TITLE:
Study on Spatial Difference of the Relationship between Regional Tourism and Economic Growth—Comparative Study of Guangzhou, Shenzhen and Zhuhai in Light of VAR Model
AUTHORS:
Yu Huang, Mu Zhang
KEYWORDS:
Economic Growth, Tourism Development, VAR Model, Cointegration Test, Granger Causality, Regional Differences, Panel Data
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.6 No.3,
March
16,
2016
ABSTRACT: Based on the Eviews software and panel data of Guangzhou city, Shenzhen city and Zhuhai city, the study investigated the dynamic relationship between regional tourism and economic growth, using the methods including Cointegration Test, Granger Causality Test, VAR models and Variance Decomposition. The study result shows that there are long-term mutual effects between regional economic growth and regional tourism industry in each area. And in each area, the local GDP, Earning from International Tourism (EIT) and Earning from Domestic Tourism (EDT) have cointegration relationship. Moreover, in one certain area, the contribution rate of different factors to fluctuation of one variable changes over time.