Integration of tourism markets in Australia:An international visitor arrivals’ convergence assessment

By applying the methodological framework of transition modeling and econometric convergence tests introduced by Phillips and Sul, we reveal the existence of convergence clubs and transition convergence paths of international visitor arrivals for Australia. Specifically, by using monthly data of international arrivals over the period of January 1991 to September 2017, we provide evidence that tourism markets can integrate. The analysis suggests the identification of five distinct convergence clubs. This in turn signifies an integration phenomenon of Australia’s tourism market, which is revealed through the different convergence patterns of international visitor arrivals. Finally, it is evident that the revealed integration behavior of Australia’s international tourism market will enable policy makers to target better tourism needs through customized policies. </jats:p

Connectedness and spillovers in the innovation network of green transportation

DATA AVAILABILITY : Data will be made available on request.Greener alternatives for fuelling automobiles, such as hydrogen transport and electric vehicles, have shown considerable promise in transportation. Many others are sceptical of the growing enthusiasm for these new technologies, believing that energy storage technologies and management are insufficient for a complete shift. Such a network of variables and smart grid technologies that can help with the transition may reveal some systemic hazards linked with financial institutions, company risk and failure, and so on. This study attempts to characterise spillovers and connections between the indices of green transportation, smart grid, innovative materials, energy storage, and energy management globally. To do this, we employ a novel strategy developed by Balcilar et al. (2021) as well as a robustness check using the well-known Diebold and Yilmaz (2012) method. The study highlights the sub-systemic sector’s connections, giving policymakers insights into instruments to support financial market sustainability and stability. It would be critical to separate the impact of these indicators, but given the intrinsic relationship, this would be nearly impossible. The transportation innovation network is not rigid and established in its interconnection. The role of indicators shifts from transmitting to absorbing shocks regularly, and policymakers who want to encourage long-term solutions must be aware of this.https://www.elsevier.com/locate/enpolam2024EconomicsSDG-07:Affordable and clean energ

Analysing the linkage between total factor productivity and tourism growth in Latin American countries

Purpose: The study aims to investigate the nexus between total factor productivity and tourism growth in Latin American countries for time series data from 1995 to 2017. Design/methodology/approach: Using the extension of the Granger noncausality test in the nonlinear time-varying of Ajmi et al. (2015), the study points out the interconnectedness between the variables during the period. Findings: The study found nonlinear causality between the variables. Particularly, studying the conclusions for the time-varying Granger causality fashion, it can be noticed that the one-way causality from total factor productivity to tourism growth is obtained for Argentina, Bolivia, Brazil, Uruguay and Venezuela, while the vice versa is confirmed for Chile, Ecuador and Nicaragua. Lastly, the study dissected the plots of the curve causality. Practical implications: In view of the results, some crucial policy implications could be suggested, such as, under certain circumstances and as an exceptional case, the use of policy instruments such as targeted investment, marketing and the support of tourism organizations focused on driving a tourism-led-based productivity and/or tourism programs and projects. Originality/value: The current work is distinguished from the existing body of understanding in several substantial directions. This work explores, for the first time, the linkages between the total factor productivity index and tourism growth for Latin American countries. No single attempt has been known to investigate this interaction by using nonlinear causality, and this study determines the shape of the curve between the total factor productivity index and tourism growth for each country

Productivity Convergence and Divergence in Latin America, 1970-2014

The paper examines Latin American countries’ productivity growth levels and their convergence patterns utilizing nonparametric frontier approaches. Utilizing a sample of 17 Latin American countries for the period 1970-2014 it estimates various productivity indexes alongside with their main components. Moreover a convergence analysis is conducted estimating relative productivity convergence paths. The results suggest that over the period examined, countries’ productivity growth levels have contracted. We provide evidence that the implementation of the structural reforms of the 1990s do not appear to have driven Latin American countries to higher productivity levels. Moreover, the results do not render support to the productivity convergence hypothesis. On the other hand, some support was found for countries’ technological change levels, identifying three convergence clubs

The demand for defense spending in Russia: Economic and strategic determinants

The allocation of resources to defense and national security is influenced by several factors, both domestic and external. Findings, reported in the relevant empirical literature, suggest that military spending is determined by a cohort of economic, strategic and political factors. This paper estimates a demand function for Russian military expenditure for the period 1992–2015. The results indicate that Russian defense spending is strongly dependent on income from energy exports as well as on the overall performance of the Russian economy. Strategic factors also emerge as significant determinants of such expenditure

The demand for military spending in Latin American countries

Abstract The allocation of resources to defence and national security is influenced by several factors, both domestic and external. Empirical findings suggest that military spending is determined by economic, strategic, political, and security factors. Studies that estimate demand functions for such budgetary outlays focus either on individual country case studies or on groups of countries that share some similar traits and characteristics or belong to the same geopolitical region. This paper, using a panel of 12 Latin American countries and quantile regression analysis, estimates the demand for military expenditure over the 1965–2015 period. Results reported herein indicate that such spending has been driven by both domestic and external factors. The former include the economy as well as the political characteristics of the government as these are quantified by the Polity index of democracy. Intrastate conflict that has plagued many Latin American countries also emerges as a strong driving force in the allocation of resources to defence. Military spending by neighbouring countries with common borders emerges as the external strategic determinant that affects the demand for defence expenditures

Defence expenditure and economic growth in Latin American countries: Evidence from linear and nonlinear causality tests

Using SIPRI's new consistent database on military expenditures, the paper examines the economic effects of such spending in the case of the 13 Latin American countries. Employing both linear and nonlinear tests, the nexus between defence spending, economic growth, and investment is investigated for the period 1961-2014. Findings reported herein are not uniformed across all countries included in the sample. However, as a broad tentative generalization, they seem to be pointing to the absence of a strong and robust nexus between the variables examined