Economic crises and tourism competitiveness: A Markov swtiching regression approach

José Perles Ribes, Ana Ramón () and Antonio Rubia ()
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Ana Ramón: Department of Applied Economic Analyisis. University of Alicante
Antonio Rubia: Department of Financial Economics and Accounting

Economics Bulletin, 2015, vol. 35, issue 3, 1906-1915

Abstract: Authors discuss the effects that economic crises generate on the global market shares of tourism destinations, through a series of potential transmission mechanisms based on the main economic competitiveness determinants identified in the previous literature using a non-linear approach. Specifically a Markov Switching Regression approach is used to estimate the effect of two basic transmission mechanisms: reductions of internal and external tourism demands and falling investment.

Keywords: Economic crisis; Tourism destination competitiveness; Permanent shocks; Markov Switching Models (search for similar items in EconPapers)
JEL-codes: F0 L8 (search for similar items in EconPapers)
Date: 2015-09-07
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