Chapter 7 Kaldor’s income distribution and tourism specialization: evidence from selected countries

The issue of income distribution linked to specialization can be viewed from various angles, but a formal analysis inevitably abstracts from details and tries to capture the most relevant aspects of the issue at hand. A Kaldorian hypothesis about income distribution and specialization put forward in this paper is one of the alternative perspectives. The main hypothetical conjecture in this paper is that tourism leads to profit-led growth in economies. In an open economy that is fully specialized in providing tourism services to foreigners that sector is often the main instrument of economic growth. Many studies have found that most countries are wage-led domestically and that the larger economies (including the US and the EU as a whole) are wage led overall, while some smaller or more open economies (including some individual EU members) are profit led once foreign trade is taken into account (e.g., Onaran and Galanis 2013). Thus, the primary focus of this paper is to observe the contributions from the use of basic production factors, labour and capital in the aggregate output, which is based on the calculation at the end of the fiscal year and on realised income, as well as to measure the impact of tourism development in this regard.

• Tipo de recurso: Book
• Fecha de publicación: 2019
• Institución: Universidad de Bogotá Jorge Tadeo Lozano
• Repositorio: Expeditio: repositorio UTadeo
• Idioma: eng
• OAI Identifier: oai:expeditiorepositorio.utadeo.edu.co:20.500.12010/17008
• Acceso en línea: https://content.sciendo.com/view/book/9783110628548/10.2478/9783110628548-008.xml; http://hdl.handle.net/20.500.12010/17008; https://doi.org/10.2478/9783110628548-008
• Palabra clave: Turismo; Economía abierta; Servicios turísticos; Desarrollo turístico
• License: Abierto (Texto Completo)