Tsung-Pao Wu, Hung-Che Wu, Ya-Tian Liu, Shaodian Chu, Zhiyun He
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Tourism and economic growth in Asia: a symmetric and asymmetric causality
ABSTRACTThis study aims to investigate the causal relationship between economic growth and real international tourism revenues (RITRs) in 11 Asian areas from 1995 to 2019. The method employed in this study involves utilizing a special bootstrap multivariate Granger causality test. The results of this analysis complement the findings of the asymmetric panel causality test, as they reveal a causal relationship between positive shocks to RITRs and positive shocks to real gross domestic product (RGDP) in Singapore and Thailand, respectively. Additionally, negative shocks in Cambodia, Hong Kong and Macau demonstrate a causal link between RITRs and RGDP, suggesting that fluctuations in tourism revenues can impact the economic growth of these regions.KEYWORDS: Tourismeconomic developmentsymmetric and asymmetric Granger causality testpanel dataAsia Disclosure statementNo potential conflict of interest was reported by the author(s).
期刊介绍：
Journal of Policy Research in Tourism, Leisure & Events provides a unique forum for critical discussion of public policy debates relating to the fields of tourism, leisure and events. This encompasses the economic, social, cultural, political and environmental dimensions of official intervention. In addition to high quality theoretical and empirical papers, the journal publishes contributions examining the value of contrasting methodologies, or advocacy of novel methods. Inter- and multi-disciplinary submissions are particularly welcome. In order to foster debate and extend the scope of discussion, it publishes shorter carefully argued position statements on specific, topical interventions in the Contemporary Policy Debates section. In addition, the journal’s novel Dialogues section involves ‘point/counter-point’ debates between contributors on a range of policy-related or policy research-related topics. These may interrogate key concepts from different cultural, theoretical or spatial perspectives, or discuss potential responses to a range of practical challenges involved in undertaking policy-related research in the fields of tourism, leisure and events. With a swiftly growing academic reputation, the journal is ‘B’ rated by the Australian Business Deans Council (ABDC). It has received citations from a number of senior practitioners and influential bodies, including the Organisation for Economic Cooperation and Development (OECD).
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