scholarly journals Carbon Price Impacts on the Chinese Tourism Industry

2020 ◽  
Vol 60 (2) ◽  
pp. 370-383
Author(s):  
Samuel Meng ◽  
Tien Pham ◽  
Larry Dwyer ◽  
Bligh Grant
Keyword(s):  
Carbon Price ◽  
Tourism Industry ◽  
Energy Prices ◽  
Subsidy Policy ◽  
Goods And Services ◽  
Adverse Impacts ◽  
Price Impacts ◽  
Short Run ◽  
Negative Impacts ◽  
Trading Scheme

This study simulates the short-run effects of an Emissions Trading Scheme (ETS) and two auxiliary policies on the Chinese tourism industry. The results show that the ETS alone will increases energy prices and have significant adverse impacts on China’s economy. The adverse impacts are relatively stronger on the energy sectors than they are on tourism. Two auxiliary policies—a tourism subsidy and a reduced goods and services tax (GST)—are examined as policy options to soften the negative impacts of the ETS. Results show that the tourism-subsidy policy is more effective than the GST reduction policy.

Carbon Price Drivers

2013 ◽  
Vol 4 (4) ◽  
pp. 1-7 ◽  
Author(s):  
Julien Chevallier
Keyword(s):  
European Union ◽  
Carbon Price ◽  
Future Research ◽  
Energy Prices ◽  
The European Union ◽  
Academic Literature ◽  
Weather Events ◽  
Emissions Trading Scheme ◽  
Trading Scheme ◽  
Market Shocks

Since the creation of the European Union Emissions Trading Scheme (EU ETS) in 2005, a burgeoning academic literature has emerged to identify the factors that shape the price of carbon, where one European Union Allowance is equal to one ton of CO2-equivalent emitted in the atmosphere. Thus, there is a need for an updated and thorough literature review on the state-of-the-art on topic that this paper aims to fulfill. Namely, the author considers the main econometric studies that have been recently published in the academic literature, which feature the influence of the following determinants to explain the variation of the price of carbon: institutional decisions; energy prices and weather events; macroeconomic and financial market shocks. The paper concludes with some directions for future research in this area.

scholarly journals Does the Impact of Carbon Price Determinants Change with the Different Quantiles of Carbon Prices? Evidence from China ETS Pilots

2020 ◽  
Vol 12 (14) ◽  
pp. 5581 ◽  
Author(s):  
Wenjun Chu ◽  
Shanglei Chai ◽  
Xi Chen ◽  
Mo Du
Keyword(s):  
Emission Trading ◽  
Carbon Price ◽  
Carbon Market ◽  
Emission Trading Scheme ◽  
Energy Prices ◽  
Price Determinants ◽  
Trading Scheme ◽  
The Impact ◽  
Carbon Prices ◽  
Different Levels

Since carbon price volatility is critical to the risk management of the CO2 emissions trading market, research has focused on energy prices and macroeconomic drivers which cause changes in carbon prices and make the carbon market more volatile than other markets. However, they have ignored whether the impact of carbon price determinants changes when the carbon price is at different levels. To fill this gap, this paper applies a semiparametric quantile regression model to explore the effects of energy prices and macroeconomic drivers on carbon prices at different quantiles. The model combines the advantages of parameter estimation, nonparametric estimation and quantile regression to describe the nonlinear relationship between carbon price and its fundamentals, which do not need to make any assumptions about the random error. Carbon prices are high–tailed and exhibit higher kurtosis, the traditional models which tend to assume that data are normally distributed can’t perform well. Furthermore, the semiparametric model doesn’t need to assume that the data are normally distributed. Therefore, the semiparametric model can effectively model the data. Some new evidence from China’s emission trading scheme (ETS) pilots shows that energy prices and macroeconomic drivers have different effects on carbon prices at high or low quantiles. First, the negative impact of coal prices on carbon prices was greater at the lower quantile of carbon prices in the Shenzhen ETS pilot. However, the effects of coal prices were positive in the Beijing ETS pilot, which may be attributed to great demand for coal. Second, oil prices had greater negative effects on carbon prices at higher quantiles in Beijing and Hubei ETS pilots. This can be attributed to the fact that businesses use less oil when carbon prices are high. For the Shenzhen ETS pilot, the effects of oil prices were positive. Third, natural gas prices have a stronger effect on carbon prices as quantiles increased in the Beijing and Hubei ETS pilots. Lastly, the effects of macroeconomic drivers on carbon prices at low quantiles were stronger in the Shenzhen ETS pilots and higher at the medium quantiles in Beijing and Hubei ETS pilots. These findings suggest that the impact of determinants on the carbon prices at different levels is not constant. Ignoring this issue will lead to a missed warning about the risks of the carbon market. This study will be of positive significance for China’s emission trading scheme (ETS) pilots, in order to accurately monitor the effects of carbon prices determinants and effectively avoid carbon market risks.

scholarly journals Tourism Destination Marketing: Academic Knowledge

Encyclopedia ◽  
2020 ◽  
Vol 1 (1) ◽  
pp. 42-56
Author(s):  
Marios Sotiriadis
Keyword(s):  
Tourism Industry ◽  
Destination Marketing ◽  
Tourism Destination ◽  
Academic Knowledge ◽  
Marketing Activities ◽  
Function Domain ◽  
Negative Impacts ◽  
Marketing Principles ◽  
Destination Management Organizations ◽  
Goals And Objectives

A holistic, multi-organization view of marketing or destination management organizations (DMOs) who must muster the best efforts of many partner organizations and individuals (stakeholders) to have the greatest success. Destination marketing is described as “a continuous, sequential process through which a DMO plans, researches, implements, controls and evaluates programs aimed at satisfying tourists’ needs and wants as well as the destination’s and DMO’s visions, goals and objectives”. The effectiveness of marketing activities depends on the efforts and plans of tourism suppliers and other entities. This definition posits that marketing is a managerial function/domain that should be performed in a systematic manner adopting and implementing the appropriate approaches, as well as suitable tools and methods. In doing so, it is believed that a tourism destination (through the organizational structure of a DMO) can attain the expected outputs beneficial to all stakeholders, i.e., the tourism industry, hosting communities/populations, and tourists/visitors. The effective implementation of tourism destination marketing principles and methods constitutes an efficient and smart pillar, a cornerstone to attain a balance/equilibrium between the perceptions and interests, sometimes conflicting, of stakeholders by minimizing the negative impacts and maximizing the benefits resulting from tourism. All the same, it is worth noting that marketing is not a panacea, nor a kind of magic stick.

scholarly journals Risks inherent in the digital surveillance economy: A research agenda

2019 ◽  
Vol 34 (1) ◽  
pp. 59-80 ◽  
Author(s):  
Roger Clarke
Keyword(s):  
Research Agenda ◽  
Personal Data ◽  
Social Dimension ◽  
Goods And Services ◽  
Digital Surveillance ◽  
The Social ◽  
Alternative Scenarios ◽  
Negative Impacts ◽  
Surveillance Society ◽  
New Phase

The digitisation of data about the world relevant to business has given rise to a new phase of digitalisation of business itself. The digitisation of data about people has linked with the notions of information society, surveillance society, surveillance state and surveillance capitalism, and given rise to what is referred to in this article as the digital surveillance economy. At the heart of this is a new form of business model that is predicated on the acquisition and consolidation of very large volumes of personal data, and its exploitation to target advertisements, manipulate consumer behaviour, and price goods and services at the highest level that each individual is willing to bear. In the words of the model’s architects, users are ‘bribed’ and ‘induced’ to make their data available at minimal cost to marketers. The digital surveillance economy harbours serious threats to the interests of individuals, societies and polities. That in turn creates risks for corporations. The new economic wave may prove to be a tsunami that swamps the social dimension and washes away the last five centuries’ individualism and humanism. Alternatively, institutional adaptation might occur, overcoming the worst of the negative impacts; or a breaking-point could be reached and consumers might rebel against corporate domination. A research agenda is proposed, to provide a framework within which alternative scenarios can be investigated.

The Perceived Impacts of Sport Tourism: An Urban Host Community Perspective

2010 ◽  
Vol 24 (2) ◽  
pp. 119-138 ◽  
Author(s):  
Nancy Hritz ◽  
Craig Ross
Keyword(s):  
Economic Benefits ◽  
Tourism Industry ◽  
Host Community ◽  
Environmental Benefits ◽  
Sport Tourism ◽  
Tourism Impacts ◽  
Different Types ◽  
Perceived Impacts ◽  
Negative Impacts ◽  
Social Environmental

Sport tourism is one of the fastest growing market segments in the tourism industry and is receiving increased attention for its social, environmental, and economic impacts upon destinations. Prior research in tourism impacts has tended to focus exclusively on tourism as a whole and does not differentiate among the different types of tourism that may be present in a destination. The purpose of this study was to examine how residents of Indianapolis, Indiana perceived the impacts sport tourism has upon their city. A total of 347 surveys were returned in a mailed questionnaire. Exploratory factor analysis revealed a four factor structure of social benefits, environmental benefits, economic benefits, and general negative impacts. Social and economic benefits were strong predictors for support for further sport tourism development revealing a strong identification with the advantages of sport tourism in their city such as an increased cultural identity and social interaction opportunities.

scholarly journals International trade in services and inequalities

2016 ◽  
Vol 23 (5) ◽  
pp. 1069-1075 ◽  
Author(s):  
Sylvain Petit
Keyword(s):  
Wage Inequality ◽  
Developed Countries ◽  
Tourism Industry ◽  
Skilled Workers ◽  
Business Services ◽  
Long Run ◽  
Short Run ◽  
Unskilled Workers ◽  
Tourism Services ◽  
The Impact

This study investigates the impact of the international openness in tourism services trade on wage inequality between highly skilled, semi-skilled, and unskilled workers in the tourism industry. The sample covers 10 developed countries and expands over 15 years. A cointegrated panel data model and an error correction model were used to distinguish between the short- and long-run effects. The results are compared to those of openness of business services and manufactured goods. The findings point out that tourism increases wage inequality at the expense of the least skilled workers in the long run and the short run.

Sustainable Tourism Development In India: An Exploratory Research On Sustainability Of Delhi Tourism

2021 ◽  
Vol 9 (4) ◽  
pp. 198-217
Author(s):  
T. Venugopalan
Keyword(s):  
Factor Analysis ◽  
Environmental Sustainability ◽  
Structural Equation ◽  
Local Community ◽  
Tourism Development ◽  
Research Paper ◽  
Tourism Industry ◽  
Exploratory Research ◽  
Cultural Sustainability ◽  
Adverse Impacts

This research paper explores the economic, environmental, and socio-cultural sustainability of Delhi tourism from the perspective of tourists. Primary research was conducted among tourists based on a structured questionnaire at various tourist places across Delhi. This research paper used exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and structural equation modelling (SEM) for examining and analysing the sustainability of tourism. The research findings on environmental pressure (EP) validate that tourism has been exerting huge pressure on the environment. The environment management (EM) system adopted by the tourism industry has failed in mitigating the adverse impacts of tourism and achieving environmental sustainability. The findings about economic empowerment (EP) prove that tourism has failed to achieve economic sustainability by empowering the local community. The destination governance (DG) mechanisms are directly contributing to the sustainability of tourist places. However, the findings on socio-cultural pressure (SP) fail to substantiate the argument that tourism is putting huge pressure on socio-cultural sustainability. Thus, tourism development in Delhi is not conducive to achieving environmental, economic, and social sustainability. Hence, the government should adopt proactive measures to mitigate the adverse impacts of tourism on the environment and economy integrating local communities while formulating and implementing tourism plans and programmes.

scholarly journals Energy Prices, Real Estate Sales and Industrial Output in China

Energies ◽  
2018 ◽  
Vol 11 (7) ◽  
pp. 1847 ◽  
Author(s):  
K. Chau ◽  
Gaolu Zou
Keyword(s):  
Real Estate ◽  
Value Added ◽  
Industrial Sector ◽  
Data Series ◽  
Energy Prices ◽  
Industrial Output ◽  
Energy Efficient Buildings ◽  
Long Run ◽  
Different Types ◽  
Short Run

A majority of energy is consumed to control the indoor environment for human activities and industrial production. The demand for energies for these two uses are reflected in demand for different types of real estate and the volume of industrial outputs. The purpose of this study is to examine the long-run equilibrium and short-run dynamics between real energy prices and demand for different types of real estate and industrial output in China. Energy prices are measured in the real price of fuels and power. Demand for different types of real estate is measured in their sales volume in the first hand market, that is, floor areas of new real estate sold by developers. Industrial output is measured by the net output (value added) of the industrial sector. All data series were tested for stationarity (i.e., the existence of a unit root) before testing for a co-integration relationship. We found no long-term equilibrium relationship between energy prices and the demand for real estate and industrial output as predicted by theory, probably due to increased supply of energy efficient buildings. There is also no short-run relationship between energy prices and demand for housing due to the increase in vacancy rate resulting from speculative demand for housing. However, demand for commercial properties appeared to lead energy prices. Finally, there is strong evidence suggesting that an increase in energy prices will significantly reduce industrial output but not vice versa.

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