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dc.contributor.authorJiechen Tangen_US
dc.contributor.authorSongsak Sriboonchittaen_US
dc.contributor.authorVicente Ramosen_US
dc.contributor.authorWing Keung Wongen_US
dc.description.abstract© 2014 Taylor & Francis. This paper investigates dependence between tourism demand and exchange rate, using the case of China, and from a new perspective by using copula–GARCH models. The empirical results show that the volatility of exchange rate is not a determinant factor in fluctuation of China’s inbound tourism demand from the countries being studied. Furthermore, only Russia exhibits risk-adverse behaviour with extreme SUR depreciation, or CNY appreciation associated with an extreme decline in arrivals. Third, introducing the tail dependence and dynamic dependence between growth rates of tourism demand and exchange rate add much to the explanatory ability of the model. The findings of this study have important implications for destination manager and travel agent as it helps to understand the impact of exchange rates on China inbound tourism demand and provide a complementary academic approach on evaluating the role of exchange rates in the international tourism demand model.en_US
dc.subjectBusiness, Management and Accountingen_US
dc.subjectSocial Sciencesen_US
dc.titleModelling dependence between tourism demand and exchange rate using the copula-based GARCH modelen_US
article.title.sourcetitleCurrent Issues in Tourismen_US
article.volume19en_US Mai Universityen_US de les Illes Balearsen_US Kong Baptist Universityen_US
Appears in Collections:CMUL: Journal Articles

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