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Energy-Related Uncertainty and Tourism Stock Markets: New Insights from Time-Varying Relationship with TVP- VAR Approach

Zоkir MamadiyarоvOtabek SaidovDepartment of Economics, Urgench State University, Urgench, UzbekistanNargiza AbdurazakovaСамариддин МахмудовDepartment of Finance and Tourism, Termez University of Economics and Service, Termez, Uzbekistan; & Center of the Engagement of International Ranking Agencies, Tashkent State University of Economics, Tashkent, UzbekistanMurod NazarovDepartment of Translation Theory and Practice, Urgench State University, Home 14, Kh. Alimjan Str., 220100 Urgench, UzbekistanNilufar RajabovaUrgench State Pedagogical Institute, Urgench, UzbekistanMohamed AlshamiUniversity of Fujairah, Fujairah, UAE,Iroda RuzmetovaDepartment of Economics, Urgench State University, Home 14, Kh. Alimjan Str., 220100 Urgench, Uzbekistan

International Journal of Energy Economics and Policyjournal2025en

ABI

Annotatsiya

In this study, a time-varying parameter vector autoregressive (TVP-VAR) model is estimated to examine the effects of energy-related uncertainty, geopolitical risk and global economic activity on tourism stock prices in the United States (US) over the period February 1996-September 2022. The time-varying responses reveal that tourism stocks are negatively affected by energy-related uncertainty, particularly during financial crisis and COVID-19. Moreover, geopolitical risk shocks also negatively influence tourism stocks. Global economic activity exhibits both positive and negative shocks in tourism stocks. The results highlight the importance of considering sector-specific dynamics of energy-related uncertainty on tourism stocks in US.

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Mavzular

Market Dynamics and Volatility Energy, Environment, Economic Growth Energy, Environment, and Transportation Policies

Identifikatorlar

DOI: 10.32479/ijeep.20480

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