An evaluation of coupling coordination between tourism and finance

Kai Cheng Liao, Ming Yue Yue, Si Wei Sun*, Hong Bo Xue, Wei Liu, Sang Bing Tsai, Jiang Tao Wang

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

55 Citations (Scopus)

Abstract

The tourism industry has become a new growth engine that closely coordinates with the financial industry and contributes to the sustainable development of local economies. This study establishes a comprehensive index system and evaluates the coupling coordination based on an integrated approach, and the dynamic relationship between tourism and finance through applying coupling coordination degree modeling, the Granger causality test, and an impulse response function based on the regional coordination theory and system theory. Using data from 2000 to 2016 of three tourism-based cities in China, the findings reveal heterogeneous results among the cities. Specifically, the following: (1) The coupling coordination degree between finance and tourism in Zhangjiajie increased with strong fluctuations. A one-way causality relationship existed between two subsystems, and finance continuously contributed to the growth of tourism with serious lags; (2) The coupling coordination degree between finance and tourism in Huang Shan presented a ladder-type and continuous rise. A two-way causality relationship existed between the two subsystems mentioned above, and finance influenced the growth of tourism with continuously positive or negative effects, while tourism continuously contributed to the development of finance. (3) The coupling coordination degree between finance and tourism in Sanya grew with a frequent, tiny, and fluctuating trend. A two-way causality relationship existed between the two subsystems mentioned above, and finance influenced the growth of tourism with continuously positive or negative effects, while tourism influenced the development of finance with temporary positive or negative effects.

Original languageEnglish
Article number2320
JournalSustainability (Switzerland)
Volume10
Issue number7
DOIs
Publication statusPublished - 4 Jul 2018
Externally publishedYes

Keywords

  • Coupling coordination
  • Dynamic relationship
  • Finance
  • Sustainable development
  • Tourism

Fingerprint

Dive into the research topics of 'An evaluation of coupling coordination between tourism and finance'. Together they form a unique fingerprint.

Cite this