The contagion effect of COVID-19-induced uncertainty on US tourism sector: Evidence from time-varying granger causality test

• Oguzhan Cepni ^[1] ; Tarik Dogru ^[2] ; Ozgur Ozdemir ^[3]
  1. [1] Copenhagen Business School

     Copenhagen Business School

     Dinamarca

     
  2. [2] Florida State University

     Florida State University

     Estados Unidos

     
  3. [3] University of Nevada, Las Vegas

     University of Nevada, Las Vegas

     Estados Unidos

     

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• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 29, Nº. 4, 2023, págs. 906-928
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • This study investigates the effect of COVID-19-induced uncertainty on the overall stock market and the stock performance of the tourism and hospitality industry and its subsectors utilizing a novel time-varying robust Granger causality test. The results show that the COVID-19 pandemic–induced uncertainty has an adverse impact on the overall economy, tourism and hospitality industry, and subsectors of tourism and hospitality. However, the impact of COVID-19 pandemic–induced uncertainty is more significant in the tourism and hospitality industry and its subsectors. In particular, hotels sector has experienced the largest impact from the COVID-19 pandemic, followed by restaurants and airline sectors, respectively. Research and practical implications are discussed.