Domestic air passenger traffic and economic growth in China: Evidence from heterogeneous panel models |
| |
| Institution: | 1. School of Management, University of Chinese Academy of Sciences, No. 80 Zhongguancun East Road, Haidian District, Beijing 100190, China;2. Business School, Sichuan University, No. 29 Wangjiang Road, Chengdu 610064, China;3. School of International Trade and Economics, University of International Business and Economics, No. 10 Huixin East Street, Chaoyang District, Beijing 100029, China;4. School of Information Management, Central China Normal University, No. 152 Luoyu Road, Wuhan 430079, China;5. Academy of Mathematics and Systems Science, Chinese Academy of Sciences, No. 55 Zhongguancun East Road, Haidian District, Beijing 100190, China;1. School of Finance, College of Business and Public Management, Kean University, NJ, USA;2. Wenzhou-Kean University Campus, Wenzhou, PR China;3. Department of Business Administration, University of the Punjab, Gujranwala Campus, Pakistan;4. Department of Economics, University of Wah, Quaid Avenue, Wah Cantt, Pakistan;5. Hailey College of Banking and Finance, University of the Punjab, Lahore, Pakistan;6. Arriyadh Community College, King Saud University, Riyadh, Saudi Arabia;7. KSA Workers University, Cairo, Egypt;8. College of Business Administration, King Saud University, Muzahimiyah, Saudi Arabia;9. Bina Nusantara University, Faculty of Humanities, Jakarta, Indonesia;10. Faculty of Education, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia;11. Faculty of Management, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia;12. Department of Economics, Wuhan University, Wuhan, China;1. Department of Economics, Trent University, Peterborough, Ontario K9J 7B8, Canada;2. Vinod Gupta School of Management, Indian Institute of Technology, Kharagpur 721302, India;3. Department of Economics, University of Melbourne, Victoria 3010, Australia;4. Department of Economics, University of Cambridge, Cambridge CB3 9DD, UK |
| |
| Abstract: | This paper applies recent panel methodology to examine the short-run dynamics, the long-run equilibrium relationships and the Granger causal relationship between economic growth and domestic air passenger traffic. It is based on the quarterly panel data of 29 provinces in China from the period of 2006Q1 to 2012Q3. Tests for panel unit roots, cointegration in heterogeneous panels and panel causality are employed in a bi-variate panel vector error correction model (PVECM), which is estimated by the system generalized moment method (SYS-GMM). The results show evidence of a long-run equilibrium relationship between economic growth and domestic air passenger traffic. Specifically, 1% increase in the air passenger traffic is found to lead to an increase of 0.943% in real gross domestic product (GDP). A long-run and strong bi-directional Granger causal relationship is found between these two series. It is also found that there is a short-run uni-directional Granger causality running from the domestic air passenger traffic to the economic growth. |
| |
| Keywords: | Air passenger traffic Economic growth Heterogeneous panels Panel Granger causality L93 R41 C23 |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
