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An Evaluation of Coupling Coordination between Tourism and Finance

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  • Kai-Cheng Liao

    (Business School, Jishou University, Jishou 416000, China
    Business School, Central South University, Changsha 410083, China
    School of Business, Wuyi University, Nanping 354300, China)

  • Ming-Yue Yue

    (School of Business Administration, Hunan University, Changsha 410082, China)

  • Si-Wei Sun

    (International Business School Suzhou, Xi’an Jiaotong-Liverpool University, Suzhou 215123, China)

  • Hong-Bo Xue

    (Business School, Nankai University, Tianjin 300071, China)

  • Wei Liu

    (School of Business, Wuyi University, Nanping 354300, China)

  • Sang-Bing Tsai

    (Zhongshan Institute, University of Electronic Science and Technology of China, Zhongshan 528400, China
    College of Business Administration, Capital University of Economics and Business, Beijing 100070, China)

  • Jiang-Tao Wang

    (Zhongshan Institute, University of Electronic Science and Technology of China, Zhongshan 528400, China)

Abstract

The tourism industry has become a new growth engine that closely coordinates with the financial industry and contributes to the sustainable development of local economies. This study establishes a comprehensive index system and evaluates the coupling coordination based on an integrated approach, and the dynamic relationship between tourism and finance through applying coupling coordination degree modeling, the Granger causality test, and an impulse response function based on the regional coordination theory and system theory. Using data from 2000 to 2016 of three tourism-based cities in China, the findings reveal heterogeneous results among the cities. Specifically, the following: (1) The coupling coordination degree between finance and tourism in Zhangjiajie increased with strong fluctuations. A one-way causality relationship existed between two subsystems, and finance continuously contributed to the growth of tourism with serious lags; (2) The coupling coordination degree between finance and tourism in Huang Shan presented a ladder-type and continuous rise. A two-way causality relationship existed between the two subsystems mentioned above, and finance influenced the growth of tourism with continuously positive or negative effects, while tourism continuously contributed to the development of finance. (3) The coupling coordination degree between finance and tourism in Sanya grew with a frequent, tiny, and fluctuating trend. A two-way causality relationship existed between the two subsystems mentioned above, and finance influenced the growth of tourism with continuously positive or negative effects, while tourism influenced the development of finance with temporary positive or negative effects.

Suggested Citation

  • Kai-Cheng Liao & Ming-Yue Yue & Si-Wei Sun & Hong-Bo Xue & Wei Liu & Sang-Bing Tsai & Jiang-Tao Wang, 2018. "An Evaluation of Coupling Coordination between Tourism and Finance," Sustainability, MDPI, vol. 10(7), pages 1-23, July.
    • Handle: RePEc:gam:jsusta:v:10:y:2018:i:7:p:2320-:d:156251
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