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

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  • Kiyong Keum

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.

Suggested Citation

  • Kiyong Keum, 2011. "International Tourism and Trade Flows: A Causality Analysis Using Panel Data," Tourism Economics, , vol. 17(5), pages 949-962, October.
    • Handle: RePEc:sae:toueco:v:17:y:2011:i:5:p:949-962
    DOI: 10.5367/te.2011.0054
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    References listed on IDEAS

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    1. Satheesh Aradhyula & Russell Tronstad, 2003. "Does Tourism Promote Cross-Border Trade?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 569-579.
    2. N. Kulendran & Kenneth Wilson, 2000. "Is there a relationship between international trade and international travel?," Applied Economics, Taylor & Francis Journals, vol. 32(8), pages 1001-1009.
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    Cited by:

    1. Thangamani Bhavan, 2019. "Does Inbound Tourism Encourage Trade Deficit in Sri Lanka?," Asian Development Policy Review, Asian Economic and Social Society, vol. 7(4), pages 253-260, December.
    2. Seetaram, Neelu & Petit, Sylvain, 2012. "Panel data analysis in Tourism Research," MPRA Paper 75086, University Library of Munich, Germany.
    3. Malik, Muhammad Yousaf & Latif, Kashmala, 2021. "Impact of outbound tourism on outward FDI," Annals of Tourism Research, Elsevier, vol. 91(C).

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