Do volatilities in tourism arrivals and foreign aids matter for GDP volatility in Cambodia? Partial and vector coherence wavelet models


Das N., Gangopadhyay P., Isik C., Alvarado R., Ahmad M.

TOURISM ECONOMICS, 2023 (SSCI) identifier

  • Publication Type: Article / Article
  • Publication Date: 2023
  • Doi Number: 10.1177/13548166231208471
  • Journal Name: TOURISM ECONOMICS
  • Journal Indexes: Social Sciences Citation Index (SSCI), Scopus, International Bibliography of Social Sciences, ABI/INFORM, CAB Abstracts, EconLit, Geobase, Hospitality & Tourism Complete, Hospitality & Tourism Index, DIALNET
  • Anadolu University Affiliated: Yes

Abstract

The purpose of this research note is to investigate the nexus between volatility in international tourist arrivals, volatility in foreign aids and gross domestic product (GDP) volatility in Cambodia over the period of 1993-2018 by using partial and vector coherence wavelet models. The partial wavelet coherence models show that volatility in tourist arrival has strong impacts on GDP volatility across all time and frequency domains. Secondly, we find from the vector wavelet coherence plots strong and significant coherence between GDP volatility and volatility in overseas development assistance to Cambodia across all time and frequency domains.