Purpose - As the world grapples with the pervasive effects of the coronavirus pandemic, a notable disconnect has emerged in the public's understanding of scientific and medical research. Particularly, the travel industry has become unquestionably vulnerable amid the COVID-19 outbreak; this...

This paper proposes a novel approach to quantitatively estimating the magnitude of China's capital flight through the travel channel from 2014 to 2020. We set 2014 as the break point, to account for a change in the methodology of compiling outbound travel expenditure. We adopt a counterfactual...