ABSTRACT
This work uses a multivariate panel Granger causality test to examine the causal relationship between tourism and house prices (HP) in China’s 31 major regions for the period from 2000 to 2016, accounting for both dependency and heterogeneity across regions. The results of this study support evidence for the tourism-leading hypothesis in regions such as Anhui, Jilin, Beijing, Liaoning, Zhejiang, Chongqing and Yunnan, while the HP-leading hypothesis relationship supports evidence for a region such as Shanghai.
摘要
本研究使用了多变量面板格兰杰因果关系检验来检验从2000年到2016年中国31个主要地区的旅游和房价之间的因果关系,并解释了跨区域的依赖性和异质性。本研究结果支持在某些地区旅旅游引导假设的证据,如安徽、吉林、北京、辽宁、浙江、重庆、云南,而房价引导出的假设关系支持某些地区的证据,如上海。
Disclosure statement
No potential conflict of interest was reported by the author.
Notes
1. Here is the website for the data: http://www.stats.gov.cn/english/.
Additional information
Notes on contributors
Tsung-Pao Wu
Tsung-Pao Wu is an Associate Professor at the School of Accounting and Finance in the Beijing Institute of Technology, Zhuhai, China. He holds his PhD in finance from Feng Chia University. His major research field is applied econometrics time series analysis. (E-mail: [email protected]).