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Economic crises and tourism competitiveness: A Markov swtiching regression approach

Author

Listed:
  • José Perles

    (Department of Applied Economic Analyisis. University of Alicante)

  • Ana Ramón

    (Department of Applied Economic Analyisis. University of Alicante)

  • Antonio Rubia

    (Department of Financial Economics and Accounting)

Abstract

Authors discuss the effects that economic crises generate on the global market shares of tourism destinations, through a series of potential transmission mechanisms based on the main economic competitiveness determinants identified in the previous literature using a non-linear approach. Specifically a Markov Switching Regression approach is used to estimate the effect of two basic transmission mechanisms: reductions of internal and external tourism demands and falling investment.

Suggested Citation

  • José Perles & Ana Ramón & Antonio Rubia, 2015. "Economic crises and tourism competitiveness: A Markov swtiching regression approach," Economics Bulletin, AccessEcon, vol. 35(3), pages 1906-1915.
    • Handle: RePEc:ebl:ecbull:eb-15-00154
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2015/Volume35/EB-15-V35-I3-P194.pdf
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    References listed on IDEAS

    as
    1. Bruce E. Hansen, 2000. "Sample Splitting and Threshold Estimation," Econometrica, Econometric Society, vol. 68(3), pages 575-604, May.
    2. Hamilton, James D, 1989. "A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle," Econometrica, Econometric Society, vol. 57(2), pages 357-384, March.
    3. Hamilton, James D., 1990. "Analysis of time series subject to changes in regime," Journal of Econometrics, Elsevier, vol. 45(1-2), pages 39-70.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Ann-Ni Soh & Chin-Hong Puah & Meng-Chang Jong, 2022. "Macroeconomic Determinants of Tourism Demand in Malaysia: A Markov Switching Regression Approach," Business Management and Strategy, Macrothink Institute, vol. 13(2), pages 95-107, December.

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    More about this item

    Keywords

    Economic crisis; Tourism destination competitiveness; Permanent shocks; Markov Switching Models;
    All these keywords.

    JEL classification:

    • L8 - Industrial Organization - - Industry Studies: Services
    • F0 - International Economics - - General

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