Original scientific paper
https://doi.org/10.37741/t.70.3.7
Nexus Between Tourism and House Prices: Quantile-on-Quantile Approaches
Tsung-Pao Wu
; School of Accounting and Finance, Beijing Institute of Technology, Zhuhai, China
Hung-Che Wu
; Kaohsiung City, Taiwan
Rui Gao
; Fintech Engineering Technology Development Center, Guangdong University of Finance, Guangzhou, China
Yu-Yu Wu
; Department of Economics, Stanford University, Stanford, USA
Abstract
This work aims to examine the relationship between tourism activities and house prices (HP) in first-tier cities (i.e., Beijing, Shanghai, and Guangzhou) of China using a quantile-on-quantile approach. This approach provides an ideal framework with which to capture the overall dependence structure between tourism activities and HP. The empirical results show that there is a positive and negative relationship between tourism and HP for the first-tier cities considered, with substantial variations across cities and across quantiles within each city. Important city-specific policy implications may be drawn from these findings.
Keywords
tourism activities; house prices; quantile-on-quantile analysis; city; China
Hrčak ID:
279106
URI
Publication date:
13.6.2022.
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