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Impact of Exchange Rate Changes on Asian Tourism Consumption: New Evidence from a Panel Smooth Transition Model

机译:汇率变动对亚洲旅游消费的影响:面板平滑过渡模型的新证据

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Growing Asian international tourism has been significant and helpful for economic improvement in the 21st century. It is argued that the decision regarding destination choice for international tourists would be influenced by the exchange rates among origin and destination countries over time. This paper applies the panel smooth transition regression (PSTR) model to examine the asymmetric effects of exchange rate on international tourism consumption in eight Asian countries by using monthly data over the period of January 2001- July 2007. Empirical results have shown dynamic nature of log-difference exchange rate on log-difference of international tourism. There are growth rate adjustments of international tourist arrivals to exchange rate growth within 0.35%~0.64%. Currency of destination country appreciated relatively to currency of origin country is harmful to the international tourism business in destination country and vice versa.
机译:日益增长的亚洲国际旅游业对21世纪的经济发展具有重要意义和帮助。有人认为,关于国际游客目的地选择的决定会受到原籍国和目的地国之间汇率随时间变化的影响。本文采用面板平滑过渡回归(PSTR)模型,通过使用2001年1月至2007年7月期间的月度数据来检验汇率对八个亚洲国家国际旅游消费的不对称影响。实证结果表明,对数的动态性质汇率对国际旅游对数差异的影响。国际游客人数的增长率在0.35%〜0.64%之间进行汇率调整。相对于原产国货币升值的目的地国货币对目的地国的国际旅游业务有害,反之亦然。

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