuales.In the last years the cruise tourism has increased in Uruguay. In 2009/10 arrived 292,048 cruise passengers producing an average expenditure of U$S 61.05. The present study uses the cruise surveys of 2008/09 and 2009/09 to analyze the cruise passenger profile determining this expense level. We found that the Argentinean tourist reduces the expenditure in 29% and 41%, whereas the Brazilian tourist increases the average expenditure in 21% and 16% per head. The probability of spending is 86% and 86% in each period, and the displeasure for the prices decreases the probability in 7 and 4 perceptual points

An approximation of the Uruguayan departmental tourism GDP in 2010

En el presente estudio se estima el PIB turístico (PIBT) departamental de Uruguay, regionalizando los resultados obtenidos en el ejercicio piloto de Cuentas Satélite de Turismo en el año 2008, usando la metodología de (Geary y Stark, 2002). Se encuentra que los departamentos de Montevideo y Maldonado generan el 62,92% del PIBT cuando se consideran sólo las actividades Hoteles y Restaurantes en 2010. La distribución departamental parece no diferir estadísticamente de las últimas aproximaciones oficiales que datan de 2006. Se aprecia que más del 80% del PIBT se concentra en la costa sur del país. Cabe destacar el gran crecimiento, tanto en la producción como en participación, que presenta el departamento de Rocha y que puede estar relacionada al desarrollo turístico que ha tenido en los últimos años.In this document the Uruguayan departmental tourism GDP was estimated, disaggregating the results obtained in the first Tourism Satellite Accounts in 2008, using (Geary and Stark, 2002) methodology. Montevideo and Maldonado generate 62.92% of Tourism GDP in 2010 considering Hotels and restaurants activities only. The departmental distribution does not differ statistically from the latest official approaches dating from 2006. It is noted that more than 80% of the touristic GDP is concentrated in the southern coast of the country. Also noteworthy is the significant growth in production and participation of Rocha and may be related to tourism development in recent years

The balance of payments constrained growth model: empirical evidence for Bolivia, 1953-2002 * * * *

SUMMARY Much of the theoretical and empirical literature has focused on supply factors when studying economic growth determinants, leaving aside demand factors. The present study, instead, analyzes external demand factors as determinants of Bolivian economic growth between 1953-2002 utilizing models introduced b

Turismo y crecimiento económico: el caso de Uruguay

El turismo es uno de los factores más importantes en la productividad de una economía con significativos efectos multiplicadores la misma. El objetivo de esta investigación es analizar los efectos de la actividad turística sobre el crecimiento económico uruguayo, en particular la actividad turística asociada a los visitantes argentinos, principal origen del turismo en Uruguay, utilizando para ello información trimestral para el período 1987.I-2006.IV. El análisis de cointegración muestra la existencia de una relación de largo plazo entre el PIB per cápita, el gasto de los turistas argentinos y el tipo de cambio bilateral entre Uruguay y Argentina. Por su parte, el test de causalidad a la Granger confirma que la dirección de la causalidad es, precisamente, desde el gasto real de los turistas al PIB per cápit

Regímenes de desempeño económico y dualismo estructural en la dinámica de las entidades federativas de México, 1970 - 2006

This paper describes the dynamics of the economic performance of the sub-national Mexican states from 1970 to 2006; the used state variables are the levels and the growth rates of the GDP per capita. The authors situate his approach in a conceptual and methodological panorama of the existent literature. Starting by the regime concept, the paper introduces a distance notion for to compare the observed paths and the clustering of the economies whose evolution is studied. The analysis shows that have existed two fundamental clusters: one of high and another of low performance, in addition of other transitory groups. In the cluster of high performance increases the number of members while in the cluster of low performance diminishes; at the same time, the article shows that the sub-national states that belong to the first cluster have had performances each time more similar. Also it confirms that the subnational states move starting from the cluster of low performance to arrive to the cluster of high performance and that the distance between both clusters has increased. These facts are interpreted basing in the concept of dual economy proposed by the development theory.economic performance; economic regime; convergence; cluster; development

Causality between Economic Growth and Tourism Expansion: Empirical Evidence from Trentino - Alto Adige

This paper investigates the causal relations between tourism growth, relative prices and economic expansion for the Trentino-Alto Adige/Südtirol, a region of northeast Italy bordering on Switzerland and Austria. Johansen cointegration analysis shows the existence of one cointegrated vector among real GDP, tourism and relative prices where the corresponding elasticities are positive. Tourism and relative prices are weakly exogenous to real GDP. A variation of the Granger Causality test developed by Toda and Yamamoto is performed to reveal the uni-directional causality from tourism to real GDP. Impulse response analysis shows that a shock in tourism expenditure produces a fast positive effect on growth

Estructura jerárquica y dinámica en los mercados cambiarios latinoamericanos

En este trabajo estudiamos la estructura jerárquica y la dinámica de las relaciones existentes entre los tipos de cambio reales en los principales mercados latinoamericanos. Con este fin, introducimos una metodología que combina el análisis de series temporales simbólicas (STSA) de Daw et al. (2003) con el algoritmo de agrupación de asociación al vecino más cercano (nearest neighbor single linkage clustering algorithm, NSLCA; véase Mantegna y Stanley, 2000). A partir de la simbolización de los datos podemos obtener distancias métricas entre series temporales que pueden ser usadas para construir un árbol de expansión mínima (MST), y distancias ultramétricas que permiten construir un árbol jerárquico (HT). Estos árboles permiten detectar conexiones dinámicas y organización jerárquica de los mercados cambiarios de Latinoamerica a partir de la construcción de distintos grupos de acuerdo a su proximidad.</p

The Tourism-led Growth Hypothesis: Empirical Evidence from Colombia

The purpose of this study is to investigate the contribution of tourism to economic growth in Colombia. First, we perform an ex-post analysis and quantify the contribution of the tourism to economic growth from the early 90’s until 2006 by disaggregating growth of real GDP per capita into economic growth generated by tourism and by other industries. Second, we analyze if international tourism is a strategic factor for long-run economic growth for Colombia. This believes that tourism can cause long-run economic growth it is known in the literature as the tourism-led growth hypothesis. The hypothesis is tested empirically by using the cointegration test by Johansen and the Granger Causality test. We find empirical evidence for one cointegrated vector among real GDP per capita, Colombian tourism expenditures and real exchange rates, where the latter two variables are weakly exogenous to the model. The Granger causality test suggests that causality in this model goes from tourism expenditures to real GDP per capita