Pandemic Severity, Policy Stringency, and Tourism Performance: A Global Analysis

This paper investigates the impact of the COVID-19 pandemic and its associated policy effects on global tourism performance. Using daily data from 117 countries between January 23, 2020 and June 5, 2021, we applied a fixed-effects panel data model to investigate the impact and its moderators. Results show that COVID-19 cases had a significantly negative effect on tourism revenue and pricing. Specifically, a 10% increase in COVID-19 cases led to a 0.490%, 0.103%, and 0.388% decline in RevPAR, ADR, and occupancy change, respectively. Furthermore, degree of dependence on tourism, and economic support policies moderated this effect. Consequences related to revenue and demand were more remarkable for luxury tourism products than economic ones. Geographical and temporal heterogeneity were also noteworthy, and the impact of pandemic severity on revenue and demand was highly notable in certain periods, such as April and May 2020 and January to mid-March 2021. Lastly, implications are provided.

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Maternal Mortality in Ghana: Impact of the Fee-Free Delivery Policy and the National Health Insurance Scheme

International Journal of Public Health Science (IJPHS) ◽

10.11591/ijphs.v4i3.4739 ◽

2015 ◽

Vol 4 (3) ◽

pp. 232

Author(s):

Seidu Sofo ◽

Emmanuel Thompson

Keyword(s):

Health Insurance ◽

Panel Data ◽

Maternal Mortality ◽

National Health Insurance ◽

National Health ◽

Data Model ◽

Fixed Effects ◽

Panel Data Model ◽

Skilled Delivery ◽

The Impact

Maternal mortality (MMR) is the second largest cause of female deaths in Ghana. Yet, many households cannot afford the cost of skilled delivery The study utilized the Panel Data Model to examine the impact of the fee-free delivery (FDP) and the National Health Insurance Policy (NIP) exemptions on MMR in Ghana. The Demographic and Health Survey reports on Ghana from 2002 to 2009 served as the main data source. Data were analyzed using Panel data model with within group fixed effects estimator. MMR declined significantly over the period studied. Both FDP and NIP positively impacted MMR at a 5% level of significance. In addition, skilled delivery was a significant predictor of MMR. Stakeholders would do well to ensure NIP is adequately funded in order to sustain the decline in MMR.

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Exports, Misallocation, and Total Factor Productivity of Furniture Enterprises

Sustainability ◽

10.3390/su11184892 ◽

2019 ◽

Vol 11 (18) ◽

pp. 4892

Author(s):

Chang Xu ◽

Jianbing Guo ◽

Baodong Cheng ◽

Yu Liu

Keyword(s):

Total Factor Productivity ◽

Value Chain ◽

Fixed Effects ◽

Negative Impact ◽

Market Competition ◽

Fixed Effects Model ◽

Factor Productivity ◽

Labor Costs ◽

Negative Effect ◽

The Impact

With the increase in labor costs in China and the tremendous changes in the international trade environment, upgrading the total factor productivity of Chinese furniture export enterprises faces a great challenge. Lots of studies have explored the interaction of exports or misallocation on the total factor productivity (TFP) of furniture enterprises, however, there is little knowledge on the impact and interaction of both exports and misallocation on the TFP. Based on panel data of Chinese furniture enterprises, this paper measures the TFP and the distortion of labor and capital resources in Chinese furniture enterprises. A two-way fixed-effects model is used to analyze the impact of exports and misallocation on the TFP of Chinese furniture enterprises. The paper reveals several important findings. First, the TFP of Chinese furniture export enterprises is lower than that of non-export enterprises, this phenomenon is called the “export–productivity paradox”. Chinese furniture export enterprises are processing trade-oriented and labor-intensive enterprises at the low end of the value chain, exports have a negative effect on improving the TFP of furniture enterprises in the short term. Second, the distortion of labor and capital resources in Chinese furniture enterprises promotes improvements to the TFP of furniture enterprises rather than reducing the TFP of furniture enterprises. Last but not the least, we find that misallocation has a positive moderating effect on exports and can weaken the negative impact of exports on TFP by the “forced mechanism”, which is that the higher the distortion of the misallocation, the higher the cost of acquiring capital and labor, and enterprises are forced to enhance their productivity when facing market competition, thus promoting improvements to the TFP of furniture enterprises.

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The Impact of Air Pollution on the Development of Inbound Tourism in Chinese Megacities: The Case Study of Beijing, Guangzhou and Chongqing

10.3233/faia210262 ◽

2021 ◽

Author(s):

Nianlin Zhou ◽

Yeli Gu ◽

Manyuan Jiang

Keyword(s):

Air Pollution ◽

Carbon Emissions ◽

Fixed Effects ◽

Negative Influence ◽

Fixed Effects Model ◽

Fixed Investment ◽

Inbound Tourism ◽

New Business ◽

Negative Effect ◽

The Impact

The existing studies pay more attention to the impact of public transport and other public service facilities on urban air pollution and tourism, but less on the negative effect of air pollution caused by carbon emissions of business fixed investment on inbound tourism. This article attempts to make a supplementary analysis about the above point through examining the correlation between air pollution associate with business fixed investment and the size of inbound tourism based on panel data of three megacities (Beijing, Guangzhou and Chongqing) in China over the period from 2015 to 2019. The findings of this paper show that the effects of air pollution linked with carbon emissions from business fixed investment on the number of inbound tourists (NIT) is a negative correlation, while the influence of GDP per capita and tourism revenue on NIT reveal a positive relationship by applying fixed effects model for benchmark regression and the system-GMM estimator for robustness check. Moreover, the negative influence of PM 10 on sample cities is more than PM2.5. Some different results of core variables between benchmark and sub-sample regressions don’t imply the above conclusion to be substantively changed because of different distribution and concentration of nominal inbound tourists in specific sample megacities. In order to fundamentally improve air quality and to stimulate the development of inbound tourism, the suggestion of this study is to promote new business fixed investment with clean energy of renewable and low carbon.

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DOES PUBLIC DEBT HAMPER ECONOMIC GROWTH: EVIDENCE FROM EUROPEAN TRANSITIONAL COUNTRIES

Knowledge International Journal ◽

10.35120/kij34051223s ◽

2019 ◽

Vol 34 (5) ◽

pp. 1223-1228

Author(s):

Liza Alili Sulejmani ◽

Armend Ademi

Keyword(s):

Economic Growth ◽

Transition Economies ◽

Public Debt ◽

Fixed Effects ◽

Global Financial Crisis ◽

Fixed Capital Formation ◽

Negative Effect ◽

Per Capita ◽

The Impact ◽

Positive Effect

Lately, there has been an increased interest among policy makers and scholars regarding the nexus between public debt and economic growth, with emphasizes on its effects on transition economies, particularly after the last global financial crisis. This paper tries to investigate the impact of public debt on economic growth in the European transition economies, for the time spin 2000-2016, by using Pooled OLS, Fixed effects, Random effects and Hausman – Taylor Instrumental variable (IV). In addition, results reveal that public debt although has positive effect on per capita growth still is statistically insignificant, whereas debt square has negative effect on per capita GDP growth. Further, gross savings, final consumption and fixed capital formation have positive effect on per capita growth, while government expenditures do not show significant impact. Moreover, such results highlight important implications for fiscal policymakers in these countries in order to foster the economic growth in the context of public debt level.

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RESIDUAL GOVERNMENT OWNERSHIP AND FIRM VALUE IN A TRANSITIONAL ECONOMY

The Singapore Economic Review ◽

10.1142/s0217590819500334 ◽

2019 ◽

pp. 1-14 ◽

Cited By ~ 1

Author(s):

XUAN VINH VO

Keyword(s):

Firm Value ◽

Fixed Effects ◽

Stock Exchange ◽

Transitional Economy ◽

State Ownership ◽

Government Ownership ◽

Privatized Firms ◽

Negative Effect ◽

High Level ◽

The Impact

There is a high level of residual government ownership after privatization processes of state-owned firms in many transitional economies. Accordingly, the role of residual government ownership in firms in these economies draws strong attention from researchers resulting in a huge volume of papers in the literature. This naturally motivates us to examine whether state ownership affects the firm value in Vietnam, a successful transitional economy. More specifically, this paper aims to provide further insights into the impact of residual government ownership on the value of privatized firms listed on the Ho Chi Minh City stock exchange covering the period from 2009 to 2014. Using panel data techniques of fixed effects estimator, our empirical results indicate that residual government ownership have a negative effect on value of Vietnamese firms. This finding provides important implications for different stakeholders in transitional countries.

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Kebijakan Anti Dumping dan Trade Deflection: Studi Kasus Synthetic Staple Fibre Polyester (PSF)

Jurnal Ekonomi dan Pembangunan Indonesia ◽

10.21002/jepi.v10i1.106 ◽

2009 ◽

Vol 10 (1) ◽

pp. 35-52

Author(s):

Wara Agustina Rukminf ◽

Ferry Irawan

Keyword(s):

European Union ◽

Panel Data ◽

Early Warning ◽

Data Model ◽

Fixed Effects ◽

Staple Fibre ◽

Panel Data Model ◽

Negative Effect

Abstract. This research empirically examines whether a country's anti dumping policy can distort export of another country to third markets. This research tries to explore about trade deflection of Indonesia's export on Synthetic Staple Fibre Polyester (PSF) HS 550320 to non-European Union as the result of European Union's (EU) anti dumping policy on Indonesia. This research uses panel data model (fixed effects) and 20 countries (non-European Union) of Indonesia's PSF export during ten years (1996-2005). We find evidence that trade deflection for Indonesia's export on Synthetic Staple Fibre Polyester (PSF) HS 550320 occurred. Because of European Union had imposed anti dumping duty on Indonesia, Indonesia's export to nonEuropean Union had increased ranged from 25 percent to 44 percent. This result shows that dumping duty from European Union does not fully carry out negative effect for Indonesia, furthermore thisphenomena can be used as ”early warning” for Indonesia both for case of Indonesia as exporting country or third countries.

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Trade Credit as a Sustainable Resource during an SME’s Life Cycle

Sustainability ◽

10.3390/su11030670 ◽

2019 ◽

Vol 11 (3) ◽

pp. 670 ◽

Cited By ~ 3

Author(s):

Francisco-Javier Canto-Cuevas ◽

María-José Palacín-Sánchez ◽

Filippo Di Pietro

Keyword(s):

Life Cycle ◽

Data Model ◽

Fixed Effects ◽

Trade Credit ◽

Financing Decisions ◽

Sustainable Economic Growth ◽

The Impact ◽

The Empirical Analysis ◽

Major Impediment

Inadequate access to finance for small and medium-sized enterprises (SMEs) can present a major impediment to SMEs’ contribution towards driving sustainable economic growth. The aim of this article is to investigate the role of life cycle on SME financing decisions while focusing on trade credit. To this end, we study whether trade credit and its firm-factor determinants differ depending on the stage of life cycle of the SMEs. For the empirical analysis, a sample is employed of manufacturing SMEs operating in 12 European Union countries over the period 2008–2014 and a panel data model with fixed effects is applied. We find that the business life cycle influences trade credit and that this influence is stronger in young firms, although this relation is non-linear across the firms’ life cycle. We further show that the impact of firm-factor determinants on trade credit differs across the business life cycle in terms of magnitude levels. Our results demonstrate that the business life cycle matters when analysing trade credit, and it should therefore be considered when managers and policymakers strive to solve the financial problems of an SME and to consequently incorporate the SME into the sustainable economy.

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The Impacts of Charter Schools on Student Achievement: Evidence from North Carolina

Education Finance and Policy ◽

10.1162/edfp.2006.1.1.50 ◽

2006 ◽

Vol 1 (1) ◽

pp. 50-90 ◽

Cited By ~ 163

Author(s):

Robert Bifulco ◽

Helen F. Ladd

Keyword(s):

North Carolina ◽

Public Schools ◽

Panel Data ◽

Charter Schools ◽

Fixed Effects ◽

Data Set ◽

Achievement Gains ◽

Traditional Public Schools ◽

Negative Effect ◽

The Impact

Using an individual panel data set to control for student fixed effects, we estimate the impact of charter schools on students in charter schools and in nearby traditional public schools. We find that students make considerably smaller achievement gains in charter schools than they would have in public schools. The large negative estimates of the effects of attending a charter school are neither substantially biased, nor substantially offset, by positive impacts of charter schools on traditional public schools. Finally, we find suggestive evidence that about 30 percent of the negative effect of charter schools is attributable to high rates of student turnover.

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THE IMPACT OF INSTITUTIONS ON ENTREPRENEURSHIP: A CASE OF VIETNAM

Tạp chí Khoa học Đại học Đà Lạt ◽

10.37569/dalatuniversity.8.1.357(2018) ◽

2018 ◽

Vol 8 (1) ◽

pp. 22

Author(s):

Trần Thanh Trúc ◽

Trương Ngọc Hảo

Keyword(s):

Land Use ◽

Fixed Effects ◽

Quantitative Research ◽

Quantitative Research Methods ◽

Land Access ◽

Secondary Sources ◽

Entry Cost ◽

Negative Effect ◽

The Cost ◽

The Impact

This study attempts to examine the impact of institutional factors on entrepreneurship in Vietnam from 2005 to 2015. The study utilizes quantitative research methods with panel data collected from secondary sources of the General Statistics Office, Statistical Yearbook of Provinces, and the Provincial Competitiveness Index (PCI). The results based on fixed effects estimation show that the “entry cost” and “land access and stability in land use” are two indicators that have the strongest negative effect on entrepreneurship in Vietnam. Therefore, it is necessary to have specific policies to reduce the cost of market entry as well as more effective land use options to support entrepreneurship development in Vietnam.

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