THE EFFECT OF FINANCIAL AND ECONOMIC GROWTH ON TOURISM DEVELOPMENT IN EMERGING ECONOMIES: A STUDY OF VIETNAM FOR THE INTERVAL 1990-2020.

IF 1.2 Q3 HOSPITALITY, LEISURE, SPORT & TOURISM

Tourism and Hospitality Management-Croatia Pub Date : 2022-12-01 DOI:10.20867/thm.28.3.9

Thi Phuong Thao Hoang

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引用次数: 0

Abstract

Purpose - The primary study objective is to determine the interaction between economic, financial, and tourism development in Vietnam for the 1990-2020 intervals. Design - This study is conducted through a combination of qualitative and quantitative methods using secondary data from WorldBank, Ourworldindata, and the Vietnam Bureau of Statistics. Methodology: The ARDL model is a statistically more robust approach for cointegration testing; then the ECM model was used to test for short-term effects and finally the Granger test for causality between the observed variables. Findings - Investigating the vital internal force that promotes tourism development reveals that finance and economic growth are crucially crucial during the 31-year study period. To illustrate, the economic and financial contribution to the positive change of tourism is up to 30.4% and 18.1%, respectively. Excitedly, the Granger test demonstrates a one-way causal relationship between economic growth and tourism development, tourism development, and finance development, and finance development and economic growth. In other words, it is a circle that demonstrates a consistently positive impact from tourism development to finance development, from finance development to economic growth, and finally, from economic growth to tourism development. The originality of the research - This paper highlights the role and impact level of the economic and financial sector on the tourism industry of a new Asian tiger and can be considered as the first study on Vietnam. The findings investigate how the economy functioned in the past and support policymakers in establishing future development policies, particularly in post-pandemic recovery.

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金融和经济增长对新兴经济体旅游业发展的影响：1990-2020年期间越南的研究。

目的-主要研究目标是确定1990-2020年期间越南经济、金融和旅游发展之间的相互作用。设计-本研究通过定性和定量相结合的方法进行，使用来自世界银行，我们的世界数据和越南统计局的二手数据。方法:ARDL模型是统计上更稳健的协整检验方法;然后用ECM模型检验短期效应，最后用Granger检验观察变量之间的因果关系。调查结果-调查促进旅游业发展的重要内在力量表明，在31年的研究期间，金融和经济增长至关重要。为了说明，经济和财政对旅游业的积极变化的贡献分别高达30.4%和18.1%。令人兴奋的是，格兰杰检验证明了经济增长与旅游发展、旅游发展与金融发展、金融发展与经济增长之间存在单向因果关系。换句话说，它是一个从旅游发展到金融发展，从金融发展到经济增长，最后从经济增长到旅游发展的持续正向影响的循环。研究的独创性-本文突出了经济和金融部门对亚洲新虎旅游业的作用和影响程度，可以被认为是对越南的第一次研究。这些发现调查了过去经济的运作方式，并支持决策者制定未来的发展政策，特别是在大流行后的复苏中。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Tourism and Hospitality Management-Croatia HOSPITALITY, LEISURE, SPORT & TOURISM-

CiteScore

1.90

自引率

23.10%

发文量

审稿时长

15 weeks

期刊介绍： Tourism and Hospitality Management is an international, multidisciplinary, open access journal, aiming to promote and enhance research in all fields of the tourism and hospitality industry. It publishes double-blind reviewed papers and encourages an interchange between tourism and hospitality researchers, educators and managers. Editors of Tourism and Hospitality Management strongly promote research integrity and aim to prevent any type of scientific misconduct, such as: fabrication, falsification, plagiarism, redundant publication and authorship problems. All submitted manuscripts are checked using Crossref Similarity Check (iThenticate). Nurturing a scientifically based approach to research, the journal publishes original papers along with empirical research and theoretical articles that contribute to the conceptual development of tourism and hospitality management. Editors look particularly for articles about new trends, challenges and developments, as well as the application of new ideas that are likely to affect the tourism and hospitality industry. The general criteria for the acceptance of articles are: contribution to the scientific knowledge in the field of tourism and hospitality management, scientifically reliable research methodology, relevant literature review and quality of the English language.