Examining the behaviour of visitor arrivals to Australia from twenty different countries : an application of panel unit root tests

Narayan, Paresh Kumar and Prasad, Arti 2008, Examining the behaviour of visitor arrivals to Australia from twenty different countries : an application of panel unit root tests, Economic papers, vol. 27, no. 3, pp. 265-271.

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Title Examining the behaviour of visitor arrivals to Australia from twenty different countries : an application of panel unit root tests
Author(s) Narayan, Paresh Kumar
Prasad, Arti
Journal name Economic papers
Volume number 27
Issue number 3
Start page 265
End page 271
Publisher Economic Society of Australia
Place of publication Sydney, N.S.W.
Publication date 2008-09
ISSN 0812-0439
Keyword(s) Australia
visitor arrivals
unit root hypothesis
panel unit
root test
Summary Testing for the behaviour of visitor arrivals has important implications for policy, for if visitor arrivals are stationary processes then it implies that shocks to visitor arrivals are transitory. However, if visitor arrivals are found to be characterised by a unit root then this implies that shocks to visitor arrivals are permanent. In this paper we provide the first evidence on the unit root hypothesis for visitor arrivals to Australia using a suite of recently developed panel unit root tests. Our main finding is that visitor arrivals to Australia from twenty tourist source markets and from the G7 markets are mean reverting. implying that any shocks will have only a transitory effect. However; visitor arrivals from eight Asian countries are characterised by a unit root. implying that shocks will have a permanent effect on this market.
Language eng
Field of Research 140305 Time-Series Analysis
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2008
Copyright notice ©2008, The Economic Socirty of Australia
Persistent URL http://hdl.handle.net/10536/DRO/DU:30017891

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