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DOES US STOCK MARKET PERFORMANCE EXPLAIN US ARRIVALS TO ANGUILLA

This paper examines whether the performance of US stock markets as measured by the S&P500 explain arrivals of US tourist to Anguilla. More specifically this paper test for cointegration between the S&P500 and US stay over arrivals to Anguilla. Evidence for cointegration was found only in the univariate case using the Engle Granger technique. That finding was robust to the choice of US equity market and was also observed in Antigua and Barbuda, Grenada and St. Lucia. Other techniques such as the Johansen showed that oil prices was related to arrivals whiles ARDL bounds test suggested no long run relationships amoung the selected variables.
 

Does US Stock Market Performance Explain US Arrivals to Anguilla