Naslov
Measuring persistence in Croatian tourism: evidence from the Adriatic region

Autori
Gil-Alana, Luis A. ; Mervar, Andrea ; Payne, James E.

Izvornik
Applied economics (0003-6846) 47 (2015), 46; 4901-4917

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
persistence; seasonality; fractional integration; tourism; Croatia; Adriatic region

Sažetak
This study examines the degree of persistence in foreign tourist arrivals and overnight stays for seven Croatian coastal counties over the period January 1998 to December 2013 using fractional integration techniques. Our findings reveal that the respective regional tourism indicators exhibit seasonal unit roots which requires seasonal first differences to render the respective time series stationary. With respect to the long-run evolution of the respective time series both the parametric and semi-parametric fractional integration approaches show the degree of persistence is greater than zero, but significantly less than one for the majority of the coastal counties. Impulse response analysis reveals indeed shocks to the deseasonalized time series, either foreign tourist arrivals or foreign tourist overnight stays, appear short-lived with the exception of Istria and Primorje-Gorski kotar counties. Policy implications of the results are also discussed.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

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