Article
Business, Finance
Yonghong Jiang, Gengyu Tian, Yiqi Wu, Bin Mo
Summary: This paper investigates the impact of geopolitical risk (GPR) and economic policy uncertainty (EPU) on Chinese tourism stock return using the quantile-on-quantile method and causality-in-quantiles approach. The empirical results show that GPR has a lasting negative effect on tourism stock return, with a more significant impact at lower quantiles. Furthermore, the Chinese categorical EPU has both negative and positive effects on stock returns at different distribution levels. The asymmetric phenomena between GPR, EPU, and stock returns are more pronounced during tourist off-season at lower and upper quantiles.
INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS
(2022)
Article
Environmental Studies
Eyup Dogan, Muhammad Tariq Majeed, Tania Luni
Summary: This study explores the effects of geopolitical risk and economic policy uncertainty on natural resources rents in developing countries using panel quantile estimation. The results show that geopolitical risk has a negative impact on natural resources rents, while economic growth increases rents. Economic policy uncertainty has varying effects on rents across different quantiles.
Article
Environmental Studies
Cai Yang, Zibo Niu, Wang Gao
Summary: This paper investigates the time-varying influence of geopolitical risks (GPR) and trade policy uncertainty (TPU) on commodity prices using a time-varying parameter vector autoregressive model with stochastic volatility. The findings suggest that TPU and GPR have significant time-varying effects on the commodity market, with different impacts in short-term and medium-to-long-term periods. Additionally, there is heterogeneity in the response of different commodity prices to external shocks such as the COVID-19 pandemic.
Article
Environmental Studies
Veli Yilanci, Esra N. Kilci
Summary: This study analyzes the causality effects of economic policy uncertainty and geopolitical risk on the prices of precious metals, finding instability in the causal relationship over different periods. This suggests that the impact of these factors on precious metal prices is changing.
Article
Green & Sustainable Science & Technology
Alisa Kazakova, Insin Kim
Summary: This research delves into the relationships between geopolitical risks (GPRs), economic policy uncertainty (EPU), and tourist arrivals in South Korea, particularly from neighboring countries like China and Japan. By analyzing monthly data from January 2003 to November 2019 and employing innovative techniques such as continuous wavelets, wavelet coherency, and wavelet phase difference, the study reveals the inconsistent and heterogeneous co-movements among variables at different time periods and frequencies. The results underscore the crucial role of GPR and EPU in explaining changes in tourist arrivals from China and Japan, with different implications in both time and frequency domains. The findings suggest that the tourism industry in South Korea demonstrates resilience against transient effects of economic and geopolitical shocks, but practitioners should remain cautious and consider potential external threats when forecasting tourism demand.
Article
Business, Finance
Rabin K. Jana, Indranil Ghosh
Summary: This paper examines the connection between Geopolitical Uncertainty (GPU) and agricultural investment. The study applies wavelet-based techniques to analyze the relationship across different time dimensions and investigates the causal structure between GPU and selected indices from the US agricultural market. The findings reveal that GPU has an impact on investment in agricultural spot markets in the medium term, while futures market investment is less affected by GPU compared to spot markets. Notably, there is a significant shift in the interplay between GPU and agricultural investment during the COVID-19 pandemic and the ongoing Russia-Ukraine conflict. These results highlight the potential diversification benefits and risk mitigation during periods of distress and volatility.
FINANCE RESEARCH LETTERS
(2023)
Article
Environmental Studies
Lijun Jia, Ruoyu Xu, Jian Wu, Malin Song, Xueli Chen
Summary: In recent times, the global metal trade has been impacted by geopolitical risk and economic policy uncertainty. This study investigates the effects of these factors on price volatility in the metal futures market, highlighting the time-varying effects and regional heterogeneity.
Article
Business, Finance
Lihua Shen, Yanran Hong
Summary: This paper investigates the transmission of risks from geopolitical risks to economic policy uncertainty, using Germany as an example. The study finds that the occurrence of the Russia-Ukraine conflict can affect the risk transmission and this relationship has an asymmetric characteristic, indicating that increased geopolitical risks may stimulate Germany's economic policy uncertainty.
FINANCE RESEARCH LETTERS
(2023)
Article
Energy & Fuels
Yusheng Jiao, Xuemeng Xiao, Xiao Bao
Summary: Economic policy uncertainty and geopolitical risks have a negative impact on ecological footprint, hindering investment in renewable energy and R&D. However, as China's economy improves and environmental awareness increases, their influence on ecological footprint is weakening.
Article
Business
Yumei Tang, Xihui Haviour Chen, Provash Kumer Sarker, Sarra Baroudi
Summary: This study investigates the asymmetric effects of USEPU, GPRT, GPRA, and WTI crude oil on the returns of Green Bonds. By using the NARDL model, the empirical evidence shows that in the short run, an increase in USEPU negatively affects green bond returns, while an increase in GPRT and WTI positively affects green bond returns. In the long run, an increase in USEPU, GPRA, and GPRT has a negative impact on green bond returns, while WTI has a positive impact. These findings are crucial for policymakers and investors in managing green investments and portfolios.
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
(2023)
Article
Hospitality, Leisure, Sport & Tourism
Kyoung-Joo Lee, Sun -Yong Choi
Summary: Accurate forecasting of travel demand is crucial for policymakers and businesses to improve tourism strategies, optimize investment plans, and enhance operational efficiency. This study highlights the differences in the reaction of leisure and business travel to geopolitical risks and economic policy uncertainty through a comparative wavelet analysis of inbound foreign tourists in South Korea. The results indicate that leisure travel is more sensitive to risks, while business travel demonstrates a higher tolerance. Recognizing the stability and profitability of business travel, targeted measures should be implemented to promote this market segment.
JOURNAL OF HOSPITALITY AND TOURISM MANAGEMENT
(2023)
Article
Business, Finance
Yifei Cai, Yanrui Wu
Summary: This study uses a time-varying parameter Bayesian vector autoregressive model to explore the dynamic relationship between geopolitical risk and renewable energy consumption growth. The results show that geopolitical risk has a positive impact on renewable energy consumption, while renewable energy consumption has a negative impact on geopolitical risk. These findings suggest that renewable energy can be a useful tool in reducing geopolitical risks.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2021)
Article
Business, Finance
Feiyun Xiang, Tsangyao Chang, Shi-jie Jiang
Summary: This study applies the Quantile Autoregressive Distributed Lag (QARDL) approach to investigate the asymmetric and nonlinear effects of economic policy uncertainty (EPU), climate policy uncertainty (CPU), and geopolitical risk (GPR) on China's life insurance premiums (LIP). The findings show that, except for the lowest quantiles, EPU has a negative impact on LIP in most cases. GPR has a negative influence on higher quantiles, while CPU significantly affects LIP in higher quantiles. This suggests that life insurance products become perceived as secure assets during periods of policy instability and geopolitical issues.
FINANCE RESEARCH LETTERS
(2023)
Article
Environmental Studies
Guoheng Hu, Shan Liu, Guo Wu, Peng Hu, Ruiqi Li, Liujie Chen
Summary: This study investigates the time-varying impacts of economic policy uncertainty and geopolitical risk on China's commodity prices using the TVP-SV-VAR model. The findings reveal that after 2019, economic policy uncertainty has a more significant impact on commodity prices compared to geopolitical risk.
Article
Environmental Studies
Yongjian Lyu, Heling Yi, Yingyi Hu, Mo Yang
Summary: This study analyzes the impact of economic policy uncertainty shocks on China's commodity futures returns using a time-varying parameter vector autoregressive framework. The research finds negative effects of EPU shocks on commodity futures returns, with varying effects over time and different reactions for different sectors. Additionally, the study reveals that money policy uncertainty shocks have relatively large effects on commodity futures returns compared to other types of policy uncertainty shocks.
Article
Hospitality, Leisure, Sport & Tourism
Evelina Maziliauske
Summary: This study investigates how tourism SMEs can contribute to the socio-cultural sustainability benefits of rural destination communities through co-creation in innovation for sustainability (IFS). The findings indicate that tourism SMEs co-create in IFS with various local stakeholders in rural destinations, and contribute to the sociocultural benefits of sustainability through local sourcing, education, resource synergies, inclusion, and quality of life.
TOURISM MANAGEMENT PERSPECTIVES
(2024)
Article
Hospitality, Leisure, Sport & Tourism
Aliana Man Wai Leong, Zhiwei (CJ) Lin, Yiting Zhou, IpKin Anthony Wong
Summary: This research fills the gap in tourism literature by focusing on meditation as a leisure activity and highlighting its transformative potential on tourists' psychological and emotional wellness. It offers a new avenue for body-soul self-improvement through meditation travel.
TOURISM MANAGEMENT PERSPECTIVES
(2024)
