An empirical research on the relation between the air transportation and economic growth

Abstract

Civil aviation transportation industry is an important department of social economy, and plays an important role in the development of economy. The relationship of the development of civil aviation and economic growth has become research focus in research and industry field. This paper is based on the cointegration theory in econometrics, through establishing the long-run equilibrium equation and the error correction model, and adopting the statistics of Gross Domestic Product and the total turnover of air transport, in order to inculcate an empirical study on the relationship between the air transport and economic growth. The results show that economic growth can significantly promote the development of civil aviation, on the contrary, the development of civil aviation has a strong catalytic role on economic growth. Finally, the paper analyzes the reasons for the results, and gives some recommendations.