Impact of monetary policy on China's tourism market development: An application of factor -augmented vector auto-regression (FAVAR) model

被引：1

作者：

Sun, Yunpeng ^{[1
]}

Li, Haoning ^{[1
]}

Khan, Yousaf Ali ^{[2
,3
]}

机构：

[1] Tianjin Univ Commerce Tianjin, Sch Econ, Tianjin, Peoples R China

[2] Jiangxi Univ Finance & Econ, Sch Stat, Nanchang, Jiangxi, Peoples R China

[3] Hazara Univ, Dept Math & Stat, Mansehra 23010, Pakistan

来源：

CURRENT PSYCHOLOGY | 2023年 / 42卷 / 21期

关键词：

Money supply channel; Interest rate channel; Exchange rate channel; Other assets channel; China's tourist market; LED-GROWTH HYPOTHESIS; RUN ECONOMIC-GROWTH; EMPIRICAL-EVIDENCE; EXPORT GROWTH; CAUSALITY; MONEY; INVESTMENT; CHANNELS; MALAYSIA; INCOME;

D O I：

10.1007/s12144-021-02562-1

中图分类号：

B84 [心理学];

学科分类号：

04 ; 0402 ;

摘要：

The present research aims to shed light on the effects of monetary policy on China's tourism market development from 2004 to 2016. Monetary policy plays an increasingly important role in China's economy. With the Chinese economy in rapid development, the country's tourism market experienced significant growth. This study uses the Granger Causality test and factor-augmented vector auto-regression (FAVAR) model to identify the effects of monetary policy on China's tourism market through four transmission mechanism channels. Our results show that macroeconomic growth promotes China's tourism market development. Moreover, the money supply channel, exchange rate channel, and other assets channel have significant and adverse effects on China's tourism market development.

引用

页码：17769 / 17788

页数：20

共 32 条

[1] Impact of monetary policy on China’s tourism market development: An application of factor –augmented vector auto-regression (FAVAR) model
Yunpeng Sun
Haoning Li
Yousaf Ali Khan
Current Psychology, 2023, 42 : 17769 - 17788
[2] The Impact of Export on China's Labor Standards: Empirical Analysis Based on Vector Auto-regression Model
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[3] The effect of monetary policy on housing: a factor-augmented vector autoregression (FAVAR) approach
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[4] Measuring the effects of monetary policy: A factor-augmented vector autoregressive (FAVAR) approach
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[5] The effect of monetary policy on house price inflation A factor augmented vector autoregression (FAVAR) approach
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[9] Bayesian vector auto-regression model with Laplace errors applied to financial market data
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[10] Effectiveness of Monetary Policy in China: Evidence from Factor-Augmented Vector Autoregression Model
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