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Tourism, Trade And Wealth Accumulation With Endogenous Income And Wealth Distribution Among Countries

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  • Wei-Bin ZHANG

    (Ritsumeikan Asia Pacific University, Japan)

Abstract

The purpose of this study is to study dynamic interactions among economic growth, structural change, international trade and tourist flows. It builds a multi-country growth model with endogenous wealth accumulation and tourism. The model is unique in that it introduces endogenous tourism within a general dynamic equilibrium framework. The model is built on microeconomic foundations. It not only integrates the three well-known Solow growth model, Oniki-Uzawa trade model, and the Uzawa two-sector model, but also introduces tourist flows between economies for any number of national economies. After building the model, we demonstrate that the motion of the J - country world economy can be described by J differential equations. We also simulate the global economy with three countries, showing that the world dynamics has a unique equilibrium. We carry out comparative dynamic analysis with regard to one country's total productivity factor, the propensity to save, the propensity to tour other countries, and the population.

Suggested Citation

  • Wei-Bin ZHANG, 2015. "Tourism, Trade And Wealth Accumulation With Endogenous Income And Wealth Distribution Among Countries," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 4(1), pages 1-1, January.
    • Handle: RePEc:scm:ecofrm:v:4:y:2015:i:1:p:1
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    References listed on IDEAS

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    Cited by:

    1. Zhang Wei-Bin, 2017. "A Multi-Country Trade and Tourism with Endogenous Capital and Knowledge," Business Systems Research, Sciendo, vol. 8(1), pages 71-91, March.
    2. Sanda Gheorghe Gabriel, 2020. "Some Considerationes About Tourism And The Infrastructure In The Field," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 187-193, October.
    3. Zhang, Wei-Bin, 2020. "Economic Development And International And Interregional Tourism," Economic and Regional Studies (Studia Ekonomiczne i Regionalne), John Paul II University of Applied Sciences in Biala Podlaska, vol. 13(4), December.
    4. Alexandra Georgiana PARASCA & Ionel MUNTELE, 2015. "THE IMPACT OF SAINT PARASCHEVA PILGRIMAGE ON TOURISM IN IASI COUNTY Abstract : Nowadays, pilgrimage is a part of international tourism, being considered religious tourism, because it contributes to th," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 4(2), pages 1-19, july.
    5. Blazeska, Daliborka & Strezovski, Zoran & Milenkovska Klimoska, Angela, 2018. "The Influence Of Tourist Infrastructure On The Tourist Satisfaction In Ohrid," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 9(1), pages 85-93.
    6. Sonja JOVANOVIĆ, & Ivana ILIĆ, 2016. "Infrastructure As Important Determinant Of Tourism Development In The Countries Of Southeast Europe," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(1), pages 1-34, January.
    7. Prof. Wei-Bin Zhang, 2015. "Economic Oscillations in a Multi-Country Growth Model with Free Trade and Tourism," Eurasian Business & Economics Journal, Eurasian Academy Of Sciences, vol. 2(2), pages 1-19, July.

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