International Tourism and Trade Flows: A Causality Analysis Using Panel Data

Kiyong Keum

Tourism Economics, 2011, vol. 17, issue 5, 949-962

Abstract: Since the 1990s, the vogue of globalization and liberalization worldwide has fostered more international transactions. This paper assesses whether there is a causal link between transnational goods and people flows. Using a dynamic econometric model for the causal analysis of panel data, the study examines bilateral tourism and trade flows between Korea and its 21 trading partners worldwide over a 12-year period. The empirical results illustrate that policies aimed at boosting international human interchange may lead to an increased goods trade. The paper introduces a ‘multilevel causality analysis’ and ‘multiple causal path analysis’ to elucidate the structure and mechanism of the causal relationship between tourism and trade flows.

Keywords: tourism and trade flows; Granger causality test; panel data analysis; panel unit root test; multilevel causality analysis; multiple causal path analysis (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:17:y:2011:i:5:p:949-962

DOI: 10.5367/te.2011.0054

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