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on Tourism Economics |
| By: | Chia-Lin Chang; Michael McAleer (University of Canterbury); Christine Lim |
| Abstract: | This paper estimates the effects of short and long haul volatility (or risk) in monthly Japanese tourist arrivals to Taiwan and New Zealand, respectively. In order to model appropriately the volatilities of international tourist arrivals, we use symmetric and asymmetric conditional volatility models that are commonly used in financial econometrics, namely the GARCH (1,1), GJR (1,1) and EGARCH (1,1) models. The data series are for the period January 1997 to December 2007. The volatility estimates for the monthly growth in Japanese tourists to New Zealand and Taiwan are different, and indicate that the former has an asymmetric effect on risk from positive and negative shocks of equal magnitude, while the latter has no asymmetric effect. Moreover, there is a leverage effect in the monthly growth rate of Japanese tourists to New Zealand, whereby negative shocks increase volatility but positive shocks of similar magnitude decrease volatility. These empirical results seem to be similar to a wide range of financial stock market prices, so that the models used in financial economics, and hence the issues related to risk and leverage effects, are also applicable to international tourism flows. |
| Keywords: | Tourist arrivals, risk; conditional volatility; asymmetric effect; leverage |
| JEL: | C22 G32 L83 |
| Date: | 2010–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:cbt:econwp:10/40&r=tur |
| By: | Eva Conraud Koellner; Luis Arturo Rivas Tovar |
| Abstract: | Este artículo analiza la cultura nacional en México mediante los modelos de Hofstede y de relaciones personales de Trompenaars y compara los valores culturales entre los países de mayor comportamiento verde en el mundo. Si bien, los resultados son coincidentes en cuanto a que la cultura mexicana es claramente tradicional y colectivista, y que presenta los niveles más bajos de comportamiento verde, en los últimos años se percibe una evolución que hace relevante emprender campañas de marketing ambiental en medios masivos de comunicación. ABSTRACT: This article analyzes the national culture in Mexico by the models of Hofstede and Trompenaars personal relationships and compares the cultural values of most countries in the world green behavior. While the findings are consistent in that Mexican culture is clearly traditional, collectivist, and presents the lower levels of green behavior, in the last year there was an evolution that makes relevant environmental undertake marketing campaigns in mass media communication. |
| Date: | 2010–06–23 |
| URL: | http://d.repec.org/n?u=RePEc:col:000385:007142&r=tur |