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Economic Policy Uncertainty and Tourism Nexus Dynamics in the G7 Countries: Further Evidence from the Wavelet Analysis
Wu, Tsung Pao1; Wu, Hung Che2; Wu, Su Tsung3; Wu, Yu Yu4
2020-09-27
Source PublicationTourism Planning and Development
ABS Journal Level2
ISSN2156-8316
Volume18Issue:5Pages:529-546
Abstract

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.

KeywordEconomic Policy Uncertainty Frequency Domains Time Domains Tourism Activities Wavelet Analysis
DOI10.1080/21568316.2020.1825520
URLView the original
Language英語English
WOS Research AreaSocial Sciences - Other Topics
WOS SubjectHospitality, Leisure, Sport & Tourism
WOS IDWOS:000574294200001
PublisherROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD2-4 PARK SQUARE, MILTON PARK, ABINGDON OX14 4RN, OXON, ENGLAND
Scopus ID2-s2.0-85091609430
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Citation statistics
Document TypeJournal article
CollectionFaculty of Business Administration
Affiliation1.School of Accounting and Finance, Beijing Institute of Technology, Zhuhai, Zhuhai City, China
2.Business School, Nanfang College of Sun Yat-Sen University, Guangzhou City, China
3.School of Tourism Management, Sun Yat-Sen University, Guangzhou City, China
4.Faculty of Business Administration, University of Macau, Taipa, Macao
Recommended Citation
GB/T 7714
Wu, Tsung Pao,Wu, Hung Che,Wu, Su Tsung,et al. Economic Policy Uncertainty and Tourism Nexus Dynamics in the G7 Countries: Further Evidence from the Wavelet Analysis[J]. Tourism Planning and Development, 2020, 18(5), 529-546.
APA Wu, Tsung Pao., Wu, Hung Che., Wu, Su Tsung., & Wu, Yu Yu (2020). Economic Policy Uncertainty and Tourism Nexus Dynamics in the G7 Countries: Further Evidence from the Wavelet Analysis. Tourism Planning and Development, 18(5), 529-546.
MLA Wu, Tsung Pao,et al."Economic Policy Uncertainty and Tourism Nexus Dynamics in the G7 Countries: Further Evidence from the Wavelet Analysis".Tourism Planning and Development 18.5(2020):529-546.
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