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Effect of Tourism Building Investments on Tourist Revenues in China: A Spatial Panel Econometric Analysis

Author

Listed:
  • Min Zhou
  • Xiaoqun Liu
  • Bin Pan
  • Xin Yang
  • Fenghua Wen
  • Xiaohua Xia

Abstract

The development of tourism greatly promotes China’s economic growth, and tourism buildings are a core component of tourism industry. From the perspective of spatial panel econometrics, this study verifies the spatial relevance between tourism building investments and tourism economic growth in China. It is verified that the development of China’s tourism industry possesses a significant spatial clustering effect. Since the coefficient of capital is greater than that of labor, the tourism industry is primarily a labor-intensive industry in China. Tourism building investments positively and significantly affect tourism revenue which is affected by the levels of manufacturing and human capital. Robust tests are provided by separating the regions and policy implications are offered.

Suggested Citation

  • Min Zhou & Xiaoqun Liu & Bin Pan & Xin Yang & Fenghua Wen & Xiaohua Xia, 2017. "Effect of Tourism Building Investments on Tourist Revenues in China: A Spatial Panel Econometric Analysis," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 53(9), pages 1973-1987, September.
    • Handle: RePEc:mes:emfitr:v:53:y:2017:i:9:p:1973-1987
    DOI: 10.1080/1540496X.2016.1237353
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    Cited by:

    1. Jun Liu & Ziwei Wang & Changjin Li, 2023. "All-for-One Tourism Demonstration Zones and High-Quality Development of Tourism: Evidence from the Quasi-Natural Experiment in China," Sustainability, MDPI, vol. 15(15), pages 1-19, July.
    2. Chunlin Luo & Xin Tian & Xiaobing Mao & Qiang Cai, 2018. "Coordinating Supply Chain with Buy-Back Contracts in the Presence of Risk Aversion," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 35(02), pages 1-19, April.
    3. Jihong Xiao & Xuehong Zhu & Chuangxia Huang & Xiaoguang Yang & Fenghua Wen & Meirui Zhong, 2019. "A New Approach for Stock Price Analysis and Prediction Based on SSA and SVM," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 18(01), pages 287-310, January.
    4. Li, Wenlan & Cheng, Yuxiang & Fang, Qiang, 2020. "Forecast on silver futures linked with structural breaks and day-of-the-week effect," The North American Journal of Economics and Finance, Elsevier, vol. 53(C).
    5. Liu, Hong & Wang, Chang & Tian, Meiyu & Wen, Fenghua, 2019. "Analysis of regional difference decomposition of changes in energy consumption in China during 1995–2015," Energy, Elsevier, vol. 171(C), pages 1139-1149.
    6. Daxin Dong & Xiaowei Xu & Hong Yu & Yanfang Zhao, 2019. "The Impact of Air Pollution on Domestic Tourism in China: A Spatial Econometric Analysis," Sustainability, MDPI, vol. 11(15), pages 1-16, August.
    7. Zhifang He & Fangzhao Zhou, 2018. "Time-varying and asymmetric effects of the oil-specific demand shock on investor sentiment," PLOS ONE, Public Library of Science, vol. 13(8), pages 1-18, August.
    8. Liu, Zhifeng & Zhang, Tingting & Li, Wenquan & Kuang, Xiong, 2018. "The neighborhood effects of provincial-level stock market participation in China," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 509(C), pages 459-468.
    9. Lixin Tian & Huan Chen & Zaili Zhen, 2018. "Research on the forward-looking behavior judgment of heating oil price evolution based on complex networks," PLOS ONE, Public Library of Science, vol. 13(9), pages 1-18, September.
    10. Wen, Fenghua & Zhao, Cong & Hu, Chunyan, 2019. "Time-varying effects of international copper price shocks on China's producer price index," Resources Policy, Elsevier, vol. 62(C), pages 507-514.
    11. Wen, Fenghua & Ye, Zhengke & Yang, Huaidong & Li, Ke, 2018. "Exploring the rebound effect from the perspective of household: An analysis of China's provincial level," Energy Economics, Elsevier, vol. 75(C), pages 345-356.
    12. Zhujia Yin & Yantuan Yu & Jianhuan Huang, 2018. "Evaluation and evolution of bank efficiency considering heterogeneity technology: An empirical study from China," PLOS ONE, Public Library of Science, vol. 13(10), pages 1-19, October.
    13. Min Zhou & Xiaoqun Liu & Guoan Tang, 2018. "Effect of urban tourist satisfaction on urban macroeconomics in China: A spatial panel econometric analysis with a spatial Durbin model," PLOS ONE, Public Library of Science, vol. 13(10), pages 1-24, October.
    14. Wen, Fenghua & Wu, Nan & Gong, Xu, 2020. "China's carbon emissions trading and stock returns," Energy Economics, Elsevier, vol. 86(C).
    15. Xiao, Jihong & Zhou, Min & Wen, Fengming & Wen, Fenghua, 2018. "Asymmetric impacts of oil price uncertainty on Chinese stock returns under different market conditions: Evidence from oil volatility index," Energy Economics, Elsevier, vol. 74(C), pages 777-786.
    16. Qiujun Lan & Qingyue Xiong & Linjie He & Chaoqun Ma, 2018. "Individual investment decision behaviors based on demographic characteristics: Case from China," PLOS ONE, Public Library of Science, vol. 13(8), pages 1-16, August.
    17. Shihui Tian & Guowei Hua & T. C. E. Cheng, 2019. "Optimal Deployment of Charging Piles for Electric Vehicles Under the Indirect Network Effects," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 36(01), pages 1-17, February.

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