No Cover Image

Journal article 130 views 5 downloads

Extreme risk connection among the European Tourism, energy and carbon emission markets

Hongjun Zeng, Mohammad Abedin Orcid Logo, Abdullahi D. Ahmed, Qingcheng Huang

Research in International Business and Finance, Volume: 74, Start page: 102693

Swansea University Author: Mohammad Abedin Orcid Logo

  • 68497.VoR.pdf

    PDF | Version of Record

    © 2024 The Author(s). This is an open access article under the CC BY license.

    Download (5.79MB)

Abstract

This article presents a novel examination of the risk connectedness patterns and causality relationships between European Tourism and the Energy and Carbon Emissions Market. The findings indicate that the risk connectedness between European Tourism and the Energy and Carbon Emissions Market exhibits...

Full description

Published in: Research in International Business and Finance
ISSN: 0275-5319
Published: Elsevier BV 2025
Online Access: Check full text

URI: https://cronfa.swan.ac.uk/Record/cronfa68497
Abstract: This article presents a novel examination of the risk connectedness patterns and causality relationships between European Tourism and the Energy and Carbon Emissions Market. The findings indicate that the risk connectedness between European Tourism and the Energy and Carbon Emissions Market exhibits asymmetric characteristics, displaying weaker connectedness in median and high states compared to normal market conditions. Notably, connectedness is more pronounced in extreme tail cases. Additionally, the European Tourism Sector Index is less susceptible to risks in the European Energy and Carbon Emissions market during bear markets. Furthermore, Rotterdam Coal Futures and Dutch TTF Natural Gas Futures contribute significantly to the volatility connectedness of the European Tourism Sector Index. The findings of the quantile Granger causality test confirmed the existence of causality between the European Tourism Index and the European Energy and Carbon Markets across all market states.
Keywords: European tourism sector index; European energy and carbon emissions market; Quantile connectedness; Risk spillover; Quantile granger causality
College: Faculty of Humanities and Social Sciences
Funders: Swansea University
Start Page: 102693