McAleer, Michael; Shareef, Riaz; Veiga, Bernardo da - Fondazione ENI Enrico Mattei (FEEM) - 2005
, which is a unique SITE because it relies entirely on tourism for its economic and social development. As these receipts from … international tourism are significant financial assets to the economies of SITEs, the time-varying volatility of international … tourist arrivals and their growth rate is analogous to the volatility (or dynamic risk) in financial returns. In this paper …