Relationships between Inbound Tourism, Financial Development, and Economic Growth: An Empirical Study of Fujian Province, China

• 영문명: Relationships between Inbound Tourism, Financial Development, and Economic Growth: An Empirical Study of Fujian Province, China
• 발행기관: 한국유통과학회
• 저자명: An Lin LIU Yong Cen LIU
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 10 No.2, 213~222쪽, 전체 10쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2023.02.28

영문 초록

This paper mainly studies the relationship between financial development, inbound tourism development, and economic growth rate in Fujian Province, China. This study uses the data of real GDP, foreign exchange income from international tourism, and financial interrelations ratio from 1994 to 2019. In the analysis process, the Johansen cointegration test is first used to analyze whether the three have a long-term equilibrium relationship. Then the vector error correction model is established to test the restrictive relationship among the three. Next, the Granger causality test assesses whether the three have a causal relationship. Finally, the contribution rate of the three is analyzed by variance decomposition. The above methods show the following conclusions: first, the three have a long-term equilibrium relationship. Secondly, in the short term, local economic growth is constrained by inbound tourism and financial development. Thirdly, there is a causal relationship between economic growth and inbound tourism in Fujian, while there is a unidirectional causal relationship between financial development and economic growth, financial development, and inbound tourism. Fourthly, the contribution rate of inbound tourism to economic growth fluctuations in Fujian is higher than that of financial development.

목차

1. Introduction

2. Literature Review

3. Empirical Analysis and Results

4. Conclusion and Recommendations

References

키워드

Inbound Tourism Johansen Test Financial Development Granger Causality Test Economic Growth