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The macroeconomic contribution to foreign-exchange earnings from tourism in Taiwan.
- Source :
- Current Issues in Tourism; Aug2017, Vol. 20 Issue 11, p1110-1115, 6p
- Publication Year :
- 2017
-
Abstract
- The study uses a Markov-switching model (MSM) to investigate the relationship between foreign-exchange earnings from tourism and macroeconomic factors in Taiwan. The MSM decomposes foreign-exchange cycles into a high growth stage (HGS) and a low growth stage (LGS). The steady-state probability remains foreign-exchange earnings from tourism in the HGS and LGS are 0.7486 and 0.8631, respectively. The findings indicate that foreign-exchange earnings from tourism in Taiwan have a high tendency to stay in the LGS state and a low tendency to shift from the LGS state to the HGS state. Furthermore, the results show that macroeconomic factors in Taiwan can continuously affect foreign-exchange earnings from tourism in the HGS. [ABSTRACT FROM PUBLISHER]
- Subjects :
- TOURISM
FOREIGN exchange
TOURISM economics
MACROECONOMICS
GROSS domestic product
Subjects
Details
- Language :
- English
- ISSN :
- 13683500
- Volume :
- 20
- Issue :
- 11
- Database :
- Complementary Index
- Journal :
- Current Issues in Tourism
- Publication Type :
- Academic Journal
- Accession number :
- 124023870
- Full Text :
- https://doi.org/10.1080/13683500.2016.1206062