The role of economic conditions and sustainable rural development on the sustainability of tourism development: evidence from China.

At present, tourism is counted among those industries which have gained global attention due to rapid growth. Hence, a constant diversification in terms of destination is needed in tourism development. The recent trends of industry highlight the demand of alternative tourism types, among which nature-related tourism appears to be an emerging concept. In this regard, the present article investigates the impact of economic conditions and sustainable rural development on the sustainability of tourism development in China. The current research has gathered secondary data from the World Bank from 1981 to 2020. The quartile autoregressive distributed lag model has been applied to test the association between the variables. The results revealed that GDP, inflation, FDI, exchange rate, energy use, gross savings, and sustainable rural development have a significant and positive association with the sustainability of tourism development in China. Findings offer managerial implications recommending the local government to focus on the sustainability of rural development and economic conditions that may lead to the implementation of tourism-related development projects. This study also guides the policymakers in establishing policies related to tourism development using different economic conditions and sustainable rural development.

Commodity dynamism in the COVID-19 crisis: Are gold, oil, and stock commodity prices, symmetrical?

The current research intends to examine the commodities' dynamism connection with stock prices under the COVID-19 crisis. DCC-GARCH modeling was applied to the data of Asian economies, including China, India, Sri Lanka, Bangladesh, and Pakistan to achieve the study objectives. The study's results indicated a significant connection between gold prices with stock prices and oil prices for all Asian stock markets. The results of the study constructs were symmetrical. In general, the connection grows with the frequency. The lowest frequency months contributed the most to the total relationship, followed by more than 12 months. Overall, gold and oil prices influence the Asian stock markets. These research findings can avoid contagion in times of economic uncertainty. This study also suggested policy implications for better decision-making of key stakeholders. Dynamic coefficient values were about 0.8 of ß2 because nations' internal markets were more closely linked. There are also dynamic relationship factors between crude oil and foreign currency markets, where the correlations in India and China have always been around 0.