Public holidays, tourism, and economic growth

• Franco Barrera ^[2] ; Nicolás Garrido ^[1]
  1. [1] Universidad Diego Portales

     Universidad Diego Portales

     Santiago, Chile

     
  2. [2] Universidad Tecnologica de Chile INACAP, Chile
• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 24, Nº. 4, 2018, págs. 473-485
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • 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.