The impact of financial innovation and infrastructure on inbound tourism in Central Asia
This empirical study investigates the effect of financial innovation and infrastructure on inbound tourism in Central Asia, along with trade openness as a control variable. This study developed an infrastructure index for Central Asia comprised of different parameters of infrastructure. The data has...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2024-03-01
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| Series: | Journal of Open Innovation: Technology, Market and Complexity |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2199853123002779 |
| _version_ | 1797217128870313984 |
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| author | Ihtisham ul Haq Jamshid Pardaev Piratdin Allayarov Shahid Munir |
| author_facet | Ihtisham ul Haq Jamshid Pardaev Piratdin Allayarov Shahid Munir |
| author_sort | Ihtisham ul Haq |
| collection | DOAJ |
| description | This empirical study investigates the effect of financial innovation and infrastructure on inbound tourism in Central Asia, along with trade openness as a control variable. This study developed an infrastructure index for Central Asia comprised of different parameters of infrastructure. The data has been assessed for cross-sectional dependence, unit root and coefficients of parameters were obtained by pooled mean group autoregressive distributed lagged model and simultaneous quantile regression. Results show that financial innovation and trade openness have a significant and positive effect on inbound tourism in the long run whereas infrastructure has an insignificant effect. Dynamic stability analysis confirms that the model of the study is stable and will adjust itself from any imbalance within three years of span. The results of quantile regression highlight that financial innovation is positively associated with tourism development in Central Asia irrespective of quantile (Q25, Q50, Q75). Policy implications are provided based on research findings. |
| first_indexed | 2024-03-10T04:31:15Z |
| format | Article |
| id | doaj.art-d49420524a344beea539f067e66b894e |
| institution | Directory Open Access Journal |
| issn | 2199-8531 |
| language | English |
| last_indexed | 2024-04-24T11:56:56Z |
| publishDate | 2024-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj.art-d49420524a344beea539f067e66b894e2024-04-09T04:12:45ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312024-03-01101100175The impact of financial innovation and infrastructure on inbound tourism in Central AsiaIhtisham ul Haq0Jamshid Pardaev1Piratdin Allayarov2Shahid Munir3Department of Economics, Kohat University of Science and Technology, Kohat, KP 26000, Pakistan; Corresponding author.Department of Economics, Faculty of Economics and Information technologies, Termez University of Economics and Service, Termez, UzbekistanDepartment of Mathematical Methods in Economics, Faculty of Digital Economy, Tashkent State University of Economics, Tashkent, UzbekistanDepartment of Economics, Kohat University of Science and Technology, Kohat, KP 26000, PakistanThis empirical study investigates the effect of financial innovation and infrastructure on inbound tourism in Central Asia, along with trade openness as a control variable. This study developed an infrastructure index for Central Asia comprised of different parameters of infrastructure. The data has been assessed for cross-sectional dependence, unit root and coefficients of parameters were obtained by pooled mean group autoregressive distributed lagged model and simultaneous quantile regression. Results show that financial innovation and trade openness have a significant and positive effect on inbound tourism in the long run whereas infrastructure has an insignificant effect. Dynamic stability analysis confirms that the model of the study is stable and will adjust itself from any imbalance within three years of span. The results of quantile regression highlight that financial innovation is positively associated with tourism development in Central Asia irrespective of quantile (Q25, Q50, Q75). Policy implications are provided based on research findings.http://www.sciencedirect.com/science/article/pii/S2199853123002779Financial innovationInfrastructureTrade opennessInbound tourismCentral Asia |
| spellingShingle | Ihtisham ul Haq Jamshid Pardaev Piratdin Allayarov Shahid Munir The impact of financial innovation and infrastructure on inbound tourism in Central Asia Journal of Open Innovation: Technology, Market and Complexity Financial innovation Infrastructure Trade openness Inbound tourism Central Asia |
| title | The impact of financial innovation and infrastructure on inbound tourism in Central Asia |
| title_full | The impact of financial innovation and infrastructure on inbound tourism in Central Asia |
| title_fullStr | The impact of financial innovation and infrastructure on inbound tourism in Central Asia |
| title_full_unstemmed | The impact of financial innovation and infrastructure on inbound tourism in Central Asia |
| title_short | The impact of financial innovation and infrastructure on inbound tourism in Central Asia |
| title_sort | impact of financial innovation and infrastructure on inbound tourism in central asia |
| topic | Financial innovation Infrastructure Trade openness Inbound tourism Central Asia |
| url | http://www.sciencedirect.com/science/article/pii/S2199853123002779 |
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