Economic Policy Uncertainty and Tourism in Croatia: A Wavelet Analysis

By using wavelet analysis, we find that domestic Economic Policy Uncertainty (EPU) has short and long-term adverse effects on domestic tourism in Croatia. Domestic and global EPU (GEPU) have a negative relationship with foreign arrivals; however, the impact of domestic EPU on foreign arrivals is sig...

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Bibliographic Details
Published in:Eastern European economics 2022-11, Vol.60 (6), p.498-510
Main Authors: Demir, Ender, Bilgin, Mehmet Huseyin, Karabulut, Gokhan, Doker, Asli Cansin
Format: Article
Language:English
Subjects:
Croatia
domestic arrivals
Economic policy
Economic policy uncertainty
Economic theory
Economics
foreign arrivals
Tourism
Uncertainty
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Summary:By using wavelet analysis, we find that domestic Economic Policy Uncertainty (EPU) has short and long-term adverse effects on domestic tourism in Croatia. Domestic and global EPU (GEPU) have a negative relationship with foreign arrivals; however, the impact of domestic EPU on foreign arrivals is significantly bigger. The co-movements between nights of stay per domestic tourists and domestic EPU are positive in the short and the long run, while the relationship with GEPU is negative. Our findings for the foreign arrivals per tourist is the opposite of those for the domestic. There is a positive relationship between foreign arrivals per tourist and GEPU.
ISSN:0012-8775
1557-9298
DOI:10.1080/00128775.2022.2103434