Tourism, welfare and real estate market in small open economy: the case of Croatia

Ivo Družić (), Vladimir Čavrak () and Josip Tica
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Ivo Družić: Faculty of Economics and Business, University of Zagreb
Vladimir Čavrak: Faculty of Economics and Business, University of Zagreb

No 707, EFZG Working Papers Series from Faculty of Economics and Business, University of Zagreb

Abstract: The paper investigates effects of the tourism boom on the real estate market in Croatia. According to the general equilibrium models of the tourism intensive small open economy, the most important benefit of the tourism is reflected in the fixed-factors rents, namely real estate market rents. This paper investigates results of the small open tourism intensive economy theoretical model in the case of the transition and EU accession of the Croatian economy. Analysis is focused on the real exchange rate changes in the tourism sector as the main source of welfare improvements and its effects on the fixed-factor prices in Croatia.

Keywords: tourism; real estate; development; EU enlargement; Croatia (search for similar items in EconPapers)
JEL-codes: F2 F21 R2 (search for similar items in EconPapers)
Pages: 12
Date: 2007-05-29
New Economics Papers: this item is included in nep-tra and nep-tur
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:zag:wpaper:0707

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