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HERYÁN, Tomáš. Tourism as an important factor for creating nominal effective exchange rates: Does it impact on exports and imports of services in the Czech Republic? Zagreb: Innovation Institute, 2019. p. 42-53, 10 pp. ISSN 1848-2252.
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Basic information
Original name Tourism as an important factor for creating nominal effective exchange rates: Does it impact on exports and imports of services in the Czech Republic?
Authors HERYÁN, Tomáš.
Edition Zagreb, p. 42-53, 10 pp. 2019.
Publisher Innovation Institute
Other information
Original language English
Type of outcome Proceedings paper
Field of Study 50206 Finance
Country of publisher Croatia
Confidentiality degree is not subject to a state or trade secret
Publication form printed version "print"
Organization unit School of Business Administration in Karvina
ISSN 1848-2252
Tags J-curve, tourism
Tags International impact, Reviewed
Links SGS/7/2018, research and development project.
Changed by Changed by: Ing. Tomáš Heryán, Ph.D., učo 16183. Changed: 30/1/2020 08:20.
Abstract
The business environment has changed according to macroeconomic development, especially in a turbulent period since 2008, and its impact on the exchange rates development. However, tourism companies, hotels as well as travel agencies, in particular, are facing the exchange rate exposure just due to the basics of their business. This particular paper has focused on tourism and its possible usage in examining nominal effective exchange rates. According to its location, even the country as the Czech Republic would be an interesting destination for tourists from abroad. The aim of this paper is to examine those short- and long-term effects of exchange rate changes on international trade in services in the Czech Republic. Secondary data were obtained for a representative sample of countries according to inbound tourism in the Czech Republic. The focus variables were both, export and import of services within the balance of payment in the Czech Republic as a domestic country and its gross domestic product, then gross products of selected foreign countries and exchange rates of their currencies against the Czech Koruna. To investigate both, the long-term, as well as the short-term relationship between selected variables, it has been chosen Johansen cointegration tests and the Vector Error Correction model. Quarterly data are obtained from the OECD statistical database for ten years, the period from 2008 to 2017. The results of this study can be implemented not only within the Czech economy. According to the results, policymakers should be motivated to increase financial support to tourism nowadays.
Displayed: 2/12/2021 16:04