Nexus of tourism, terrorism, and economic growth in Thailand: new evidence from asymmetric ARDL cointegration approach

Fareed, Zeeshan; Meo, Muhammad Saeed; Zulfiqar, Bushra; Shahzad, Farrukh; Wang, Nianyong

doi:10.1080/10941665.2018.1528289

Cited by 76 publications

(56 citation statements)

References 70 publications

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“…tÀ1 ; Re À tÀ1 ; Nre þ tÀ1 ; Nre À tÀ1 ; Ta þ tÀ1 ; and Ta À tÀ1 respectively, as followed by (Fareed et al, 2018).…”

Section: Re þmentioning

confidence: 99%

“…We may apply the ARDL model when all variables are merely stationary at I(0), or I(1) or a mixture of I(1) and I(0). This model, however, has one limitation that the ARDL model will be unable to proceed with I(2) series (Fareed et al., 2018). Hence, we checked the variables’ stationarity to avoid inaccurate findings.…”

Section: Estimation Approach and Datamentioning

confidence: 99%

“…We explore the asymmetric effect of renewable, non-renewable, and terrorism on economic growth. (Fareed et al, 2018) the specific long-term asymmetric equation (3) of production function is as follows…”

Section: Estimation Approach and Datamentioning

confidence: 99%

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Asymmetric impact of renewable and non-renewable energy on economic growth in Pakistan: New evidence from a nonlinear analysis

Abbasi

Jiao

Khan

et al. 2020

Energy Exploration & Exploitation

105

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This paper explores the asymmetric relationship between renewable energy consumption, non-renewable energy, and terrorism on economic growth of Pakistan. We applied a novel econometric cointegration method known as a nonlinear autoregressive distributed lag modeling (NARDL). Our empirical findings indicate that positive and negative changes have a significant long-run asymmetric relationship between renewable energy, and terrorism on economic growth. We also found a negative and significant effect of non-renewable energy consumption on economic growth. To keep our environment clean and free of emissions, the study specifies policies that rely on renewable energy sources to boost economic growth. However, reduces terrorism has a positive impact on economic growth in the long-run and shows as an influential tool to combat terrorism in Pakistan. These novel results will help policy-makers and government officials to understand better the role of renewable energy and economic growth in Pakistan's development.

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“…tÀ1 ; Re À tÀ1 ; Nre þ tÀ1 ; Nre À tÀ1 ; Ta þ tÀ1 ; and Ta À tÀ1 respectively, as followed by (Fareed et al, 2018).…”

Section: Re þmentioning

confidence: 99%

Section: Estimation Approach and Datamentioning

confidence: 99%

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Asymmetric impact of renewable and non-renewable energy on economic growth in Pakistan: New evidence from a nonlinear analysis

Abbasi

Jiao

Khan

et al. 2020

Energy Exploration & Exploitation

105

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“…Fareed et al suggested that sudden insecurity has a significant impact on tourist demand, as it is associated with destruction, death, and tragedy [34]. Mendiratta argued that the increasing frequency and severity of natural and man-made disasters have posed challenges to people's physical and psychological safety [35] because tourists, like everyone else, value tranquility and peace while enjoying the pleasures and activities offered by the destinations [19].…”

Section: The Impact Of Disasters On Tourismmentioning

confidence: 99%

Safety or Travel: Which Is More Important? The Impact of Disaster Events on Tourism

Chiu

Tian

et al. 2020

Sustainability

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Tourism is making an increasingly considerable contribution to the sustainable development of world economy, but its development is susceptible to a series of disaster events. The impact of disaster events on tourists’ travel decisions is receiving ever-growing attention. In this study, disasters are classified into two categories: namely, natural disasters and man-made disasters. Among these disasters, earthquakes and terrorist attacks—as the most representative two types—are taken as research examples. By virtue of a difference-in-difference research method and online review data from TripAdvisor, multiple incidents that have occurred in different countries are systematically and comparatively analyzed for verifying the effects of catastrophic events with varying natures, frequencies, and intensities on tourism. The main findings are as follows: (1) both natural disasters and man-made disasters have a negative effect on the number of tourists and the tourist experience; (2) higher frequency and intensity of terrorist attacks may not correspond to tourism, and terrorist attacks exert a more influential impact on the safety image of tourist destinations; (3) compared with the scale and intensity of earthquakes, the frequency of earthquakes has a greater effect on tourism; (4) compared with terrorist attacks, earthquakes have a greater effect on the number of tourists.

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“…To consider the nonlinear behavior of variables, Shin et al [34] developed the method of NARDL by extending the Pesaran et al [35] bound test approach. The methodology of NARDL has been previously used by Ibrahim [36] for investigating the oil and food prices nexus, Bildirici and Ozaksoy [37] for the association between economic growth and woody consumption in South Africa, Bayramoglu and Yildirim [38] for the energy use and economic growth nexus in USA and Fareed et al [39] for the nexus of tourism, terrorism and economic growth and Kumar et al [40] for the asymmetric relationship between tourism and growth in Cook Island. Equation 4 is the modified version of Eq.…”

Section: Model Specification: Nardlmentioning

confidence: 99%

The asymmetric relationship between financial development and CO2 emissions: the case of Pakistan

et al. 2020

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The role of financial development for the environment has been extensively debated but the empirical results largely remain inconclusive. Empirical studies generally assume symmetric relationships, which can produce biased results. This study investigates the role of asymmetries in shaping the relationship of financial development (FD) with the environment by employing nonlinear autoregressive distributed lag (NARDL) model over the period 1972-2018. The structural unit root test of Zivot and Andrews indicates that all variables are integrated of order one and bound tests confirm long run relationship between the variables. The results validate the asymmetric association between FD and the environment as CO 2 emissions are largely affected by negative shocks in FD in the short and long run. The dynamic multiplier analysis also supports the results by showing the dominance of a higher impact of a negative component of FD on carbon emissions than a positive component. This study concludes that assuming the symmetric effect of FD on CO 2 emissions might be misleading. The study suggests that the policy makers may strive to achieve high growth rates using environmentally friendly financial development. Moreover, the negative asymmetric impact of FD needs to be considered in the development of financial sector.

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Nexus of tourism, terrorism, and economic growth in Thailand: new evidence from asymmetric ARDL cointegration approach

Cited by 76 publications

References 70 publications

Asymmetric impact of renewable and non-renewable energy on economic growth in Pakistan: New evidence from a nonlinear analysis

Asymmetric impact of renewable and non-renewable energy on economic growth in Pakistan: New evidence from a nonlinear analysis

Safety or Travel: Which Is More Important? The Impact of Disaster Events on Tourism

The asymmetric relationship between financial development and CO2 emissions: the case of Pakistan

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