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Gong, Y, Chang, CH, Lee, PTW, Yin, J and Shi, W (2024) Unveiling the mystery of the responsiveness of inbound tourism to economic policy uncertainty: New evidence from Australia. Tourism Economics. pp. 1-22. ISSN 1354-8166
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Unveiling the mystery of the responsiveness of inbound tourism to economic policy uncertainty New evidence from Australia.pdf - Published Version Available under License Creative Commons Attribution Non-commercial. Download (2MB) | Preview |
Abstract
Using a time-varying parameter vector autoregressive (TVP-VAR) model, this study analyzes how inbound tourist arrivals (TOUR) respond to EPU in Australia. Empirical results show that EPU can Granger cause TOUR in most cases before COVID-19, whereas little evidence supports this finding after the pandemic. At the national level, it is found that EPU was the net risk transmitter before COVID-19 but became the net risk receiver after COVID-19, while TOUR was the net risk receiver over March 2007-March 2020 but became the net risk transmitter in the remaining months. The impulse response functions reflect that a 2.81% decline in the total TOUR was observed due to a 1% increase in EPU, which gradually decayed within 9 months for the sub-sample before COVID-19. Similar findings hold at the state/territory level. These findings provide profound evidence for the national and state/territory governments to allocate tourism resources and formulate supportive tourism policies.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | 1402 Applied Economics; 1503 Business and Management; 1506 Tourism; Sport, Leisure & Tourism |
| Subjects: | T Technology > TA Engineering (General). Civil engineering (General) G Geography. Anthropology. Recreation > G Geography (General) > G149 Travel. Voyages and travels (General) > G154.9 Travel and state. Tourism |
| Divisions: | Engineering |
| Publisher: | SAGE Publications |
| SWORD Depositor: | A Symplectic |
| Date Deposited: | 03 Sep 2024 10:29 |
| Last Modified: | 03 Sep 2024 10:30 |
| DOI or ID number: | 10.1177/13548166241256993 |
| URI: | https://researchonline.ljmu.ac.uk/id/eprint/24073 |
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