Title :
An Empirical Study on the Relationship of Real Exchange Rate of RMB and Chinese Inbound Tourism from America
Author :
Zhang, Genneng ; Pu, Tingting ; Zhang, Pei
Author_Institution :
Fac. of Econ. & Manage., Xi´´an Univ. of Technol., Xi´´an, China
Abstract :
Adopting the econometric methodology of unit root test and co-integration analysis, this paper makes an empirical analysis on the relationship of real exchange rate of RMB and Chinese inbound tourism from America. It finds that there exists a long-run co-integration relationship among Real exchange rate of RMB, American economy and Chinese inbound tourism from America. The elasticity coefficient of Chinese inbound tourism from America to American economy is 6.02, on the high side. The elasticity of Chinese inbound tourism from America to Real exchange rate of RMB is small, the elasticity coefficient is 1.62.It also finds that both Real exchange rate of RMB and American real GDP are the Granger causes of Chinese inbound tourism from America, and Chinese inbound tourism from America is also the Granger cause of America real GDP, but Chinese inbound tourism from America is not the Granger cause of Real exchange rate of RMB.
Keywords :
causality; econometrics; economic indicators; exchange rates; statistical analysis; travel industry; American economy; American real GDP; Chinese inbound tourism; Granger cause; RMB real exchange rate; cointegration analysis; cointegration relationship; econometric methodology; elasticity coefficient; unit root test; Analytical models; Econometrics; Economic indicators; Exchange rates; Time series analysis; Yttrium;
Conference_Titel :
Management and Service Science (MASS), 2011 International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-6579-8
DOI :
10.1109/ICMSS.2011.5998709
