Economic Policy Uncertainty and Tourism Nexus Dynamics in the G7 Countries: Further Evidence from the Wavelet Analysis

被引:14
作者
Wu, Tsung-Pao [1 ]
Wu, Hung-Che [2 ]
Wu, Su-Tsung [3 ]
Wu, Yu-Yu [4 ]
机构
[1] Beijing Inst Technol, Sch Accounting & Finance, Zhuhai City, Peoples R China
[2] Sun Yat Sen Univ, Business Sch, Nanfang Coll, Guangzhou, Peoples R China
[3] Sun Yat Sen Univ, Sch Tourism Management, Guangzhou, Peoples R China
[4] Univ Macau, Fac Business Adm, Taipa, Macao, Peoples R China
关键词
Tourism activities; economic policy uncertainty; wavelet analysis; time domains; frequency domains; DECOMPOSITION; EXPENDITURE; COHERENCE; TRANSFORM; INDEXES; CRISIS; US;
D O I
10.1080/21568316.2020.1825520
中图分类号
F [经济];
学科分类号
02 ;
摘要
This study examines the relationship between economic policy uncertainty (EPU) and tourism activities in the Group of Seven countries. The analysis is conducted using continuous wavelets, wavelet coherency and phase-difference based on Granger causality analysis to investigate the relationship between EPU and tourism. Our analyses indicate that the relationship is generally negative but changes over time, displaying low to high-frequency cycles. Moreover, the timing and frequency changes when EPU co-moves with tourism. The results suggest tourism-economic policy uncertainty led-hypothesis and economic policy uncertainty-tourism led hypothesis with worthy policy implications for tourist destinations across the world.
引用
收藏
页码:529 / 546
页数:18
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