Business cycle and external dependence on tourism

2016 ◽  
Vol 23 (1) ◽  
pp. 187-199 ◽  
Author(s):  
José María López Morales ◽  
María Jesús Such Devesa
Keyword(s):  
Economic Growth ◽  
Business Cycle ◽  
Spanish Economy ◽  
Analysis Methodology ◽  
External Contribution ◽  
International Demand ◽  
Cyclical Behaviour ◽  
Tourism Destinations ◽  
External Dependence

Tourism is among the most important activities in the Spanish economy, with Spain being one of the most significant tourism destinations worldwide. The external contribution of the international demand for tourism in Spain is a factor that must be taken into account, particularly when assessing the cyclical behaviour of tourism activities and therefore the contribution made by this sector to the overall economy. For this reason, the article examines the evolution of tourism in Spain during recent years, its contribution to economic growth and its level of external dependence using an analysis methodology which examines the cyclicality of the demand for the economy and the primary components of tourism.

Forming Sources of Long-run Growth: How to Understand Them?

2014 ◽  
pp. 4-20 ◽  
Author(s):  
G. Idrisov ◽  
S. Sinelnikov-Murylev
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Policy ◽  
Business Cycle ◽  
Capital Markets ◽  
Productivity Growth ◽  
Government Spending ◽  
Long Run ◽  
Accelerate Growth ◽  
Budget Institutions

The paper analyzes the inconsequence and problems of Russian economic policy to accelerate economic growth. The authors consider three components of growth rate (potential, Russian business cycle and world business cycle components) and conclude that in order to pursue an effective economic policy to accelerate growth, it has to be addressed to the potential (long-run) growth component. The main ingredients of this policy are government spending restructuring and budget institutions reform, labor and capital markets reforms, productivity growth.

Government spending shocks and economic growth: additional evidence from cyclical behavior of fiscal policy

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Olumide Olusegun Olaoye ◽  
Ukafor Ukafor Okorie ◽  
Oluwatosin Odunayo Eluwole ◽  
Mahmood Butt Fawwad
Keyword(s):  
Economic Growth ◽  
Business Cycle ◽  
Government Spending ◽  
Generalized Method Of Moments ◽  
The State ◽  
Fiscal Policies ◽  
Asymmetric Effect ◽  
Content Type ◽  
Spending Shocks ◽  
The Business Cycle

PurposeThis study examines the asymmetric effect of government spending on economic growth in Nigeria over the period 1980–2017. Specifically, this study investigates whether the response of economic growth to government spending shocks differs according to the nature of shocks on them. In addition, the authors examine whether the stabilizing effects of fiscal policies are dependent on the state of the business cycle.Design/methodology/approachThe study adopts the linear fiscal reaction function in addition to the nonlinear regression model of Hatemi-J (2011, 2012), Granger and Yoon (2002), which allows us to separate negative shocks from positive shocks to government spending. Similarly, the authors adopt the generalized method of moments (GMM) techniques of Hansen (1982) to account for simultaneity and endogeneity problems inherent in dynamic model.FindingsThe authors’ findings reveal that there is evidence of asymmetry in the government spending–economic growth nexus in Nigeria over the period of study. Specifically, the authors find that the response of economic growth to government spending shocks differs according to the nature of shocks on them. More specifically, the study established that the stabilizing effects of fiscal policies are dependent on the state of the business cycle.Originality/valueUnlike the traditional method of modeling asymmetry, which adopts the simple inclusion of a squared government spending term or by the inclusion of a cubic government spending term, the model adopted in this study allows us to model shocks and show how the responses of economic growth to government expenditure differ according to the nature of shocks on them.

Politics First: The Economy after Franco

1976 ◽  
Vol 11 (1) ◽  
pp. 84-103 ◽  
Author(s):  
Pedro Schwartz
Keyword(s):  
Economic Growth ◽  
Economic Success ◽  
Spanish Economy ◽  
Social Consensus ◽  
Political Activities ◽  
End Groups ◽  
The Government ◽  
Business Freedom

DURING THE LAST TWENTY YEARS, SPANIARDS HAVE BEEN LED TO concentrate their attention on economic affairs. ‘Enrichissez-vous’ has been the cry of the government to all classes. World prosperity, a modicum of business freedom, some well-timed reforms, a great. deal of enterprising spirit have spelt economic success and an end to persistent underdevelopment.The repression of political activities imposed a political and social consensus conducive to economic growth. However, the time is fast approaching when the enforced political moratorium will come to an end. Groups of varyin ideologies will contend for power. A backlog of problem will have to be attended to. In this article, while avoiding prophecy, I wish to evaluate the foreseeable effect of some of these variables on the Spanish economy after Franco disappears.

Private consumption and sector price behaviour in the Spanish economy: a business cycle approach

2012 ◽  
Vol 19 (9) ◽  
pp. 863-868 ◽  
Author(s):  
José María Martín-Moreno ◽  
Rafaela Pérez ◽  
Jesús Ruíz
Keyword(s):  
Business Cycle ◽  
Private Consumption ◽  
Spanish Economy

From Main Street to Wall Street

2021 ◽  
Author(s):  
Jesper Rangvid
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Business Cycle ◽  
Financial Markets ◽  
Stock Returns ◽  
Economic Activity ◽  
Wall Street ◽  
Business Cycle Fluctuations ◽  
Main Street ◽  
Long Run

From Main Street to Wall Street examines the relation between the economy and the stock market. It discusses the academic theories and empirical facts, and guides readers through the fascinating interaction between economic activity and financial markets. Itexamines what causes long-run economic growth and shorter-term business-cycle fluctuations and analyses their impact on stock markets. From Main Street to Wall Street also discusses how investors can use knowledge of economic activity and financial markets to formulate expectations to future stock returns. The book relies on data, and figures and tables illustrate arguments and theories in intuitive ways.In the end, From Main Street to Wall Street helps academic scholars and practitioners navigate financial markets by understanding the economy.

Long-Run and Business Cycle Factors of the Spanish Economy

2011 ◽  
pp. 1-29
Author(s):  
J. E. Boscá ◽  
A. Díaz ◽  
R. Doménech ◽  
J. Ferri ◽  
E. Pérez ◽  
...  
Keyword(s):  
Business Cycle ◽  
Spanish Economy ◽  
Long Run

Introduction

2021 ◽  
pp. 1-6
Author(s):  
Jesper Rangvid
Keyword(s):  
Economic Growth ◽  
Business Cycle ◽  
Stock Returns ◽  
Economic Activity ◽  
Final Part ◽  
Stylized Facts ◽  
Long Run ◽  
Key Concepts ◽  
The Business Cycle

Chapter 1 contains an overview of the book. Part I introduces key concepts, definitions, and stylized facts regarding long–run economic growth and stock returns.Part II analyses the relation between economic growth and stock returns in the long run. Part III examines the shorter-horizon relation between economic growth and stock returns: the relation over the business cycle. Part IV explains how to make reasonable projections for economic activity, both for the short and the long run. Part V deals with expected future stock returns. The final part, a short one including one chapter only, explains how one can use the insights from the book when making investments.

Prospect of Promoting Sikkim as a Smart Tourism Destination

2022 ◽  
pp. 326-345
Author(s):  
Supriya Dam
Keyword(s):  
Economic Growth ◽  
Smart City ◽  
Financial Support ◽  
The State ◽  
Tourism Destination ◽  
Essential Ingredient ◽  
North Eastern ◽  
Two Cities ◽  
Tourism Destinations ◽  
Smart Tourism

Since 2006, Sikkim progressively switching to a full-fledged tourism-centred state having declared it a predominant industry as an engine for its economic growth. The state accounted for the highest influx of foreign tourists amongst the eight north eastern states of India during the last 20 years or so. The smart city mission was commissioned by government of India as a centrally sponsored scheme destined to provide financial support for the allotted cities to the extent of INR. 100 Crore per city per year spanning over five years. Studies suggest that induction of smart city concept will act as precursor for growth of smart tourism destinations (STDs) across the country. The STD as a concept revolves around “6A's,” an essential ingredient for promoting smart tourism in destinations. Incidentally, two cities in Sikkim have been enlisted amongst the top 100 cities in India for promoting smart city, instrumental in promoting STD in tourism-driven states. The chapter delves into the concept of smart city as an antecedent for promoting STD along with conditions with respect to Sikkim.

Sign in / Sign up

Export Citation Format

Share Document