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Souvenir production in community-based tourism and poverty reduction in Thailand

Author

Listed:
  • Yuthana Sethapramote

    (National Institute of Development Administration)

  • Suthawan Prukumpai

    (National Institute of Development Administration)

Abstract

This paper examines the time variation in return volatility in the Stock Exchange of Thailand during 1975-2010. Using GARCH-type methodology, together with Bai and Perron’s structural break test, we find that there are two structural breaks in the mean of the conditional volatility of both daily and monthly returns. The empirical analysis in this paper reveals that the structural changes in returns volatility are more likely to be a consequence of policy and regulatory change rather than economic crisis.

Suggested Citation

  • Yuthana Sethapramote & Suthawan Prukumpai, 2012. "Souvenir production in community-based tourism and poverty reduction in Thailand," The Empirical Econometrics and Quantitative Economics Letters, Faculty of Economics, Chiang Mai University, vol. 1(3), pages 113-130, September.
    • Handle: RePEc:chi:journl:v:1:y:2012:i:3:p:113-130
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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