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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.
Volatility; Economic Growth; Variability; Tourism; Network Approach
Business | Hospitality Administration and Management
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The Tourism Sector and U.S. Regional Macroeconomic Stability: A Network Approach.