Examining the behaviour of visitor arrivals to Australia from 28 different countries

Narayan, Paresh Kumar 2008, Examining the behaviour of visitor arrivals to Australia from 28 different countries, Transportation research, Part A : policy and practice, vol. 42, no. 5, pp. 751-761.

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Title Examining the behaviour of visitor arrivals to Australia from 28 different countries
Author(s) Narayan, Paresh Kumar
Journal name Transportation research, Part A : policy and practice
Volume number 42
Issue number 5
Start page 751
End page 761
Publisher Elsevier
Place of publication Amsterdam, The Netherlands
Publication date 2008-06
ISSN 0965-8564
1879-2375
Keyword(s) Australia
visitor arrivals
univariate and panel lagrange multiplier unit root tests
Summary Testing the integrational properties of visitor arrivals has important implications for policy, for if visitor arrivals are integrated of order one (nonstationary) then it implies that shocks to visitor arrivals are permanent. However, if visitor arrivals are found to be integrated or order zero (stationary) then this implies that shocks to visitor arrivals are temporary. In this paper we examine whether visitor arrivals to Australia are stationary or nonstationary, using the recently developed univariate and panel Lagrange multiplier tests, and the Im, Pesaran and Shin [Im, K.S., Pesaran, M.H., Shin, Y., 1997. Testing for Unit Roots in Heterogeneous Panels. Manuscript, Department of Applied Economics, University of Cambridge; Im, K.S., Pesaran, M.H., Shin, Y., 2003. Testing for Unit Roots in Heterogeneous Panels. Journal of Econometrics, 115, 53–74] panel t-test. Our exercise involves Australia’s 28 tourist source markets. Our main findings are: (1) that visitor arrivals to Australia from 28 tourist source markets are stationary, implying that any shock will have only a temporary effect and (2) the second structural break, which mainly coincides with the September 11 terrorist attacks and the Asian financial crisis, has slowed down the growth rate in visitor arrivals to Australia from 22 out of 28 (79%) of the tourism source markets.
Language eng
Field of Research 140217 Transport Economics
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2008
Copyright notice ©2008, Elsevier
Persistent URL http://hdl.handle.net/10536/DRO/DU:30017253

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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