Public holidays, tourism, and economic growth

Franco Barrera and Nicolás Garrido
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Franco Barrera: Universidad Tecnológica de Chile INACAP, Chile

Tourism Economics, 2018, vol. 24, issue 4, 473-485

Abstract: 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.

Keywords: economic growth; evolutionary model; public holidays (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:24:y:2018:i:4:p:473-485

DOI: 10.1177/1354816617749340

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