610. Crisi, desigualtat i anàlisi econòmica, 1910-2015: alguns instruments de l’economia clàssica

Manera, Carles; Navinés, Ferran; Franconetti, Javier; Pérez-Montiel, Jose

doi:10.1344/sn2019.23.21645

Cited by 3 publications

(5 citation statements)

References 2 publications

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“…The case of Macau is not unique; in fact, another relevant conclusion is that island economies are the ones with the greatest TII. In this regard, the present study follows the lines marked in a previous one [36], in which it was also determined that the highest tourism densities in the world were found in archipelagos and, specifically, in the Cayman Islands, British Virgin Islands, and the Balearic Islands.…”

Section: Discussionsupporting

confidence: 80%

“…In no case is significant demographic pressure visible. The classification demonstrates the relevance of the Caribbean as a key area in global tourism intensity, a reality that describes its nature of island economies [36,55].…”

Section: Countries With a Low Tourism Intensity Indexmentioning

confidence: 96%

“…Tourism is one of the most important and dynamic economic activities of our days, recording remarkable growth since the immediate post-war period. The progression of the number of tourists between 1950 and 2018 is striking [36,[39][40][41]. The perspective of economic history points towards a loss of tourism strength in Europe and America as destinations.…”

Section: Tourism An Industry In Expansionmentioning

confidence: 99%

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Tourist Intensity in the World, 1995–2015: Two Measurement Proposals

Manera

Valle

2018

Sustainability

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The work emphasizes the importance of measuring the tourist intensity of the economies that are oriented to tourism activity, with the aim of avoiding subjective arguments and being more related to perception than with the empirical contrast of the data. A tourist intensity index is proposed, which is made up of four essential variables: GDP, tourist spending, population, and the number of tourists. However, at the same time, it is complemented by a measure of tourist density, which helps to better understand the proposed index. This allows for the classification of countries according to the resulting index, and to calibrate their position in the set of tourist economies. This can be very useful for the application of economic policies aimed at correcting externalities that are generated in the advanced development of mass tourism.

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Section: Discussionsupporting

confidence: 80%

Section: Countries With a Low Tourism Intensity Indexmentioning

confidence: 96%

Section: Tourism An Industry In Expansionmentioning

confidence: 99%

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Tourist Intensity in the World, 1995–2015: Two Measurement Proposals

Manera

Valle

2018

Sustainability

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“…In fact, in the long run, the degree of capacity utilization that companies tend to carry out is that which leaves them satisfied. This is empirically recognized by Corrado and Mattey (1997), Manera et al (2019), and Gahn & González (2020), among others. However, Nikiforos (2016Nikiforos ( , 2020 states that capacity utilization is not stationary.…”

Section: Multiplier-accelerator Models As a Useful Tool To Model The ...mentioning

confidence: 83%

A Harrodian Model that fits the Tourism-led Growth Hypothesis for Tourism-based Economies

Pérez-Montiel¹,

Asenjo²,

Erbina³

2021

EJTR

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The tourism-led growth hypothesis (TLGH) has been the subject of hundreds of investigations. However, most of these investigations have limited themselves to empirically verify a dynamic relationship between tourism receipts and economic activity, leaving aside the theoretical background or the baseline economic growth model on which the TLGH could be built. With this in mind, the authors present a multiplier-accelerator growth model and state that it is a good option to analyze the TLGH. This model fits the TLGH, since its long-run equilibrium positions are analogous to the TLGH. However, multiplier-accelerator growth models generally suffer from dynamic instability. Therefore, the authors propose a model with an investment function that, by relating the acceleration of investment just to the “permanent” increases in demand, is able to replicate the “relative stability” of growth of tourism-based economies.

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“…Another empirical regularity observed in developed economies is the decreasing trend of the profit rate over the last sixty years. Recent works, such as Basu et al (2022), Manera et al (2019bManera et al ( , 2022, and Lapavitsas (2013), assert that this decrease in the profit rate is mainly explained by the fall of the output-capital ratio (GDP/K), which we will refer to as capital productivity (Manera et al 2019a;Manera et al 2022b). However, which has been the leading cause of the decrease in capital productivity?…”

Section: Introductionmentioning

confidence: 97%

Critical globalisation: Productive capacity and capital productivity in the United States, 1945–2020

Pérez-Montiel,

Manera,

Navinés

et al. 2023

Econ. labour relat. rev.

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We study the dynamics of the profit rate of United States (US) non-financial resident firms between 1945 and 2020. The 1970s entailed the abandonment of industrial policy and the liberalisation and globalisation of markets. This left the US-resident productive sector at the mercy of an unstoppable growth of imports. These imports helped to contain inflation but cornered the US domestic market, which negatively affected the profit rate of non-financial resident firms. The increasing foreign competition forced US-resident firms to invest and increase their productive capacity. Such increasing productive capacity demanded higher market shares; however, US-resident firms continued to lose domestic and foreign markets. This explains the fall in the degree of productive capacity utilisation, capital productivity, and ultimately, the rate of profit since the 1980s.

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610. Crisi, desigualtat i anàlisi econòmica, 1910-2015: alguns instruments de l’economia clàssica

Cited by 3 publications

References 2 publications

Tourist Intensity in the World, 1995–2015: Two Measurement Proposals

Tourist Intensity in the World, 1995–2015: Two Measurement Proposals

A Harrodian Model that fits the Tourism-led Growth Hypothesis for Tourism-based Economies

Critical globalisation: Productive capacity and capital productivity in the United States, 1945–2020

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