Oil Price, Economic Policy Uncertainty and Tourism Development: Evidence from China

Yuyao Feng; Xiaolei Sun; Guowen Li

doi:10.1016/j.procs.2022.11.212

Oil Price, Economic Policy Uncertainty and Tourism Development: Evidence from China

Yuyao Feng
, Xiaolei Sun
, Guowen Li^*

^*Corresponding author for this work

University of Chinese Academy of Sciences
CAS - Institutes of Science and Development
Central University of Finance and Economics

Research output: Contribution to journal › Conference article › peer-review

5 Scopus citations

Abstract

This paper examines the impact of oil price and economic policy uncertainty on China's tourism market. We point out the shortcomings of previous works considering only one factor, and prove the necessity of considering both factors at the same time. The results show that the impacts of oil price and economic policy uncertainty on China's tourism market overlap significantly, their net impact is mainly concentrated in the medium-term and long-term, respectively, and it can explain the significant variation found in China's tourism stock indexes when they are considered simultaneously. Furthermore, among subsectors, hotels are more sensitive to economic policy uncertainty, and scenic spots are most affected by oil price.

Original language	English
Pages (from-to)	560-564
Number of pages	5
Journal	Procedia Computer Science
Volume	214
Issue number	C
DOIs	https://doi.org/10.1016/j.procs.2022.11.212
State	Published - 2022
Externally published	Yes
Event	9th International Conference on Information Technology and Quantitative Management, ITQM 2022 - Beijing, China Duration: 9 Dec 2022 → 11 Dec 2022

Keywords

Economic policy uncertainty
Oil price
Time-varying effect
Tourism stock index
Wavelet coherence

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10.1016/j.procs.2022.11.212

Cite this

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title = "Oil Price, Economic Policy Uncertainty and Tourism Development: Evidence from China",

abstract = "This paper examines the impact of oil price and economic policy uncertainty on China's tourism market. We point out the shortcomings of previous works considering only one factor, and prove the necessity of considering both factors at the same time. The results show that the impacts of oil price and economic policy uncertainty on China's tourism market overlap significantly, their net impact is mainly concentrated in the medium-term and long-term, respectively, and it can explain the significant variation found in China's tourism stock indexes when they are considered simultaneously. Furthermore, among subsectors, hotels are more sensitive to economic policy uncertainty, and scenic spots are most affected by oil price.",

keywords = "Economic policy uncertainty, Oil price, Time-varying effect, Tourism stock index, Wavelet coherence",

author = "Yuyao Feng and Xiaolei Sun and Guowen Li",

note = "Publisher Copyright: {\textcopyright} 2022 The Authors. Published by Elsevier B.V.; 9th International Conference on Information Technology and Quantitative Management, ITQM 2022 ; Conference date: 09-12-2022 Through 11-12-2022",

year = "2022",

doi = "10.1016/j.procs.2022.11.212",

language = "英语",

volume = "214",

pages = "560--564",

journal = "Procedia Computer Science",

issn = "1877-0509",

publisher = "Elsevier B.V.",

number = "C",

}

TY - JOUR

T1 - Oil Price, Economic Policy Uncertainty and Tourism Development

T2 - 9th International Conference on Information Technology and Quantitative Management, ITQM 2022

AU - Feng, Yuyao

AU - Sun, Xiaolei

AU - Li, Guowen

PY - 2022

Y1 - 2022

N2 - This paper examines the impact of oil price and economic policy uncertainty on China's tourism market. We point out the shortcomings of previous works considering only one factor, and prove the necessity of considering both factors at the same time. The results show that the impacts of oil price and economic policy uncertainty on China's tourism market overlap significantly, their net impact is mainly concentrated in the medium-term and long-term, respectively, and it can explain the significant variation found in China's tourism stock indexes when they are considered simultaneously. Furthermore, among subsectors, hotels are more sensitive to economic policy uncertainty, and scenic spots are most affected by oil price.

AB - This paper examines the impact of oil price and economic policy uncertainty on China's tourism market. We point out the shortcomings of previous works considering only one factor, and prove the necessity of considering both factors at the same time. The results show that the impacts of oil price and economic policy uncertainty on China's tourism market overlap significantly, their net impact is mainly concentrated in the medium-term and long-term, respectively, and it can explain the significant variation found in China's tourism stock indexes when they are considered simultaneously. Furthermore, among subsectors, hotels are more sensitive to economic policy uncertainty, and scenic spots are most affected by oil price.

KW - Economic policy uncertainty

KW - Oil price

KW - Time-varying effect

KW - Tourism stock index

KW - Wavelet coherence

UR - https://www.scopus.com/pages/publications/85146115575

U2 - 10.1016/j.procs.2022.11.212

DO - 10.1016/j.procs.2022.11.212

M3 - 会议文章

AN - SCOPUS:85146115575

SN - 1877-0509

VL - 214

SP - 560

EP - 564

JO - Procedia Computer Science

JF - Procedia Computer Science

IS - C

Y2 - 9 December 2022 through 11 December 2022

ER -

Oil Price, Economic Policy Uncertainty and Tourism Development: Evidence from China

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Keywords

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