Abstract
This article provides a macro analysis to investigate the relationship between e-book collection growth and the decline of total circulation transactions, using data compiled from Hong Kong's eight academic libraries for the period 2007–2011. An econometrics analysis is applied to evaluate the overall impact of a critical mass of e-book collection on use of print books in a region. Based on empirical studies in Hong Kong, this study observed that although the increase in e-books indeed contributes to a drop in the total circulation transactions, it is not the biggest the contributing factor. From the comparison of elasticity measurement, the cross-elasticity of substitution of e-books for print books is –0.11. The e-books are not the perfect substitute for print books. The most important finding in this study is that the main culprit for the decline of total circulation transactions in Hong Kong academic libraries is attributed to the decline in the annual addition of print books in general; total circula...
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