Financial development,economic growth and convergence clubs

To study the role of financial development in economic growth, we apply an array of convergence tests designed to capture nonlinear transitional dynamics to real outputs per capita. Strong evidence of multiple convergence clubs is observed, implying that the clubs are formed based on the initial level of real output per capita and average growth rate. Our empirical results show that the stage of economic growth of each country plays an important role for the composition of the convergence clubs. Furthermore, financial development emerges to be a significant determinant, albeit plays differently in the economic growth of each convergence club.     

The sustainable integration of cultural heritage and tourism: a meta-study

This paper presents a cross-disciplinary thematic investigation into the relationship between cultural heritage and tourism. It systematizes evidence on concepts, policies and strategies and provides an interpretive synthesis illuminating the factors deemed critical by researchers for the sustainable integration of heritage and tourism. It seeks to find consilience to lead to a “new age of synthesis”. After an extensive literature review, 483 studies were selected and reviewed, assisted by a qualitative data analysis software (NVivo). The research followed the meta-synthesis approach, particularly meta-ethnography, of identifying findings, grouping findings into categories and grouping categories into synthesized findings, to produce a representative set of 15 synthesis factors. These include local involvement, education and training, authenticity and interpretation, sustainability-centered tourism management, integrated planning, incorporation into a wider sustainable development framework, controlled growth, governance and stakeholder participation, market and product diversification, suitable funding provision, international governance and support systems, a heritage capital approach, effective site management, destination management and a sound theoretical/methodological base. These 15 factors are suggested as the fundamental components of a more efficient theoretical frame and evidence-based policy in the fields of cultural heritage and tourism, aimed at achieving sustainability.