European Tourism Sector Development in the Context of Energy Uncertainty

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F24%3A43908040" target="_blank" >RIV/60076658:12510/24:43908040 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.econjournals.com/index.php/ijeep/article/view/15653/7779" target="_blank" >https://www.econjournals.com/index.php/ijeep/article/view/15653/7779</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.32479/ijeep.15653" target="_blank" >10.32479/ijeep.15653</a>

Jazyk výsledku

angličtina

Název v původním jazyce

European Tourism Sector Development in the Context of Energy Uncertainty

Popis výsledku v původním jazyce

The research is a novel to study the impact of energy uncertainty on international tourism receipt in 11 European countries namely Belgium, Croatia, Denmark, France, Germany, Greece, Ireland, Italy, Netherlands, Spain and Sweden due to availability of energy uncertainty index data recently developed by Dang et al. (2023). As econometric tool, we employ a fully modified ordinary least squares (FMOLS) framework and include obtained long-run relations in a panel Vector Error Correction model (VECM). The findings suggest that 1% increase in energy uncertainty leads to 0.08% decrease in international tourism receipt in Europe. Moreover, international tourism receipt reaches the equilibrium with the adjustment speed of 23% annually. Regarding the effect of control variables, economic development has a negative relation whereas CO2 emissions and institutional quality have a positive association with international tourism receipt. As a policy implication, enhancing renewable energy is suggested to cope with energy uncertainty consequences that might affect tourism development.

Název v anglickém jazyce

European Tourism Sector Development in the Context of Energy Uncertainty

Popis výsledku anglicky

The research is a novel to study the impact of energy uncertainty on international tourism receipt in 11 European countries namely Belgium, Croatia, Denmark, France, Germany, Greece, Ireland, Italy, Netherlands, Spain and Sweden due to availability of energy uncertainty index data recently developed by Dang et al. (2023). As econometric tool, we employ a fully modified ordinary least squares (FMOLS) framework and include obtained long-run relations in a panel Vector Error Correction model (VECM). The findings suggest that 1% increase in energy uncertainty leads to 0.08% decrease in international tourism receipt in Europe. Moreover, international tourism receipt reaches the equilibrium with the adjustment speed of 23% annually. Regarding the effect of control variables, economic development has a negative relation whereas CO2 emissions and institutional quality have a positive association with international tourism receipt. As a policy implication, enhancing renewable energy is suggested to cope with energy uncertainty consequences that might affect tourism development.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2024

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Journal of Energy Economics and Policy

ISSN

2146-4553

e-ISSN

2146-4553

Svazek periodika

14

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

TR - Turecká republika

Počet stran výsledku

9

Strana od-do

410-418

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-85188277457