GDP volatility implication of tourism volatility in South Africa
A time-varying approach
Datos Bibliográficos
| ID | 21689720 |
|---|---|
| Autores | Chien-Chiang Lee (0000-0003-0037-4347, Nanchang University), Godwin Olasehinde‐Williams (0000-0002-3710-6146, Nanchang University, autor de correspondencia), Godwin O Olasehinde-Williams (Nanchang University), Ifedolapo Olabisi Olanipekun (0000-0002-9292-8740, Adeyemi College of Education, Nigeria) |
| Año | 2022 |
| Volumen | 28 |
| Número | 2 |
| Páginas | 435-450 |
| Fecha de publicación | 2022-03-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | Tourism Economics (JOURNAL) |
| Identificadores de la revista | ISSN: 1354-8166 • E-ISSN: 2044-0375 |
| Editorial | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/1354816620970001 |
| OpenAlex | W3095833682 |
| Idioma | EN |
| Citas recibidas | 5 |
| Referencias citadas | 46 |
The importance of tourism as one of the bedrocks of economic growth in South Africa suggests that volatility in the sector may have dire consequences. We therefore empirically analyse the impact of tourism volatility (TV) on the gross domestic product (GDP) volatility of the country, using time-varying approaches that treat the parameter estimations as functions of time, thereby overcoming the challenge posed by parameter instabilities, non-linearities, non-stationarity, regime shifts and time variations. We find that TV significantly aggravates GDP volatility (GDPV) in South Africa. The impact varies from year to year and is greatest during the periods characterized by economic turbulence and crime and violence against foreigners. The size of the coefficients has been on a steady increase over time, reflecting the growing importance of tourism and TV to the South African economy. We also find that TV is a significant predictor of GDPV in the country. We strongly recommend that policymakers pay serious attention to economic happenings around the world since TV is one of the channels through which global economic crises affect the South African economy. We also recommend that the minimization of crime and social disorder should form an essential component of tourism development and promotion strategy in South Africa
Development economics · Econometrics · Economics · Geography · Gross domestic product · Macroeconomics · Monetary economics · Real gross domestic product · Tourism · Diverse Aspects of Tourism Research · Energy, Environment, Economic Growth · Market Dynamics and Volatility
How do environmental taxes influence the effect of tourism on environmental performance? Evidence from EU countries
Do volatilities in tourism arrivals and foreign aids matter for GDP volatility in Cambodia? Partial and vector coherence wavelet models
Travel for health as a type of niche tourism and economic growth
Revisiting the nexus between tourism and GDP for Cambodia
A time-varying behavioral economic model for dynamic hotel demand analysis
A test for independence based on the correlation dimension
Computation and analysis of multiple structural change models
A New Approach to Linear Filtering and Prediction Problems
Geopolitical risk and tourism
Why You Should Never Use the Hodrick-Prescott Filter
Democracy, Volatility, and Economic Development
Analysis of the impact of tourism sector as a viable response to South Africa’s growth and development challenges
Is the domestic tourism cycle synchronized with the economic cycle? Evidence from Mainland China and Taiwan
Tourism demand for Italy and the business cycle
Tourism development and economic growth
The relevance of business cycles in forecasting international tourist arrivals
An empirical analysis of the influence of macroeconomic determinants on World tourism demand
Local tourism cycle and external business cycle
Confidence Intervals for Tourism Demand Elasticity
Nonlinear and time-varying growth-tourism causality
Resort economy and direct economic linkages
| Obras citantes distintas | 5 |
|---|---|
| Citas por año | 1,67 |
| Intervalo de citas | 2023 - 2026 (4) |
| Velocidad de citación | current |
| Altamente citado | No |
| Tipos de cita | Neutras: 5 |