{'fraction_non_alphanumeric': 0.015834348355663823, 'fraction_numerical': 0.0097442143727162, 'mean_word_length': 5.523809523809524, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 0, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
International Tourism and Trade Flows: A Causality Analysis Using Panel Data

Since the 1990s, the vogue of globalization and liberalization worldwide has fostered more international transactions. This paper assesses whether there is a causal link between transnational goods and people flows. Using a dynamic econometric model for the causal analysis of panel data, the study examines bilateral tourism and trade flows between Korea and its 21 trading partners worldwide over a 12-year period. The empirical results illustrate that policies aimed at boosting international human interchange may lead to an increased goods trade. The paper introduces a ‘multilevel causality analysis’ and ‘multiple causal path analysis’ to elucidate the structure and mechanism of the causal relationship between tourism and trade flows.