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題名: Welfare effects of tourism-driven Dutch disease: The roles of international borrowings and factor intensity
作者: 陳平河
賴景昌
Chen, Ping-ho
Lai, Ching-chong
Chud, Hsun
貢獻者: 經濟系
日期: 2016-07
上傳時間: 2017-08-08 16:40:05 (UTC+8)
摘要: This paper develops a two-sector dynamic general equilibrium model to analyze the welfare implications of the Dutch disease induced by the demand shock arising from a tourism boom. Compared with the existing literature, we introduce two new elements, namely, international borrowings and the relative factor-intensiveness, and examine their interplay with the welfare effects of the Dutch disease. We show that (i) when the household can freely borrow from the world financial market, the Dutch disease will not affect welfare; (ii) when the economy is closed to the world financial market, the Dutch disease is beneficial (harmful) to the residents' welfare if the tourism good sector is capital-intensive (labor-intensive). Moreover, this paper provides a simulation analysis to examine the welfare effect of both the steady-state and the transitional responses arising from a tourism boom. © 2016 Elsevier Inc.
關聯: International Review of Economics and Finance, Volume 44, Pages 381-394
資料類型: article
DOI 連結: http://dx.doi.org/10.1016/j.iref.2016.02.004
顯示於類別:[經濟學系] 期刊論文

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