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Kim, Hyun Jeong; Chen, Ming-Hsiang; Jang, SooCheong “Shawn”
Tourism management (1982), 10/2006, Volume: 27, Issue: 5Journal Article
This study examines the causal relationship between tourism expansion and economic development in Taiwan. A Granger causality test is performed following the cointegration approach to reveal the direction of causality between economic growth and tourism expansion. Test results indicate a long-run equilibrium relationship and further a bi-directional causality between the two factors. In other words, in Taiwan, tourism and economic development reinforce each other. A discussion follows and managerial implications are identified based on the empirical findings.
