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Supplemental Material, sj-pdf-1-teu-10.1177_1354816620983131 for Dutch Disease phenomenon and demand for international business travels: Panel ARDL/PMG estimation by Hassan F Gholipour, Reza Tajaddini and Usama Al-mulali in Tourism Economics

Supplemental Material, sj-pdf-1-teu-10.1177_1354816620987198 for Semiparametric APC analysis of destination choice patterns: Using generalized additive models to quantify the impact of age, period, and cohort on travel distances by Maximilian Weigert, Alexander Bauer, Johanna Gernert, Marion Karl, Asmik Nalmpatian, Helmut Küchenhoff and Jürgen Schmude in Tourism Economics

Supplemental Material, sj-pdf-3-teu-10.1177_1354816620987198 for Semiparametric APC analysis of destination choice patterns: Using generalized additive models to quantify the impact of age, period, and cohort on travel distances by Maximilian Weigert, Alexander Bauer, Johanna Gernert, Marion Karl, Asmik Nalmpatian, Helmut Küchenhoff and Jürgen Schmude in Tourism Economics

Supplemental Material, sj-pdf-1-teu-10.1177_1354816621993627 for How does institutional quality moderates the impact of tourism on economic growth? Startling evidence from high earners and tourism-dependent economies by Festus Fatai Adedoyin, Naila Erum and Festus Victor Bekun in Tourism Economics

We evaluate the level of cities’ ambition regarding CO2 emission targets and implementation of climate policies, and factors explaining this. Our empirical analysis explores a dataset for a subset of C40 cities. The reason for studying these cities is that they supposedly are at the forefront of mitigation action. For example, they were the first to disclose their self-imposed emission targets. We determine the targeted future emission levels based on the targeted reduction from the baseline emissions. We calculate these for discrete 10-year periods: 2020, 2030, 2040 and 2050. Next, we contrast the resulting emission levels with those in the base year 2015. In addition, we study how distinct explanatory variables, notably mayoral powers regarding climate policy, city characteristics and geographical location affect target emission levels.

Supplemental material, sj-pdf-1-jtr-10.1177_00472875211028322 for Estimating the Economic Impact of Tourism in the European Union: Review and Computation by Paolo Figini and Roberto Patuelli in Journal of Travel Research

This study analyzes the effectiveness of the Market Abuse Directive (MAD) in reducing possible profits from insider trading during voluntary tender offers with the purpose of delisting initiated by controlling shareholders. Exploiting the quasi-experimental setting provided by the introduction of the MAD, our event-study analysis on the Italian market suggests that the new regulation did not produce appreciable effects on the magnitude of abnormal returns and volumes noted before the announcement of a tender offer. Multivariate econometric analyses based on regression and matching methods confirm this result. However, poolability tests reveal that the MAD has changed the manner in which corporate characteristics influence the capacity of insiders to make profit. We interpret our results considering the choice problem of the optimal amount of insider trading, when comparing the marginal costs and benefits of the illegal activity.

The tension between efficiency and equity has been the focus of major debate since equity aspects started to be considered as part of project evaluation procedures (Thomopoulos et al. 2009). In this book, we contribute to the debate by focusing on the links and trade-offs between accessibility, economic efficiency and equity in both the developed and developing country contexts. Accessibility is a concept that has been central to physical planning and spatial modelling for more than 50 years. Accessibility can be viewed as a product of the land use and transport systems, and describes the extent to which land use and transport systems enable (groups of) individuals to reach activities or destinations by means of a (combination of) transport mode(s) (Geurs and van Wee 2004). From the literature it is clear that accessibility is linked to economic efficiency and equity. In general, increased accessibility resulting from a transport project is considered an important user benefit for people and firms. A traveller can make a trip at less cost or greater convenience; there might be less congestion, and more destinations may be reached in the same time. For firms, firstly, a reduction in interaction cost may increase efficiency of production (that is, time saved can be used in productive activities), and may become more competitive and attract more customers. Secondly, improved commuting conditions may improve the labour market, giving rise to improved productivity. However, the linkage between accessibility and spatial economic development is not straightforward.

The choice of centralizing tourism policies at the national level or, on the contrary, of decentralizing them at the local level is widely discussed in the literature, which highlights the related pros and cons. In fact, the simultaneous role of originator and attractor of tourism of each spatial unit may imply a range of complex and competing interests at various geographical scales. At any one time, organizations at the national, regional and local level are actively engaged in promoting tourism destinations in order to attract tourists. Nevertheless, potential competition/complementarity between regions in terms of their attractivity factors may imply a range of complex and competing interests at various geographical scales. In particular, in a framework of regional competition, a central (national) policy may be necessary to offset or coordinate the clashing regional interests. An increasingly important force of attraction for tourists (both domestic and international) is cultural tourism. For this reason, national and regional governments make great efforts to implement effective cultural tourism policies, for example to obtain an official certification for their historical/cultural attractions, like UNESCO?s World Heritage Sites (WHS) list. The WHS endowment of the regions surrounding a tourism destination may have a negative effect on its inflows of tourists (Patuelli et al. in J Geogr Syst 15:369?402, 2013). Indeed, tourists consider, in forming their travelling choices, the WHS endowment of alternative destinations, generating a phenomenon of spatial substitution (competition). This paper focuses on the choice between implementing tourism governance and policymaking at the central (national) or at the local (regional) level. The issue is raised by the following problem: (1) regional endowment (i.e., attractivity factors) may positively influence arrivals to tourism destinations, providing a justification for local policies (e.g., lobbying towards the national government for obtaining UNESCO?s WHS designations); (2) however, regional competition may reduce the positive direct effect, so that it may be necessary the intervention of the central (national) policy maker, to ?compensate? or ?correct? the local (regional) policies. The issue concerns the choice of how managing regional spillovers: regions could use their attractivity factors to gain a competitive advantage over other regions, but at the same time they risk damaging the national interest to attract tourists and increase the international market share. It is therefore critical to correctly balance and coordinate the tourism policies between the national and regional levels in order to effectively manage the regional endowment to cater to the cultural tourism demand. We stress that more profound insights into the problems and challenges of (de)centralized tourism policies can be gained by examining the national-regional choice, and in particular by using as a modelling framework, the ?normative? spatial interaction model.

Bilateral trade flows traditionally have been analysed by means of the spatial interaction gravity model. Still, (auto)correlation of trade flows has only recently received attention in the literature. This paper takes up this thread of emerging literature, and shows that spatial filtering (SF) techniques can take into account the autocorrelation in trade flows. Furthermore, we show that the use of origin and destination specific spatial filters goes a long way in correcting for omitted variable bias in an otherwise standard empirical gravity equation. For a cross-section of bilateral trade flows, we compare an SF approach to two benchmark specifications that are consistent with theoretically derived gravity. The results are relevant for a number of reasons. First, we correct for autocorrelation in the residuals. Second, we suggest that the empirical gravity equation can still be considered in applied work, despite the theoretical arguments for its misspecification due to omitted multilateral resistance terms. Third, if we include SF variables, we can still resort to any desired estimator, such as OLS, Poisson or negative binomial regression. Finally, interpreting endogeneity bias as autocorrelation in regressor variables and residuals allows for a more general specification of the gravity equation than the relatively restricted theoretical gravity equation. In particular, we can include additional country-specific push and pull variables, besides GDP (e.g., land area, landlockedness, and per capita GDP). A final analysis provides autocorrelation diagnostics according to different candidate indicators.