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Inclusive financial reform, degree of openness to the outside world, and regional international tourism development: Evidence from a quasi-natural experiment

Author

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  • Fan, Di
  • Bin Ab Razak, Nazrul Hisyam
  • Soh, Wei Ni

Abstract

This study selects data from Chinese prefecture-level cities between 2007 and 2023 as the research sample. Based on the quasi-natural experiment of inclusive finance reform experimental zones, it deeply explores the relationship between inclusive finance reform, the degree of openness, and the development of international tourism. The findings reveal a significant positive correlation between inclusive finance reform and the level of international tourism development. Additionally, the impact of inclusive finance reform varies between high-income and low-income regions. The degree of openness also plays a significant moderating role in the relationship between inclusive finance reform and international tourism development.

Suggested Citation

  • Fan, Di & Bin Ab Razak, Nazrul Hisyam & Soh, Wei Ni, 2025. "Inclusive financial reform, degree of openness to the outside world, and regional international tourism development: Evidence from a quasi-natural experiment," Finance Research Letters, Elsevier, vol. 84(C).
    • Handle: RePEc:eee:finlet:v:84:y:2025:i:c:s1544612325010918
    DOI: 10.1016/j.frl.2025.107833
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    References listed on IDEAS

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