旅游業(yè)是長(zhǎng)期經(jīng)濟(jì)增長(zhǎng)的因素以西班牙為例外文翻譯

1、<p><b>　　中文2966字</b></p><p>　　本科畢業(yè)論文外文翻譯</p><p>　　外文題目：TOURISM AS LONG-RUN ECONOMIC GROWTH FACTOR:THE SPANISH CASE </p><p>　　出 處：

2、 Primera Edición Junio 2000 Depósito Legal: V-2576-2000 </p><p>　　作 者： Jacint Balaguer and Manuel Cantavella-Jordá

3、 </p><p><b>　　原文：</b></p><p>　　TOURISM AS A LONG-RUN ECONOMIC</p><p>　　GROWTH FACTOR: THE SPANISH CASE</p><p>　　Jacint Balaguer and Manuel Cantavel

4、la-Jordá*</p><p>　　A B S T R A C T</p><p>　　This paper examines the role of tourism in the Spanish long-run economic development. The tourist-led growth hypothesis is tested. The results in

5、dicate that, at least, during the last three decades economic growth in Spain has been sensible to persistent expansion of international tourism. The increase of this activity has produced multiplier effects over time. E

6、xternal competitivity has also been proved in the model to be a fundamental variable for Spanish economic growth in the long run. From </p><p>　　Key words: economic growth, international tourism, multiplier

7、effects</p><p>　　I. INTRODUCTION</p><p>　　A distinctive feature of Spain is its importance as an international tourist destination as well as the relative weight that foreign exchange income ha

8、s in its economy. As a matter of fact, the earnings from tourism have systematically compensated Spanish trade imbalances since the seventies. In view of this situation, the economists have very often taken for granted t

9、hat the inflow of foreign exchange for this concept would stimulate a country’s economic development. Nevertheless, this hypothes</p><p>　　Several decades of tourist expansion in Spain may probably represent

10、 enough time to examine if international tourism growth has significantly contributed to the country´s economic development. The analysis should go beyond its own multiplier effects. Thus, the main objective of this

11、 paper is to asses whether and, if so, to what extent Spanish economic growth responds to the evolution of external tourist activity during the 1975-1997 period. The background on this question is referred to the lite<

12、;/p><p>　　As in the export-led growth hypothesis, a tourist-led growth hypothesis would postulate the existence of various arguments for which tourism would become a main determinant of overall long-run economi

13、c growth. In a more traditional sense it should be argued that tourism brings in foreign exchange which can be used to import capital goods in order to produce goods and services, leading in turn to economic growth. If t

14、hose imports are capital goods or basic inputs for producing goods in any area o</p><p>　　On the other hand, international tourism would contribute to an income increase at least in two additional ways as th

15、e export-led growth hypothesis postulates. In the first place, enhancing efficiency through increased competition among firms and others international tourist destinations (Bhagwati and Srinivasan, 1979; Krueger, 1980),

16、and in the second place, facilitating the exploitation of economies of scale in local firms (Helpman and Krugman,1985).</p><p>　　Taking into account that a large proportion of a tourist's expenditure is

17、spent on the consumption of non-traded goods and services in the host country, there exist factors which can have either a positive role or an unfavourable impact on economic growth. Non-traded goods and services are not

18、 exportables in the traditional sense because their price is not determined in the international market, but in the local market. Obviously, tourists' consumption of non-traded goods and services has a impa</p>

19、<p>　　In the static framework, there are at least two analytical papers which examine the relationship between tourism and welfare where tourists consume non-traded goods and services. In the first paper, Hazari a

20、nd Ng (1993) show that in a monopoly power framework, tourism may be welfare reducing. In the second paper, Hazari and Kaur (1993) argue that in a Komiya (1967) type first-best model, tourism is always welfare improving.

21、</p><p>　　More recently, Hazari and Sgro (1995) developed a dynamic model in which a favourable impact of a buoyant world demand for tourism would have a positive effect on the long-run growth of a small ec

22、onomy. This favourable impact is generated by tourism behaviour as a time-saving device which allows domestic population to consume now rather than later due to the requirement of a lower saving rate.</p><p>

23、;　　The remainder structure of this paper is organised as follows. In section II, a tourism growth model is presented. Section III discusses the employed methodology and results. Section IV provides the main conclusions o

24、f the analysis.</p><p>　　II. MODEL SPECIFICATION AND TIME SERIES ANALYSIS</p><p>　　In order to explain the growth rate of output over long periods one is usually referred to a couple of compleme

25、ntary approaches. One is growth theory, which models the interactions among factor supplies, productivity growth, saving, and investment in the process of growth. The other is growth accounting, which attempts to quanti

26、fy the contribution of different determinants of output growth. Most papers, have been concentrated on the so-called export-led growth hypothesis for both developing and</p><p>　　t=1975Q1…1997Q1</p>&

27、lt;p>　　1975Q1 stands for the first quarter of 1975; analogously for 1997Q1.</p><p>　　Since Y, TOUSA and q are expressed in natural logarithms, the coefficients of the last two variables are elasticities;

28、 Y is real gross domestic product; TOUSA is international tourism earnings in real terms, q is the real effective exchange rate; u is the error term which represents omitted factors left out by the deterministic part

29、of the model (see Appendix for more details about variables).</p><p>　　Before the long-run relationship between tourism and growth in Spain can be determined it is important to carry out a univariate analysi

30、s. Testing stationarity of time series leads to the implementation of the econometric model using the appropriate methodology. The stationarity of the series was investigated by employing the unit root tests developed by

31、 Dickey and Fuller (1979, 1981), and Phillips and Perron (1988).</p><p>　　III. METHODOLOGY AND RESULTS</p><p>　　Both λMAX and Trace tests suggest that there is a cointegrating relationship. It

32、indicates that tourism positively affects Spanish economic growth over time. These results show that single-equation estimation for an increase in tourism can capture the long-run relationship. The existing correlation b

33、etween economic growth and foreign exchange income from tourism is not spurious.</p><p>　　From the estimates one can infer that the presence of multiplier effects on income are really important. The interpr

34、etation of the elasticity of economic growth with respect to tourism should read as follows: a 5 per cent of a sustained growth rate in foreign exchange earnings from tourism would imply an estimated increase of almost 1

35、.5 percent domestic real income in the long run. This is a significant fact since tourism in Spain has never represented, so far, more than 5 per cent of overall S</p><p>　　As in most of empirical research a

36、bout the influence of exports in the economic growth, the external competition has a relevant role when analysing a possible long-run relationship. Therefore, the estimate of the corresponding elasticity would indicate t

37、hat in general, an increase of the Spanish economy competitivity with regard to industrialized countries would have had significant effects on its economic growth rate in the last three decades.</p><p>　　In

38、order to examine the robustness of the above results one is referred to Table 4 which reports the outcomes of the parameter restriction tests for economic growth, tourism and exchange rate variables. The restriction is t

39、hat each coefficient of the corresponding variables is zero. This hypothesis is rejected for Y, TOUSA and q. Therefore, all variables are significant at 5 per cent significance level. It should be noted, then, that the c

40、ombination of those three variables in the model is impor</p><p>　　IV. CONCLUDING REMARKS</p><p>　　As in the export-led growth literature the relationship between economic growth and internatio

41、nal tourism has been examined. Since the variables included in the model are non-stationary and present a unit root, the Johansen technique has been applied. This methodology has allowed to obtain a cointegrating relatio

42、nship among the variables. These variables represent indicators of Spanish economic growth, international tourism income and external competitivity. The cointegration results provide ev</p><p>　　As expected,

43、 the earnings from international tourism affect positively the Spanish economic growth. The strong impact of tourist activity, according to the magnitude of the estimated parameter would reveal the existence of important

44、 long-run multiplier effects.These results would support the main predictions made by those models which treat tourism as both a non-traded good and a service. Contrary to what the traditional export-led growth literatur

45、e predicts, tourism-led growth is not specific o</p><p>　　In addition to this, the convergence of those two variables (income and tourism earnings) is sustained by the inclusion of external competitivity. Th

46、is variable has been proved to be also fundamental in the rapid growth of the Spanish economy over time.</p><p>　　Finally, the significant impact of tourism on the Spanish economy justifies the necessity of

47、public intervention aimed to, on the one hand, promote and increase international tourism demand and on the other hand provide and foster the development of tourism supply .At the same time, a warning on possible dangers

48、 derived from underestimating the importance of expenditure in tourist infrastructure, undervaluing financial support toward the efforts of entrepreneurial initiative and minimising the s</p><p><b>　　譯

49、 文：</b></p><p>　　旅游業(yè)是長(zhǎng)期經(jīng)濟(jì)增長(zhǎng)的因素：以西班牙為例</p><p><b>　　摘要</b></p><p>　　本文探討了旅游業(yè)對(duì)西班牙長(zhǎng)期經(jīng)濟(jì)發(fā)展的作用。對(duì)旅游帶動(dòng)經(jīng)濟(jì)增長(zhǎng)這個(gè)假設(shè)進(jìn)行驗(yàn)證。結(jié)果表明，至少，在過去的三十年里，西班牙的經(jīng)濟(jì)增長(zhǎng)與國(guó)際旅游業(yè)的持續(xù)增長(zhǎng)有著密切的關(guān)系。隨著時(shí)間的推移，乘數(shù)效

50、應(yīng)也伴隨著旅游這項(xiàng)活動(dòng)的增加而產(chǎn)生。該模型也證明外部競(jìng)爭(zhēng)力也是影響西班牙經(jīng)濟(jì)長(zhǎng)期增長(zhǎng)的基本變量。從實(shí)證分析可以推斷，政府的政策充分的用于推廣旅游活動(dòng)，也可能會(huì)帶來可觀的收入。</p><p>　　關(guān)鍵詞：經(jīng)濟(jì)增長(zhǎng)，國(guó)際旅游，乘數(shù)效應(yīng)</p><p><b>　　一、引言</b></p><p>　　西班牙的一個(gè)顯著特點(diǎn)是，它是國(guó)際旅游者經(jīng)常選擇

51、的目的地，因此，外匯收入在其經(jīng)濟(jì)中占很重要的位置。事實(shí)上，七十年代以來，旅游收入一直是補(bǔ)償西班牙貿(mào)易失衡的關(guān)鍵部分。由于這種情況，經(jīng)濟(jì)學(xué)家們往往會(huì)理所當(dāng)然的認(rèn)為，外匯流入將刺激一個(gè)國(guó)家的經(jīng)濟(jì)發(fā)展。不過，這種假設(shè)還沒有被驗(yàn)證過，因此對(duì)這一情況進(jìn)行實(shí)證分析，看旅游收入隨著時(shí)間的推移是否對(duì)經(jīng)濟(jì)有著長(zhǎng)期的顯著作用，會(huì)是大家感興趣的。</p><p>　　西班牙旅游擴(kuò)張的幾十年，就給了我們足夠的時(shí)間來考察國(guó)際旅游業(yè)的發(fā)展是

52、否大大促進(jìn)了該國(guó)的經(jīng)濟(jì)發(fā)展。這一分析需要在其乘數(shù)效應(yīng)下進(jìn)行。因此，本文的主要目標(biāo)是驗(yàn)證1975-1997年期間，旅游業(yè)與西班牙經(jīng)濟(jì)增長(zhǎng)是否有關(guān)，以及外部旅游活動(dòng)在何種程度上作用于西班牙的經(jīng)濟(jì)增長(zhǎng)。關(guān)于這個(gè)問題的研究背景是相關(guān)文獻(xiàn)中提到的出口帶動(dòng)增長(zhǎng)的假設(shè)，以及，近來一些關(guān)于描述非商品貿(mào)易如旅游業(yè)的理論模型的文獻(xiàn)。</p><p>　　就如同在出口導(dǎo)向型增長(zhǎng)假說，旅游帶動(dòng)增長(zhǎng)的假說中，假設(shè)存在各種參數(shù)的情況下旅游業(yè)

53、將會(huì)成為經(jīng)濟(jì)整體長(zhǎng)期增長(zhǎng)的主要決定因素。更傳統(tǒng)的觀點(diǎn)是這樣旅游業(yè)帶來的外匯收入可用來進(jìn)口資本物品，用以生產(chǎn)商品和服務(wù)，從而帶動(dòng)經(jīng)濟(jì)增長(zhǎng)。如果這些進(jìn)口的資本物品或基本投入，用于任何經(jīng)濟(jì)領(lǐng)域的商品生產(chǎn)，那么，可以說旅游收入在經(jīng)濟(jì)發(fā)展中起基礎(chǔ)性作用。顯然，旅游業(yè)外的其他領(lǐng)域也會(huì)在國(guó)家分配中受益。</p><p>　　另一方面，出口導(dǎo)向型增長(zhǎng)假說，假設(shè)至少有兩個(gè)方法使國(guó)際旅游業(yè)有利于增加一國(guó)收入。第一，通過加強(qiáng)企業(yè)間，以

54、及與其他國(guó)際旅游目的地間的競(jìng)爭(zhēng)力(Bhagwati and Srinivasan, 1979; Krueger, 1980)。第二，促進(jìn)本地企業(yè)發(fā)展規(guī)模經(jīng)濟(jì)(Helpman and Krugman, 1985)。</p><p>　　考慮到旅游開支的很大部分，是在東道國(guó)非貿(mào)易商品和服務(wù)上的消費(fèi)，這里就存在一定因素，可能會(huì)對(duì)東道國(guó)產(chǎn)生積極影響也有可能產(chǎn)生不利影響。在傳統(tǒng)的意義上，非貿(mào)易商品和服務(wù)并非用于出口，所以，

55、他們的價(jià)格不是由國(guó)際市場(chǎng)決定的而是由國(guó)內(nèi)市場(chǎng)所決定的。顯然，游客對(duì)非貿(mào)易商品和服務(wù)的消費(fèi)會(huì)對(duì)其價(jià)格產(chǎn)生影響，從而可能會(huì)影響到國(guó)內(nèi)消費(fèi)這的消費(fèi)。</p><p>　　在靜態(tài)框架內(nèi)，至少有兩篇分析文獻(xiàn)，是關(guān)于檢驗(yàn)游客消費(fèi)非貿(mào)易商品和服務(wù)中旅游業(yè)和福利之間的關(guān)系的。在第一篇文獻(xiàn)中，Hazari and Ng (1993)表明，在壟斷框架下，旅游業(yè)可能導(dǎo)致福利的減少。在第二篇文獻(xiàn)中，Hazari and Kaur (19

56、93)認(rèn)為，在Komiya (1967)類型的第一個(gè)最佳模型中，旅游業(yè)總能帶來福利的改善。</p><p>　　近期，Hazari and Sgro (1995)建立了一個(gè)動(dòng)態(tài)模型，在這個(gè)模型中旅游的世界性需求浮動(dòng)會(huì)對(duì)小型經(jīng)濟(jì)的長(zhǎng)期發(fā)展積極的影響。這種有利的影響是由于對(duì)更低節(jié)省率的需求，而旅游行為作為一種節(jié)省時(shí)間的方式，可以允許當(dāng)?shù)厝丝诋?dāng)前消費(fèi)而不是以后。</p><p>　　本文的其余部

57、分的結(jié)構(gòu)安排如下。第二部分，建立旅游經(jīng)濟(jì)增長(zhǎng)模型。第三部分討論模型采用的方法以及結(jié)果。第四部分則是表明分析的主要結(jié)論。</p><p>　　二、模型說明和時(shí)間序列分析</p><p>　　為了解釋長(zhǎng)期產(chǎn)出的增長(zhǎng)速度，常會(huì)用到兩個(gè)方法。一個(gè)是增長(zhǎng)理論，它把增長(zhǎng)過程中要素供給、技術(shù)進(jìn)步、儲(chǔ)蓄和投資的互動(dòng)關(guān)系模型化。另一個(gè)是增長(zhǎng)核算，他試圖把產(chǎn)量增長(zhǎng)的不同決定因素的貢獻(xiàn)程度數(shù)量化。大多數(shù)的文獻(xiàn)，

58、將所謂的出口導(dǎo)向型增長(zhǎng)假說同時(shí)運(yùn)用在發(fā)展中國(guó)家和工業(yè)化國(guó)家。但是，本文的主要目標(biāo)，正如前面都提到的，是分析旅游在西班牙這個(gè)發(fā)展中國(guó)家的中的地位角色。先假設(shè)，旅游是西班牙經(jīng)濟(jì)的長(zhǎng)期增長(zhǎng)的重大的決定因素，然后，進(jìn)行驗(yàn)證。模型包括國(guó)內(nèi)生產(chǎn)總值，旅游收入和匯率。以西班牙是一個(gè)小的經(jīng)濟(jì)開放國(guó)為假設(shè)的基礎(chǔ)，這些變量是至少的，更多的變量也將考慮進(jìn)來。以下是計(jì)量公式：</p><p>　　t=1975Q1…1997Q1</

59、p><p>　　1975Q1代表1975年第一季度；類似的1997Q1代表1997第一季度。</p><p>　　為了消除異方差，將Y，TOUSA和q取自然對(duì)數(shù)，分別代表國(guó)內(nèi)生產(chǎn)總值，實(shí)際國(guó)際旅游收入和匯率；u為隨機(jī)誤差項(xiàng)。</p><p>　　在確定旅游業(yè)對(duì)西班牙經(jīng)濟(jì)是否存在長(zhǎng)期增長(zhǎng)關(guān)系前，可以對(duì)其進(jìn)行單因素分析。時(shí)間序列的平穩(wěn)性檢驗(yàn)是經(jīng)濟(jì)經(jīng)濟(jì)模型常采用的方法。Dic

60、key和 Fuller (1979, 1981), Phillips 和Perron (1988)，對(duì)這一系列平穩(wěn)性數(shù)據(jù)進(jìn)行進(jìn)一步研究，引入了單位根檢驗(yàn)。</p><p><b>　　方法和結(jié)果</b></p><p>　　最大特征值檢驗(yàn)和跟蹤測(cè)試檢驗(yàn)都證明存在協(xié)整關(guān)系。這表明，旅游業(yè)隨著時(shí)間的推移對(duì)西班牙的經(jīng)濟(jì)增長(zhǎng)有著積極正面的影響。這些結(jié)果表明，單方程估計(jì)可證明旅

61、游業(yè)與經(jīng)濟(jì)增長(zhǎng)存在長(zhǎng)期關(guān)系。經(jīng)濟(jì)增長(zhǎng)與旅游業(yè)帶來的外匯收入相關(guān)也是真的。</p><p>　　從估計(jì)可以推斷出，乘數(shù)效益的存在對(duì)收入的影響是非常重要的。關(guān)于在經(jīng)濟(jì)增長(zhǎng)方面的彈性解釋，旅游業(yè)方面應(yīng)該如下所示：從長(zhǎng)期看，從旅游業(yè)中所得到的外匯收入每增長(zhǎng)五個(gè)百分點(diǎn)就意味著國(guó)內(nèi)實(shí)際收入增加一點(diǎn)五個(gè)百分點(diǎn)。這是一個(gè)重要的事實(shí)，到目前為止，西班牙旅游業(yè)收入從沒出現(xiàn)過超過西班牙總收入的百分之五。</p><

62、p>　　正如許多關(guān)于出口對(duì)經(jīng)濟(jì)增長(zhǎng)的實(shí)證研究一樣，在分析可能存在的長(zhǎng)期關(guān)系時(shí)，相關(guān)外部競(jìng)爭(zhēng)力也起相應(yīng)的作用。因此，一般情況下相應(yīng)的彈性估計(jì)表明：在過去的三十年，作為工業(yè)化國(guó)家，西班牙經(jīng)濟(jì)競(jìng)爭(zhēng)力的提高對(duì)其經(jīng)濟(jì)增長(zhǎng)速度的加快有著重要的影響。</p><p>　　為了證實(shí)以上結(jié)果的可靠性，請(qǐng)參考表4，旅游業(yè)收入和外匯變量參數(shù)限制性測(cè)試結(jié)果。這種限制是限定每個(gè)相應(yīng)的變量參數(shù)為零。這個(gè)假設(shè)是對(duì)Y, TOUSA和Q的拒

63、絕。因此，所以變量都對(duì)證明百分之五這個(gè)顯著性水平意義重大。應(yīng)當(dāng)指出的，該模型的三個(gè)變量的結(jié)合，對(duì)于獲得可靠的長(zhǎng)期關(guān)系非常重要。外部競(jìng)爭(zhēng)（Q）對(duì)西班牙經(jīng)濟(jì)增長(zhǎng)，存在長(zhǎng)期持續(xù)的影響。事實(shí)上，當(dāng)這個(gè)變量被排除的話，經(jīng)濟(jì)增長(zhǎng)和旅游業(yè)之間不存在協(xié)整關(guān)系。</p><p><b>　　結(jié)論</b></p><p>　　已經(jīng)對(duì)經(jīng)濟(jì)增長(zhǎng)和國(guó)際旅游業(yè)之間關(guān)系進(jìn)行了檢驗(yàn)。運(yùn)用Johans

64、en 技術(shù)排除了自變量在模型中的非平穩(wěn)性和單位根。這種方法使變量間保持協(xié)整性關(guān)系，這些變量代表了西班牙的經(jīng)濟(jì)增長(zhǎng)，國(guó)際旅游收入和外部競(jìng)爭(zhēng)力。協(xié)整性檢驗(yàn)證明變量之間存在獨(dú)特的協(xié)整性關(guān)系。所以，它的估計(jì)解釋是簡(jiǎn)單的。分析表明，經(jīng)濟(jì)增長(zhǎng)與旅游業(yè)的發(fā)展之間存在著長(zhǎng)期穩(wěn)定關(guān)系。</p><p>　　正如之前所料，國(guó)際旅游收入對(duì)西班牙經(jīng)濟(jì)增長(zhǎng)有著積極地作用。根據(jù)規(guī)模估計(jì)參數(shù)，旅游活動(dòng)的重要影響也顯示了它存在重要的長(zhǎng)期乘數(shù)效應(yīng)

65、。這些結(jié)果支持了建立模型之前的預(yù)測(cè)，將旅游業(yè)視為非一般貿(mào)易商品和服務(wù)。與預(yù)測(cè)傳統(tǒng)的出口導(dǎo)向增長(zhǎng)的相關(guān)文獻(xiàn)相反，旅游帶動(dòng)增長(zhǎng)在發(fā)展中國(guó)家不是具體的，它所帶來的外匯收入是某些經(jīng)濟(jì)部門存在競(jìng)爭(zhēng)優(yōu)勢(shì)的基礎(chǔ)。將更廣泛的影響歸結(jié)為旅游活動(dòng)。它影響到大部分的第三產(chǎn)業(yè)部門以及非耐用品的消防部門。另一方面，似乎這樣可能會(huì)產(chǎn)生以下影響，國(guó)內(nèi)價(jià)格增加帶來的福利減少超過了全國(guó)整體福利補(bǔ)償?shù)姆e極作用(Hazari and Ng,1993)。</p>

66、<p>　　除了這一點(diǎn)，這兩個(gè)變量的收斂性（國(guó)內(nèi)生產(chǎn)總值和旅游業(yè)收入）是靠外部競(jìng)爭(zhēng)力所持續(xù)的。這個(gè)變量被證明在西班牙經(jīng)濟(jì)的長(zhǎng)期快速增長(zhǎng)中也起至關(guān)重要的作用。</p><p>　　最后，旅游業(yè)對(duì)西班牙經(jīng)濟(jì)的重要影響證明了公共干預(yù)的必要性，一方面，促進(jìn)和加強(qiáng)國(guó)際旅游需求，另一方面，提供和促進(jìn)旅游業(yè)的供給的發(fā)展。與此同時(shí)，對(duì)旅游基礎(chǔ)設(shè)施開支重要性估計(jì)不足，低估財(cái)政對(duì)創(chuàng)業(yè)主動(dòng)性的支持，以及對(duì)保護(hù)自然和社會(huì)文化