Vesna Jablanovic – University of Belgrade, Faculty of Agriculture, Nemanjina 6, 11081 Belgrade, Serbia

DOI: https://doi.org/10.31410/EMAN.2021.357


5th International Scientific Conference – EMAN 2021 – Economics and Management: How to Cope With Disrupted Times, Online/Virtual, March 18, 2021, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-43-1, ISSN 2683-4510

Abstract:

International tourism receipts are expenditures by international inbound visitors. These
receipts include payments to national carriers for international transport. The basic aims of this paper
are: firstly, to create a relatively simple chaotic receipts growth model that is capable of generating
stable equilibria, cycles, or chaos, and secondly, to analyze the world receipts growth stability in the
period 1995-2018. This paper confirms the existence of the stable growth path of the world receipts in
the observed period.

Keywords:

Receipts, International tourism, Growth, Stability, Chaos.

REFERENCES

Benhabib, J., & Day, R. H. (1982). Characterization of erratic dynamics in the overlapping generation
model. Journal of Economic Dynamics and Control, 4, 37-55.
Benhabib, J., & Day, R. H. (1981). Rational choice and erratic behaviour. Review of Economic
Studies, 48, 459-471.
Covid -19 and Tourism-ASSESSING THE ECONOMIC CONSEQUENCES 2020, (2020) United
Nations Conference on Trade and Development. https://unctad.org/en/PublicationsLibrary/
ditcinf2020d3_en.pdf
Day, R. H. (1982). Irregular growth cycles. American Economic Review, 72, 406-414.
Day, R. H. (1983). The emergence of chaos from classica economic growth, Quarterly Journal
of Economics, 98, 200-213.
Goodwin, R. M. (1990).Chaotic economic dynamics. Oxford: Clarendon Press.
Grandmont, J. M. (1985). On enodgenous competitive business cycle. Econometrica, 53, 994-1045.
https://data.worldbank.org/indicator/ST.INT.XPND.CD?view=chart
Jablanovic V. (2019) The Chaotic Growth Model of the Total Consumption Vistor Expenditure:
Euro Area. 4th International Thematic Monograph Modern management tools and

of economy of tourism sector in present era, Editor Vuk Bevanda, Sneลพana ล tetiฤ‡, pp.17-31
Association of Economists and Managers of the Balkans in cooperation with the Faculty
of Tourism and Hospitality, Ohrid, Macedonia. ISBN 978-86-80194-29-5 DOI htts://doi.
org./10.31410/tmt.2019
Jablanovic, V. (2016) A Contribution to the Chaotic Economic Growth Theory. Roma: Aracne
editrice S.r.l .
Jablanovic, V. (2018). The Chaotic Growth Model of the International Tourism Receipts: Euro
Area. In Proceedings of Second International Scientific Conference EMAN 2018 Economics
& Management: How to Cope With Disrupted Times (pp. 703-717). Ljubljana
Jablanovic, V.(2013) Elements of Chaotic Microeconomics . Roma: Aracne editrice S.r.l.
Li, T., & Yorke, J. (1975)Period three implies chaos. American Mathematical Monthly, 8, 985-
992.
Lorenz, E. N. (1963). Deterministic nonperiodic flow, Journal of Atmospheric Sciences, 20,
130-141.
Lorenz, H. W. (1993). Nonlinear dynamical economics and chaotic motion (2nd ed.). Heidelberg:
Springer-Verlag.
May, R. M. (1976). Mathematical models with very complicated dynamics. Nature, 261, 459-
467.
Medio, A. (1993). Chaotic dynamics: Theory and applications to economics. Cambridge: Cambridge
University Press.

Download full paper


Share this

Association of Economists and Managers of the Balkans โ€“ UdEkoM Balkan
179 Ustanicka St, 11000 Belgrade, Serbia

https://www.udekom.org.rs/home

Udekom Balkans is a dynamic non-governmental and non-profit organization, established in 2014 with a mission to foster the growth of scientific knowledge within the Balkan region and beyond. Our primary objectives include advancing the fields of management and economics, as well as providing educational resources to our members and the wider public.

Who We Are: Our members include esteemed university professors from various scientific disciplines, postgraduate students, and experts from ministries, public administrations, private and public enterprises, multinational corporations, associations, and similar organizations.

Building Bridges Together: Over the course of nine years since our establishment, the Association of Economists and Managers of the Balkans has established impactful partnerships with more than 1,000 diverse institutions across the Balkan region and worldwide.

EMAN conference publications are licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.