Residents' Support for Tourism Growth in a Mature Destination

Abstract

The study investigated the perceived impacts of tourism on Central Florida's residents and predicted their level of support for the industry's continuous growth. Telephone interviews were conducted with 385 residents in the Central Florida area using a structured questionnaire. The 2001 study results were compared with the findings of a similar study conducted in Central Florida thirteen years earlier. The findings revealed that while a large proportion of the residents favored the presence of tourists in Central Florida, their level of support for their presence was not as eager as it was thirteen years earlier. The transformation in residents' attitudes was explained by Doxey's irritation index model (1975) that justified residents' attitudes at different growth stages of a tourist destination.     

Provincial business cycles and fiscal policy in China

We characterize the cyclical properties of fiscal policy in China along two related dimensions. First, we estimate the sign and size of the fiscal policy multiplier. Second, we assess whether fiscal policy is conducted pro‐ or counter‐cyclically. To account for the challenges posed by China's vast geography, we use data at the provincial level. We find that (i) fiscal policy generally has ‘Keynesian’ effects, and (ii) fiscal policy is mostly conducted pro‐cyclically. This means that fiscal policy is more an element of destabilization than a tool for stabilization.     

金融危机背景下安徽省保投资适度增长问题研究

国际金融危机的冲击导致我国经济增长方式转型加速,经济结构调整形势严峻。安徽经济增长态势风险加剧,投资驱动型经济主导性再次凸显。在客观阐述国际金融危机对安徽省投资增长影响的前提下,深入分析了安徽省保投资增长的一系列政策措施及其社会效应。依据投资增长理论和经济增长均衡理论对进一步推进安徽省保投资适度增长提出了五点对策建议。     

El sistema financiero y su efecto en la dinámica sector privado

In the framework of a closed economy, identical agents, constant returns to scale and introducing a financial market, through a model of endogenous growth the macroeconomic equilibrium is characterized and it is shown that capital distribution is perfect with the existence of an efficient financial market. Nevertheless, the capital distribution is ineffective when the financial market is not efficient, which generates distortions that increase the cost of capital and hence rate of growth decreases. At the same time, a welfare analysis is carried out to verify the impact due to both types of financial markets, an efficient one and an inefficient one.     

Interest rate reforms,financial deepening and economic growth in Tanzania: a dynamic linkage

In this paper we examine the dynamic relationship between interest rate reforms and economic growth in Tanzania using two tests. In the first test, we examine the impact of interest rate reforms on financial deepening using a financial deepening model. In the second test, we examine whether the financial deepening, which results from interest rate reforms, Granger‐causes economic growth – using a trivariate model. The empirical findings of our results reveal that there is a significant positive relationship between interest rate reforms and economic growth in Tanzania. However, the results fail to find any support for finance‐led growth.     

区域金融发展与经济增长的实证研究——以江苏省为例

本文首先说明金融部门促进经济增长的内在机制的内生增长模型。在实证研究部分,本文改变以往研究中使用国际通用指标的做法,针对我国经济转型和银行主导金融体系的特点,使用了符合实际的经济增长指标和金融发展指标。在考虑变量的平稳性之后,模型通过了自相关检验,最后,由格兰杰检验来探讨金融发展与经济增长的因果关系,结果表明金融发展与经济增长之间存在双向因果关系。     

中国当代城市经济理论研究的沿革与发展

城市经济是国民经济的重要领域,对城市经济理论的研究,中国当代学者始终没有停下脚步,尤其是改革开放以来,开展了精彩而深刻的探索,取得了大量的成果。本文旨在梳理、揭示和反映中国当代城市经济理论研究的波澜壮阔的历程。     

需求要素拉动经济增长省际差异性分析

在中国不同省区市,需求要素拉动经济增长作用的程度不尽相同。文章着重研究影响需求要素拉动经济增长作用发挥的主要因素,运用因子分析、聚类分析和回归分析后得出以下基本结论:整体上看,消费拉动和科技促进因子是需求拉动经济增长作用发挥的最大影响者,其次为外需拉动因子、政府干预因子和市场发育因子。在东部省区,消费拉动和科技促进因子、外需拉动因子的影响作用更为显著,而中西部地区政府干预因子影响作用则更加明显。由于需求要素拉动经济增长的省际差异性,因而其政策含义也不相同。     

Globalization of Chinese firms,location choice,and socio-cultural milieu

For a number of years, the bulk of Chinese outward foreign direct investment was found in countries with lower technological development and minimal management capabilities. Recent research and preliminary data have shown a swift shift in outward foreign direct investment allocation by Chinese multinational enterprises to OECD countries. We argue that the main reasons for this shift are: location strategy, firm-specific resources, new government policy, and socio-cultural milieu. This paper examines the factors which influence Chinese manufacturers' decisions to invest in OECD countries. We integrate the resource-based view, institutional view, and economic view to explain the propensity of Chinese manufacturing firm investment. We contribute to Chinese investment decision and foreign direct investment location theory by incorporating these three views.     

Oil Crisis,Market Reforms,and Human Welfare： An Econometric Analysis of the Australian Economy

As an active trader in international crude oil and petroleum product markets, Australia＇s human welfare is affected by oil crisis and contagion from the perspectives of economic growth, income inequality, and environmental sustainability. This paper investigates the impacts of oil price shocks upon Australia＇s gross domestic product （GDP） growth, Gini coefficients, and carbon dioxide emissions per capita from 1970 to 2012 with yearly frequency. Hypotheses concerning whether Australia＇s economic immunity against oil crisis is affected after the deregulation of oil market and whether endogenous oil price shocks account for more variations in human welfare than exogenous oil price shocks are tested. The methodologies include a theoretic model and a series of econometric tests. For the short-run dynamics, oil price is integrated into the model both linearly and non-linearly. Oil price shocks are categorized into exogenous and endogenous shocks. The conclusions are that inflated oil prices exert mainly non-linear negative impacts upon human welfare indicators and exogenous shocks induce endogenous shocks through labor price, Consumer Price Index （CPI）, interest rate, and exchange rate. For the long-run equilibrium, non-linear shocks＇ effects decay more slowly than linear shocks and the impacts of endogenous shocks last longer than that of exogenous shocks. Finally, oil market policies are evaluated and proposed.