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The contribution of tourism development to economic growth in the Korean economy

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  • The contribution of tourism development to economic growth in the Korean economy
  • Oh, Chi-Ok
  • Elsevier Science Ltd


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Title The contribution of tourism development to economic growth in the Korean economy
Similar Titles
Material Type Articles
Author(English)

Oh, Chi-Ok

Publisher

[London]:Elsevier Science Ltd

Date 2005-02
Journal Title; Vol./Issue Tourism Management:vol. 26(issue 1)
Pages 6
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Macroeconomics
Industry and Technology < Others
Holding Elsevier Science Ltd

Abstract

This study investigates the causal relations between tourism growth and economic expansion for the Korean economy by using Engle and Granger two-stage approach and a bivariate Vector Autoregression (VAR) model. Two principle results emerge from this study. First, the results of a cointegration test indicate that there is no long-run equilibrium relation between two series. Second, the outcomes of Granger causality test imply the one-way causal relationship of economic-driven tourism growth. The hypothesis of tourism-led economic growth is not held in the Korean economy. This consequence is supported by testing the sensitivity of causality test under different lag selections along with the optimal lag.