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Analysis of Economic Policy Uncertainty and Air Transport on Tourism Demand.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Analysis of Economic Policy Uncertainty and Air Transport on Tourism Demand./
Author:	Kuok, U. Kei.
Description:	1 online resource (202 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-04, Section: A.
Contained By:	Dissertations Abstracts International85-04A.
Subject:	Asian studies. -
Online resource:	click for full text (PQDT)
ISBN:	9798380413244

Analysis of Economic Policy Uncertainty and Air Transport on Tourism Demand.
Kuok, U. Kei.

Analysis of Economic Policy Uncertainty and Air Transport on Tourism Demand. - 1 online resource (202 pages)

Source: Dissertations Abstracts International, Volume: 85-04, Section: A.

Thesis (Ph.D.)--University of Macau, 2023.

Includes bibliographical references

The first study empirically examines how EPU emanating from a large country like China may influence inbound and outbound tourism in other countries. Using the Global Vector Autoregressive (GVAR) model, the study finds the modeled effects of EPU are dependent on the level of internationalization, and type of trade-weights used. Notably, the results show the "decline-rebound-overshoot" effect of EPU shock on tourism demand, and capture the link between capital flight and outbound travel from China in times of surge in EPU. This research highlights that GVAR is able to capture previously unobserved empirical insights because assessing the international impact of shocks such as economic crises, pandemics, and political instability necessitates accounting for cross-sectional interdependence in tourism flows between many countries.In the second study, we provide a theoretical case for the inclusions of airfare, flight frequency, and their interaction in a given tourism demand model. Using the System Generalized Method of Moments (System GMM) model, we empirically analyze how direct air services affect international tourism demand of Australia. From the tourist perspective, airfare is considered a monetary cost, whereas flight frequency is associated with the degree of schedule (in)convenience and thus, a temporal cost. Empirically, this study finds that tourists' responsiveness to airfare is conditional on the schedule (in)convenience of direct air services, and vice versa. Data permitting, the findings emphasize the need to disentangle the effects of different air transport attributes in tourism demand modeling.Furthermore, a cointegration analysis for air transport accessibility and international tourism demand is conducted in the third study. Previous tourism demand cointegration studies employ the conventional Autoregressive Distributed Lag (ARDL) model that does not account for cross-sectional dependence in residuals. This can lead to inconsistent estimates, but the problem can be ameliorated with the use of Cross-Sectionally augmented ARDL (CS-ARDL) model. The main implication of the empirical results is that improving air transport accessibility is important for facilitating the tourism development of destination.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798380413244Subjects--Topical Terms:

1179577
Asian studies.
Subjects--Index Terms:

Air transportIndex Terms--Genre/Form:

554714
Electronic books.

Analysis of Economic Policy Uncertainty and Air Transport on Tourism Demand.
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504 $a Includes bibliographical references
520 $a The first study empirically examines how EPU emanating from a large country like China may influence inbound and outbound tourism in other countries. Using the Global Vector Autoregressive (GVAR) model, the study finds the modeled effects of EPU are dependent on the level of internationalization, and type of trade-weights used. Notably, the results show the "decline-rebound-overshoot" effect of EPU shock on tourism demand, and capture the link between capital flight and outbound travel from China in times of surge in EPU. This research highlights that GVAR is able to capture previously unobserved empirical insights because assessing the international impact of shocks such as economic crises, pandemics, and political instability necessitates accounting for cross-sectional interdependence in tourism flows between many countries.In the second study, we provide a theoretical case for the inclusions of airfare, flight frequency, and their interaction in a given tourism demand model. Using the System Generalized Method of Moments (System GMM) model, we empirically analyze how direct air services affect international tourism demand of Australia. From the tourist perspective, airfare is considered a monetary cost, whereas flight frequency is associated with the degree of schedule (in)convenience and thus, a temporal cost. Empirically, this study finds that tourists' responsiveness to airfare is conditional on the schedule (in)convenience of direct air services, and vice versa. Data permitting, the findings emphasize the need to disentangle the effects of different air transport attributes in tourism demand modeling.Furthermore, a cointegration analysis for air transport accessibility and international tourism demand is conducted in the third study. Previous tourism demand cointegration studies employ the conventional Autoregressive Distributed Lag (ARDL) model that does not account for cross-sectional dependence in residuals. This can lead to inconsistent estimates, but the problem can be ameliorated with the use of Cross-Sectionally augmented ARDL (CS-ARDL) model. The main implication of the empirical results is that improving air transport accessibility is important for facilitating the tourism development of destination.
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