TOURISM DEVELOPMENT AND ECONOMIC GROWTH IN KOREA: CAUSAL RELATIONSHIP IN TAILS
- Authors
- Park, Sung Y.; Kim, Sang Hyuck
- Issue Date
- 2017
- Publisher
- COGNIZANT COMMUNICATION CORP
- Keywords
- Tourism growth; Causality; Robust causality; Quantile regression; Economic growth
- Citation
- TOURISM ANALYSIS, v.22, no.2, pp.149 - 165
- Journal Title
- TOURISM ANALYSIS
- Volume
- 22
- Number
- 2
- Start Page
- 149
- End Page
- 165
- URI
- https://scholarworks.bwise.kr/gachon/handle/2020.sw.gachon/7471
- DOI
- 10.3727/108354217X14888192562249
- ISSN
- 1083-5423
- Abstract
- Many empirical studies have investigated the existence of a causal relationship between a country's tourism growth and economic growth. However, the findings from these studies have been inconclusive. Some studies have found evidence of a unidirectional causal relationship, whereas others have found a bidirectional causal relationship. This inconsistency may be due to the usage of different frequencies of data or an incomplete description of the causal relationship. This study examines the causal relationship between economic growth and tourism growth in Korea using three types of Granger noncausality tests: the classical Granger noncausality test, a robust Granger noncausality test, and a Granger noncausality test in quantiles. Our empirical results provide evidence of what appears to be a bidirectional causal relationship between tourism growth and economic growth in overall quantile intervals. There is strong support that tourism growth leads to overall economic growth in Korea. However, in the reverse relationship, economic growth only has a significant effect on tourism at low quantile levels of tourism growth. These findings suggest that the causal relationship is heterogeneous and depends on different levels of tourism growth and economic growth.
- Files in This Item
- There are no files associated with this item.
- Appears in
Collections - 사회과학대학 > 관광경영학과 > 1. Journal Articles
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.