Sustainability, Journal Year: 2025, Volume and Issue: 17(8), P. 3716 - 3716
Published: April 20, 2025
This research analyzes the influence of economic policy uncertainty (EPU) on energy consumption driven by tourism in Macau, employing a structural vector autoregression (SVAR) model with sign restrictions. The SVAR facilitates identification EPU shocks imposing restrictions impulse responses, providing nuanced understanding dynamic effects uncertainty. Employing quarterly data from first quarter 2002 to fourth 2024, findings demonstrate that result sustained reductions GDP, hotel occupancy rates, and usage. Our analysis highlights significant role Mainland China’s influencing Macau’s economy, emphasizing vulnerability tourism-dependent economies policy-induced variations. novelty this lies its integrated framework, exploring interconnectedness EPU, tourism, consumption, thus filling gap existing literature. Additionally, study contributes sustainability how is intricately linked sustainable management strategies can help mitigate adverse impacts these uncertainties. provide key insights for policymakers aiming enhance resilience sustainability, underscoring importance reducing through transparent policies diversification.
Language: Английский