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Public holidays, tourism, and economic growth

Author

Listed:
  • Franco Barrera

    (Universidad Tecnológica de Chile INACAP, Chile)

  • Nicolás Garrido

    (Universidad Diego Portales, Chile)

Abstract

In this article, a mechanism supporting the existence of an inverted u-shaped relation between the number of public holidays and the growth of an economy is presented. The nonlinear relationship is originated by two forces within a Schumpeterian economy: On the one hand, as the number of public holidays grows, the total number of workers searching for innovation increases; on the other hand, as the number of days of recreation increases, the number of working days producing innovations decreases. The combination of these two forces generates the inverted u-shaped relationship. The hypothesized mechanism suggests the existence of an optimal number of public holidays for an economy.

Suggested Citation

  • Franco Barrera & Nicolás Garrido, 2018. "Public holidays, tourism, and economic growth," Tourism Economics, , vol. 24(4), pages 473-485, June.
    • Handle: RePEc:sae:toueco:v:24:y:2018:i:4:p:473-485
    DOI: 10.1177/1354816617749340
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    References listed on IDEAS

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    Cited by:

    1. Chu, Angus C. & Liao, Chih-Hsing & Xu, Rongxin & Chen, Ping-Ho, 2024. "Dynamic effects of tourism shocks on innovation in an open-economy Schumpeterian growth model," Economic Modelling, Elsevier, vol. 131(C).
    2. Naradda Gamage, Sisira Kumara & Kumudumali, S. H. T. & Otamurodov, Shavkat, 2020. "The Nexus between Tourism and Economic Growth: A Systematic Literature Review and Future Research Directions," MPRA Paper 104086, University Library of Munich, Germany.
    3. Pengfei Wang & Xiang Wei & Diancheng Hu & Fang Meng, 2022. "Does Leisure Contribute to the Improvement of Individual Job Performance? A Field Tracking Study Based on the Chinese Manufacturing Industry," Sustainability, MDPI, vol. 14(11), pages 1-17, May.

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