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The Tourism Sector and U.S. Regional Macroeconomic Stability: A Network Approach

Jihye Min (), Jerome Agrusa (), Joseph Lema () and Harold Lee ()
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Jihye Min: College of Merchandising, Hospitality and Tourism, University of North Texas, Chilton Hall 331, 410 S Avenue C, Denton, TX 76201, USA
Jerome Agrusa: School of Travel Industry Management, Shidler College of Business, University of Hawaii at Manoa, 2560 Campus Rd.—George Hall 346, Honolulu, HI 96822, USA
Joseph Lema: Harrah College of Hospitality, University of Nevada Las Vegas, 4505 S. Maryland Pkwy., Las Vegas, NV 89154, USA
Harold Lee: College of Merchandising, Hospitality and Tourism, University of North Texas, Chilton Hall 331, 410 S Avenue C, Denton, TX 76201, USA

Sustainability, 2020, vol. 12, issue 18, 1-12

Abstract: This study investigates how the structural mix of USA regional economies affects their volatility of economic growth. Four exogenous sectors are chosen for this investigation: Federal Government, construction, manufacturing, and tourism. Perhaps unsurprisingly, evidence suggests that a larger share of Federal Government employment in an economy reduces the variability of overall employment growth, while a larger share of construction activity elevates it. More telling is a finding that, recently, manufacturing has not contributed as much to such variability, and that a larger tourism presence increases it. The increasing integration of technology in tourism offers significant opportunities for a network approach and innovation in regional development.

Keywords: volatility; economic growth; variability; tourism; network approach (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
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