How Big? The Impact of Approved Destination Status on Mainland Chinese Travel Abroad
China’s Approved Destination Status (ADS) policy governs foreign leisure travel by citizens to ADS-designated countries. To model the effects of ADS on Chinese visitor arrivals, we specify a model of demand for a representative Chinese consumer who values trips to n differentiated foreign destinations. Using panel data for Chinese visitor arrivals for 61 countries from 1985 to 2005, we […]
Read MoreQ & A: Europe’s slow moving train wreck
1. BY FRIDAY OF LAST WEEK, US STOCK’S HAD GIVEN UP ALL OF THEIR 2012 GAINS, BUT THEN THE MARKET RALLIED BY ALMOST 3% IN THE FIRST THREE DAYS OF THIS WEEK. WHATS GOING ON? US stocks peaked this year in early April, but then weak economic news caught up with the market. A […]
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