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An Empirical Study on Tourism and Economic Growth of China

WU Zhong-cai

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Abstract

According to empirical study,this paper indicates that there is a long-term stability cointegration relation among domestic tourism,economic growth and inbound tourism.Through the cointegration model,elasticities of economy growth and inbound tourism to the domestic tourism are 0.21 and 1.02.There are Granger causalities from LGDP to LDR,and LIR to LDR.Variance decomposition analyses the contribution of each structure attacking to endogenous variables finally.

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What this paper is about

According to empirical study,this paper indicates that there is a long-term stability cointegration relation among domestic tourism,economic growth and inbound tourism.Through the cointegration model,elasticities of economy growth and inbound tourism to the domestic tourism are 0.21 and 1.02.There are Granger causalities from LGDP to LDR,and LIR to LDR.Variance decomposition analyses the contribution of each structure attacking to endogenous variables finally.

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Available abstract

According to empirical study,this paper indicates that there is a long-term stability cointegration relation among domestic tourism,economic growth and inbound tourism.Through the cointegration model,elasticities of economy growth and inbound tourism to the domestic tourism are 0.21 and 1.02.There are Granger causalities from LGDP to LDR,and LIR to LDR.Variance decomposition analyses the contribution of each structure attacking to endogenous variables finally.

Key concepts: Cointegration, Tourism, Economics, China, Variance decomposition of forecast errors, Econometrics, Variance (accounting), Empirical research

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