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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. Seetaram, Neelu & Petit, Sylvain, 2012. "Panel data analysis in Tourism Research," MPRA Paper 75086, University Library of Munich, Germany.
    2. 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.
    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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