10,007
Views
15
CrossRef citations to date
0
Altmetric
Articles

Does the COVID-19 pandemic affect the tourism industry in China? Evidence from extreme quantiles approach

, , , &
Pages 2333-2350 | Received 01 Apr 2021, Accepted 04 Jun 2021, Published online: 07 Jul 2021

References

  • Adedoyin, F., Ozturk, I., Abubakar, I., Kumeka, T., Folarin, O., & Bekun, F. V. (2020). Structural breaks in CO2 emissions: Are they caused by climate change protests or other factors? Journal of Environmental Management, 266, 110628. https://doi.org/10.1016/j.jenvman.2020.110628
  • Aslan, A. (2016). Does tourism cause growth? Evidence from Turkey. Current Issues in Tourism, 19(12), 1176–1184. https://doi.org/10.1080/13683500.2015.1015970
  • Badulescu, A., Badulescu, D., Simut, R., & Dzitac, S. (2020). Tourism–economic growth nexus. Technological and Economic Development of Economy, 26(4), 867–884. https://doi.org/10.3846/tede.2020.12532
  • Bakar, N. A., & Rosbi, S. (2020). Effect of Coronavirus disease (COVID-19) to tourism industry. International Journal of Advanced Engineering Research and Science, 7(4), 189–193. https://doi.org/10.22161/ijaers.74.23
  • Balli, F., Uddin, G. S., & Shahzad, S. J. H. (2019). Geopolitical risk and tourism demand in emerging economies. Tourism Economics, 25(6), 997–1005. https://doi.org/10.1177/1354816619831824
  • Brida, J. G., Gómez, D. M., & Segarra, V. (2020). On the empirical relationship between tourism and economic growth. Tourism Management, 81, 104131. https://doi.org/10.1016/j.tourman.2020.104131
  • Chen, H., Huang, X., & Li, Z. (2020). A content analysis of Chinese news coverage on COVID-19 and tourism. Current Issues in Tourism. https://doi.org/10.1080/13683500.2020.1763269
  • Cho, J. S., Kim, T., & Shin, Y. (2015). Quantile cointegration in the autoregressive distributed-lag modeling framework. Journal of Econometrics, 188(1), 281–300. https://doi.org/10.1016/j.jeconom.2015.05.003
  • Foo, L.-P., Chin, M.-Y., Tan, K.-L., & Phuah, K.-T. (2020). The impact of COVID-19 on tourism industry in Malaysia. Current Issues in Tourism. https://doi.org/10.1080/13683500.2020.1777951
  • Fu, X., Ridderstaat, J., & Jia, H. C. (2020). Are all tourism markets equal? Linkages between market-based tourism demand, quality of life, and economic development in Hong Kong. Tourism Management, 77, 104015. https://doi.org/10.1016/j.tourman.2019.104015
  • Godil, D. I., Sharif, A., Agha, H., & Jermsittiparsert, K. (2020). The dynamic nonlinear influence of ICT, financial development, and institutional quality on CO2 emission in Pakistan: New insights from QARDL approach. Environmental Science and Pollution Research International, 27(19), 24190–24200. https://doi.org/10.1007/s11356-020-08619-1
  • Gössling, S., Scott, D., & Hall, C. M. (2020). Pandemics, tourism and global change: A rapid assessment of COVID-19. Journal of Sustainable Tourism, 29(1), 1–20. https://doi.org/10.1080/09669582.2020.1758708
  • Hoque, A., Shikha, F. A., Hasanat, M. W., Arif, I., & Hamid, A. B. A. (2020). The effect of Coronavirus (COVID-19) in the tourism industry in China. Asian Journal of Multidisciplinary Studies, 3(1), 52–58.
  • Huang, C., Wang, Y., Li, X., Ren, L., Zhao, J., Hu, Y., Zhang, L., Fan, G., Xu, J., Gu, X., Cheng, Z., Yu, T., Xia, J., Wei, Y., Wu, W., Xie, X., Yin, W., Li, H., Liu, M., … Cao, B. (2020). Clinical features of patients infected with 2019 novel coronavirus in Wuhan. The Lancet, 395(10223), 497–506. https://doi.org/10.1016/S0140-6736(20)30183-5
  • Jones, P., & Comfort, D. (2020). The COVID-19 crisis, tourism and sustainable development. Athens Journal of Tourism, 7(2), 75–86. https://doi.org/10.30958/ajt.7-2-1
  • Khalifa, G. S. (2020). Factors affecting tourism organization competitiveness: Implications for the Egyptian tourism industry. African Journal of Hospitality, Tourism and Leisure, 9(3), 116–130.
  • Kim, T.-H., & White, H. (2003). Estimation, inference, and specification testing for possibly misspecified quantile regression. Emerald Group Publishing Limited.
  • Ma, H., Chiu, Y., Tian, X., Zhang, J., & Guo, Q. (2020). Safety or travel: Which is more important? The impact of disaster events on tourism. Sustainability, 12(7), 3038. https://doi.org/10.3390/su12073038
  • McCartney, G. (2020). The impact of the coronavirus outbreak on Macao. From tourism lockdown to tourism recovery. Current Issues in Tourism. https://doi.org/10.1080/13683500.2020.1762549
  • Mirza, N., Naqvi, B., Rahat, B., & Rizvi, S. K. A. (2020). Price reaction, volatility timing and funds' performance during Covid-19. Finance Research Letters, 36, 101657. https://doi.org/10.1016/j.frl.2020.101657
  • Mirza, N., Rahat, B., Naqvi, B., & Rizvi, S. K. A. (2020). Impact of Covid-19 on corporate solvency and possible policy responses in the EU. The Quarterly Review of Economics and Finance. https://doi.org/10.1016/j.qref.2020.09.002
  • Page, S., Yeoman, I., Munro, C., Connell, J., & Walker, L. (2006). A case study of best practice—Visit Scotland’s prepared response to an influenza pandemic. Tourism Management, 27(3), 361–393. https://doi.org/10.1016/j.tourman.2006.01.001
  • Pham, T. D., Dwyer, L., Su, J.-J., & Ngo, T. (2021). COVID-19 impacts of inbound tourism on Australian economy. Annals of Tourism Research, 88, 103179. https://doi.org/10.1016/j.annals.2021.103179
  • Prayag, G. (2020). Time for reset? COVID-19 and tourism resilience. Tourism Review International, 24(2), 179–184. https://doi.org/10.3727/154427220X15926147793595
  • Pulido-Fernández, J. I., & Cárdenas-García, P. J. (2021). Analyzing the bidirectional relationship between tourism growth and economic development. Journal of Travel Research, 60(3), 583–602. https://doi.org/10.1177/0047287520922316
  • Ritchie, B. W., & Jiang, Y. (2019). A review of research on tourism risk, crisis and disaster management: Launching the annals of tourism research curated collection on tourism risk, crisis and disaster management. Annals of Tourism Research, 79, 102812. https://doi.org/10.1016/j.annals.2019.102812
  • Rizvi, S. K. A., Mirza, N., Naqvi, B., & Rahat, B. (2020). Covid-19 and asset management in EU: A preliminary assessment of performance and investment styles. Journal of Asset Management, 21(4), 281–291. https://doi.org/10.1057/s41260-020-00172-3
  • Rizvi, S. K. A., Yarovaya, L., Mirza, N., & Naqvi, B. (2020). The impact of COVID-19 on valuations of non-financial European firms. Available at SSRN 3705462.
  • Rogerson, C. M., & Rogerson, J. M. (2020). COVID-19 and tourism spaces of vulnerability in South Africa. African Journal of Hospitality, Tourism and Leisure, 9(4), 382–401.
  • Salisu, A. A., Akanni, L., & Raheem, I. (2020). The COVID-19 global fear index and the predictability of commodity price returns. Journal of Behavioral and Experimental Finance, 27, 100383. https://doi.org/10.1016/j.jbef.2020.100383
  • Shahzad, S. J. H., Shahbaz, M., Ferrer, R., & Kumar, R. R. (2017). Tourism-led growth hypothesis in the top ten tourist destinations: New evidence using the quantile-on-quantile approach. Tourism Management, 60, 223–232. https://doi.org/10.1016/j.tourman.2016.12.006
  • Sharif, A., Afshan, S., & Nisha, N. (2017). Impact of tourism on CO2 emission: Evidence from Pakistan. Asia Pacific Journal of Tourism Research, 22(4), 408–421. https://doi.org/10.1080/10941665.2016.1273960
  • Sharif, A., Aloui, C., & Yarovaya, L. (2020). COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach. International Review of Financial Analysis, 70, 101496. https://doi.org/10.1016/j.irfa.2020.101496
  • Sikiru, A. A., & Salisu, A. A. (2021). Hedging against risks associated with travel and tourism stocks during COVID‐19 pandemic: The role of gold. International Journal of Finance & Economics. https://doi.org/10.1002/ijfe.2513
  • Škare, M., Soriano, D. R., & Porada-Rochoń, M. (2021). Impact of COVID-19 on the travel and tourism industry. Technological Forecasting and Social Change, 163, 120469. https://doi.org/10.1016/j.techfore.2020.120469
  • Statista. (2021). Retrieved from https://www.statista.com/statistics/236040/revenue-from-tourism-in-china/
  • Su, C.-W., Cai, X.-Y., Qin, M., Tao, R., & Umar, M. (2021). Can bank credit withstand falling house price in China? International Review of Economics & Finance, 71, 257–267. https://doi.org/10.1016/j.iref.2020.09.013
  • Su, C.-W., Huang, S.-W., Qin, M., & Umar, M. (2021). Does crude oil price stimulate economic policy uncertainty in BRICS? Pacific-Basin Finance Journal, 66, 101519. https://doi.org/10.1016/j.pacfin.2021.101519
  • Su, C.-W., Qin, M., Tao, R., Shao, X.-F., Albu, L. L., & Umar, M. (2020). Can Bitcoin hedge the risks of geopolitical events? Technological Forecasting and Social Change, 159, 120182. https://doi.org/10.1016/j.techfore.2020.120182
  • Su, C.-W., Qin, M., Tao, R., & Umar, M. (2020). Financial implications of fourth industrial revolution: Can bitcoin improve prospects of energy investment? Technological Forecasting and Social Change, 158, 120178. https://doi.org/10.1016/j.techfore.2020.120178
  • Umar, M., Ji, X., Kirikkaleli, D., & Alola, A. A. (2021). The imperativeness of environmental quality in the United States transportation sector amidst biomass-fossil energy consumption and growth. Journal of Cleaner Production, 285, 124863. https://doi.org/10.1016/j.jclepro.2020.124863
  • Umar, M., Ji, X., Kirikkaleli, D., Shahbaz, M., & Zhou, X. (2020). Environmental cost of natural resources utilization and economic growth: Can China shift some burden through globalization for sustainable development? Sustainable Development, 28(6), 1678–1688. https://doi.org/10.1002/sd.2116
  • Umar, M., Ji, X., Kirikkaleli, D., & Xu, Q. (2020). COP21 Roadmap: Do innovation, financial development, and transportation infrastructure matter for environmental sustainability in China? J Environ Manage, 271, 111026 https://doi.org/10.1016/j.jenvman.2020.111026
  • Umar, M., Ji, X., Mirza, N., & Rahat, B. (2021). The impact of resource curse on banking efficiency: Evidence from twelve oil producing countries. Resources Policy, 72, 102080. https://doi.org/10.1016/j.resourpol.2021.102080
  • Umar, M., Mirza, N., Rizvi, S. K. A., & Furqan, M. (2021). Asymmetric volatility structure of equity returns: Evidence from an emerging market. The Quarterly Review of Economics and Finance, https://doi.org/10.1016/j.qref.2021.04.016
  • Umar, M., Rizvi, S. K. A., & Naqvi, B. (2021). Dance with the devil? The nexus of fourth industrial revolution, technological financial products and volatility spillovers in global financial system. Technological Forecasting and Social Change, 163, 120450. https://doi.org/10.1016/j.techfore.2020.120450
  • Umar, M., Su, C.-W., Rizvi, S. K. A., & Shao, X.-F. (2021). Bitcoin: A safe haven asset and a winner amid political and economic uncertainties in the US? Technological Forecasting and Social Change, 167, 120680. https://doi.org/10.1016/j.techfore.2021.120680
  • Wu, T.-P., Wu, H.-C., Wu, Y.-Y., Liu, Y.-T., & Wu, S.-T. (2020). Causality between Tourism and Economic Growth. Journal of China Tourism Research. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3705474
  • Yarovaya, L., Mirza, N., Rizvi, S. K. A., & Naqvi, B. (2020). COVID-19 pandemic and stress testing the Eurozone Credit Portfolios. Available at SSRN 3705474.
  • Zenker, S., & Kock, F. (2020). The coronavirus pandemic - A critical discussion of a tourism research agenda. Tourism Management, 81, 104164. https://doi.org/10.1016/j.tourman.2020.104164