To capture the role of politics in tourism, we propose a novel measure to quantify political relations based on text analysis published diplomatic statements. We explain how affect outbound tourist flows from China Japan and Korea. Estimated monthly data (1997m1-2018m12), our model shows China-Japan disputes Korea China-Korea clashes influence number Chinese tourists going Japan. The effects ar...

Earlier Sections in this Report have sought to understand why international cooperation in trade matters seems to make sense to governments and how such cooperation translates into institutions and rules. We will now focus on the main achievements of multilateral trade cooperation over the last six decades and explore some of the core challenges and issues that the system faces today. The Secti...