Economic policy uncertainty and tourism: evidence from the heterogeneous panel

Akadırı, Seyi Saint; Alola, Andrew Adewale; Uzuner, Gizem

doi:10.1080/13683500.2019.1687662

Cited by 66 publications

(46 citation statements)

References 28 publications

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“…Thus, we suggest a fear-induced tourism hypothesis for 4 major economies. These findings are consistent with the findings of Dragouni et al (2016), Wachowiak (2016), Akadiri et al (2019), Alola et al (2020), and Bassil et al (2019).…”

Section: Resultssupporting

confidence: 92%

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Tourist arrivals in four major economies: another side of economic policy uncertainty and fear

Uzuner

Akadırı²,

Alola

2020

Environ Sci Pollut Res

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In this paper, we examine the direction of causal relationships among migration-related fear, economic policy uncertainty, tourism, and economic growth in the panel economies of France, Germany, the UK, and the USA. To the best of our knowledge, this study is the first to examine the interaction and interrelationship between these variables in a multivariate causality study, using a quarterly data over the period 1985Q1-2017Q4 via time-series causality approach as advanced by Emirmahmutoglu and Kose (Econ Model 28:870-876, 2011) that produces country-specific causality statistic and also captures slope heterogeneity in panel data. Empirical results show that migration-related fear is linked with EPU, tourism arrivals, and real income. Thus, we suggest fear-induced economic policy uncertainty, fear-induced tourism, and economic policy uncertainty-induced growth hypotheses with credible policy suggestions for tourist destinations.

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Section: Resultssupporting

confidence: 92%

“…However, we found weak one-way causality nexus from EPU to tourism in the USA at p < 0.10 significance level. This result resonates with the findings of Akadiri et al (2019); Saint Akadiri et al (2019); Alola et al (2019aAlola et al ( , 2019b.…”

Section: Resultssupporting

confidence: 91%

Tourist arrivals in four major economies: another side of economic policy uncertainty and fear

Uzuner

Akadırı²,

Alola

2020

Environ Sci Pollut Res

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“…ey found evidence that the US uncertainty has harmful effects on EME stock prices, exchange rates, country spreads, and capital inflows into them. Akadiri et al [51] found evidence of causality between international tourism arrivals (ITAs) and EPU of three regions of America, Europe, and Asia-Pacific using annual frequency panel data that consist of 12 countries in a multivariate Granger causality model setting.…”

Section: Literature Reviewmentioning

confidence: 99%

Economic Policy Uncertainty Linkages among Asian Countries: Evidence from Threshold Cointegration Approach

Osei

Djimatey

Adam

2021

Discrete Dynamics in Nature and Society

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This paper employs the threshold cointegration methodology to assess the long- and short-run dynamics of asymmetric adjustment between economic policy uncertainty (EPU) of China-India, China-Japan, China-Korea, India-Japan, India-Korea, and Japan-Korea pairs using monthly EPU data ranging from January 1997 to April 2020. The relationship between the EPU pairs is examined in terms of Engle-Granger and threshold cointegrations. The findings provide evidence of long-run threshold cointegration and that the adjustments towards the long-run equilibrium position are asymmetric in the short run for the China-India and India-Japan EPU pairs in M-TAR specification with nonzero threshold values. Also, the results suggest a unidirectional causal relationship between China-India, China-Japan, and India-Korea EPU pairs in the long and short run using the spectral frequency domain causality approach. However, a bidirectional causal relationship between China-Korea, India-Japan, and Japan-Korea pairs exists in the long and short run. Therefore, the findings provide some clues to economic policymakers within the Asian subregion for possible policy uncertainty synergies and spillovers among the Asian countries.

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“…For instance, Demiroz and Ongan (2005) and Balli et al (2019) for Turkey; Cortes-Jimenez and Pulina (2010) and Perles-Ribes et al (2017) for Spain; Lean and Tang (2010) for Malaysia; Isik et al (2018) for Germany; Ben Jebli Hadhri (2018) for a sample of top ten tourism countries; Aslan (2014) for Portugal; Dogru and Bulut (2018) for seven Mediterranean countries; Mitra (2019) for 158 countries, dividing into three sub-groups according to the ratio of international tourism receipts to GDP. Akadiri and Akadiri (2019) for 16 selected tourism island countries, Akadiri et al (2020a) for Germany.…”

Section: Tourism and Economic Growthmentioning

confidence: 99%

The Nexus Between Tourism, Environmental Degradation and Economic Growth

Ballı¹

2021

Ege Akademik Bakis (Ege Academic Review)

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This study analyzes the impact of tourism on environmental degradation for 32 OECD countries employing panel estimation techniques taking into consideration cross-sectional dependence. The test results demonstrate that tourism and economic growth enhance CO2 emissions in these countries. The Emirmahmutoglu-Kose panel Granger causality test show that unidirectional association running from tourism to CO2 emissions exists in OECD countries. For individual countries, bidirectional association between tourism and CO2 emissions for Canada, a unidirectional association from tourism to CO2 emissions for Chile, Germany, Ireland, Latvia, and United States exists. Bidirectional relationship is also confirmed between tourist arrivals and GDP for Austria, Germany, and Slovak Republic. Moreover, unidirectional causality is found from tourist arrivals to GDP for Colombia,

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Economic policy uncertainty and tourism: evidence from the heterogeneous panel

Cited by 66 publications

References 28 publications

Tourist arrivals in four major economies: another side of economic policy uncertainty and fear

Tourist arrivals in four major economies: another side of economic policy uncertainty and fear

Economic Policy Uncertainty Linkages among Asian Countries: Evidence from Threshold Cointegration Approach

The Nexus Between Tourism, Environmental Degradation and Economic Growth

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