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The Nexus Between Tourism and Economic Growth in E-7 Countries: Asymmetric Panel Causality Analysis

Yıl 2018, Sayı: 58, 130 - 142, 19.10.2018

AYŞEGÜL Yıldız Mahmut Zortuk

Öz

Tourism,
one of the most important sectors of the world economy, plays an important role
in the economic development of many countries. With globalization, the number
of tourist visits to the four sides of the world is increasing; which leads to
increased investment in tourism sector in developed and developing countries.
In this respect, tourism has become one of the fastest growing and most
important sectors of the world. In this study where the annual data for the
1995-2016 time period are used, the relationship between the tourism incomes
and economic growth variables of the fastest growing and developing E-7
countries  is examined by the asymmetric
panel causality method developed by Hatemi-J (2011). As a result of the
empirical findings, it is concluded that there is a causal relationship between
tourism revenues and economic growth. A positive shock emerged in tourism
revenues caused economic growth. Besides, it has been found that tourism
incomes tend to give a negative response in case of a negative shock in the
economic growth variable. 

Anahtar Kelimeler

Economic growth tourism revenues asymmetric panel causality test

Kaynakça

  • Akerlof, G. (1970). The market for lemons: Quality, uncertainty and the market mechanism. Quarterly Journal of Economics, 84: 485-500.
  • Altıntaş, H., & Mercan, M. (2015). AR-GE Harcamaları ve Ekonomik Büyüme İlişkisi: OECD Ülkeleri Üzerine Yatay Kesit Bağımlılığı Altında Panel Eşbütünleşme Analizi. Ankara Üniversitesi SBF Dergisi, 70(2).
  • Balaguer, J., & Cantavella-Jorda, M. (2002). Tourism as a long-run economic growth factor: The Spanish case. Applied Economics, 34, 877–884.
  • Bramwell, B., & Lane, B. (1993). Sustainable tourism: an evolving global approach. Journal of Sustainable Tourism, 1(1), 6-16.
  • Breuer, J. B., McNown, R., & Wallace, M. (2002). Series‐specific unit root tests with panel data. Oxford Bulletin of Economics and statistics, 64(5), 527-546.
  • Breusch, T. S. ve Pagan, A. R. (1980). “The Lagrange Multiplier Test And Its Applications To Model Specification In Econometrics”. Review Of Economic Studies, Blackwell Publishing. 47 (1), 239-253.
  • Brida J.G., Pereryra, J., Risso W.A., Devesa M.J.S. and Aguirre S.Z. (2008). “The Tourismled growth hypothesis: Empirical evidence from Colombia”. An International Multidisciplinary Journal of Tourism, 4 (2): 13-27.
  • Brida, J.G., and Pulina, M. (2010). “A literature review on the tourism-led-growth hypothesis”. Fondazione Eni Enrico Mattei Working Papers Series 26.
  • Chang, Y. (2002). Nonlinear IV unit root tests in panels with cross-sectional dependency. Journal of econometrics, 110(2), 261-292.
  • Christopher A. Sims The American Economic Review Vol. 62, No. 4 (Sep., 1972), pp. 540-552.
  • Crotti, R., & Misrahi, T. (2017). The Travel & Tourism Competitiveness Report 2017. Paving the Way for a More Sustainable and Inclusive Future. In World Economic Forum: Geneva, Switzerland.
  • Cortes-Jimenez, I. and Pulina, M. (2010). “Inbound tourism and long-run economic growth.”Current Issues in Tourism, 13 (1): 61-74.
  • Çetintaş, H., & Bektaş, Ç. (2008). Türkiye'de Turizm ve Ekonomik Büyüme Arasındaki Kısa ve Uzun Dönemli İlişkiler. Anatolia: Turizm Arastirmalari Dergisi, 19(1).
  • Dumitrescu, E. I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(4), 1450-1460.
  • Granger, C. (1969). Investigating causal relations by econometric models and crossspectral methods. Econometrica, 37, 424–438.
  • Granger, C. W., & Yoon, G. (2002). Hidden cointegration. University of California San Diego. Economics working paper series, 2(2002), 1-48.
  • Hacker, R. Scott and Abdulnasser HATEMI-J; (2006), “Tests for Causality between Integrated Variables Using Asymptotic and Bootstrap Distri-butions: Theory and Application”, Applied Economics, 38, pp. 1489-150
  • Hatemi-J, A. (2011). Asymmetric panel causality tests with an application to the impact of fiscal policy on economic performance in Scandinavia.
  • Hatemi-J, A. (2012), “Asymmetric Causality Tests with an Application”, Empirical Economics, 43(1), pp. 447-456.
  • Hatemi-J, A., Gupta, R., Ksango, A., Mboweni, T., & Netshitenzhe, N. (2014). Are there asymmetric causal relationships between tourism and economic growth in a panel of G-7 countries?. University of Pretoria, Department of Economics Working Paper, 76.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of econometrics, 115(1), 53-74.
  • Lee, J. W., & Brahmasrene, T. (2013). Investigating the influence of tourism on economic growth and carbon emissions: Evidence from panel analysis of the European Union. Tourism Management, 38, 69-76.
  • Levin, Andrew, Chien-Fu ve Lin, ve Chia-Shang JameChu (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties”, Journal of Econometrics, 108 (1): 1-24.
  • Mishra, P. K., Rout, H. B., & Mohapatra, S. S. (2011). Causality between tourism and economic growth: Empirical evidence from India. European Journal of Social Sciences, 18(4), 518-527.
  • O’Connell Paul G. J. (1998). “The overvaluation of purchasing power parity”. Journal of International Economics. 44, 1–19.
  • Oh, C. O. (2005). The contribution of tourism development to economic growth in the Korean economy. Tourism management, 26(1), 39-44.
  • Pablo-Romero, M. D. P., & Molina, J. A. (2013). Tourism and economic growth: A review of empirical literature. Tourism Management Perspectives, 8, 28-41.
  • Pesaran, H. (2004). General diagnostic tests for cross section dependence in panels, Working Paper No: 0435, University of Cambridge.
  • Pesaran, M. H. (2006). “A Simple Panel Unit Root Test In The Presence Of Cross Section Dependence”. Cambridge University & USC, 1-64.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of applied econometrics, 22(2), 265-312.
  • Spence M. (1973). Job Market Signalling. Quarterly Journal of Economics, 87: 355-374.
  • Stiglitz J. (1974). Incentives and risk sharing in sharecropping. Review of Economic Studies, 41” 219-255.
  • Taylor, M. P., & Sarno, L. (1998). The behavior of real exchange rates during the post-Bretton Woods period. Journal of international Economics, 46(2), 281-312.
  • Toda, H.Y. and Yamamoto, T. (1995) Statistical Inference in Vector Autoregressions with Possibly Integrated Processes. Journal of Econometrics, 66, 225-250.
  • Tugcu, C. T. (2014). Tourism and economic growth nexus revisited: A panel causality analysis for the case of the Mediterranean Region. Tourism Management, 42, 207-212.
  • Türkyılmaz, S. (2018). Testıng Weak-Form Effıcıent Market Hypothesıs: A Panel Data Approach1. Academıc Research In Socıal, Human And Admınıstratıve Scıences-I, 115.
  • UNWTO World Tourism Barometer, (2017).http://media.unwto.org/press-release/2017-12-14/southern-and-mediterranean-europe-north-africa-and-middle-east-drive-touris
  • Wiener, N. (1956). The theory of prediction. New York: Beckenbach, E. (Ed.), Modern Mathematics for Engineers. McGraw-Hill.

E-7 Ülkelerinde Turizm ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi

Yıl 2018, Sayı: 58, 130 - 142, 19.10.2018

AYŞEGÜL Yıldız Mahmut Zortuk

Öz

Dünya ekonomisinin en önemli
sektörlerinden biri olan turizm, birçok ülkenin ekonomik gelişiminde önemli rol
oynamaktadır. Küreselleşmeyle
birlikte dünyanın dört bir yanına yapılan turist ziyaretlerinin sayısı
artmakta; bu durum gelişmiş ve gelişmekte olan ülkelerde de turizm sektörüne
yönelik yatırımların artmasına neden olmaktadır. Bu sayede turizm dünyanın en
hızlı büyüyen ve en önemli sektörlerinden biri haline gelmiştir. 1995-2016 zaman periyoduna ait yıllık verilerinin
kullanıldığı bu çalışmada, en hızlı büyüyen ve gelişmekte olan E-7 ülkelerinin turizm gelirleri ile ekonomik büyüme değişkenleri
arasındaki ilişki Hatemi-J (2011) tarafından geliştirilen asimetrik panel
nedensellik yöntemiyle incelenmektedir. Elde edilen bulgular doğrultusunda,
turizm gelirleri ile ekonomik büyüme arasında nedensel bir ilişki olduğu
sonucuna ulaşılmıştır. Turizm gelirlerinde meydana gelebilecek pozitif bir
şokun ekonomik büyümeye neden olduğu; ekonomik büyüme değişkeninde negatif bir
şokun yaşanması halinde ise turizm gelirlerinin negatif bir tepki verme
eğiliminde olduğu tespit edilmiştir. 

Anahtar Kelimeler

Ekonomik büyüme turizm gelirleri

Kaynakça

  • Akerlof, G. (1970). The market for lemons: Quality, uncertainty and the market mechanism. Quarterly Journal of Economics, 84: 485-500.
  • Altıntaş, H., & Mercan, M. (2015). AR-GE Harcamaları ve Ekonomik Büyüme İlişkisi: OECD Ülkeleri Üzerine Yatay Kesit Bağımlılığı Altında Panel Eşbütünleşme Analizi. Ankara Üniversitesi SBF Dergisi, 70(2).
  • Balaguer, J., & Cantavella-Jorda, M. (2002). Tourism as a long-run economic growth factor: The Spanish case. Applied Economics, 34, 877–884.
  • Bramwell, B., & Lane, B. (1993). Sustainable tourism: an evolving global approach. Journal of Sustainable Tourism, 1(1), 6-16.
  • Breuer, J. B., McNown, R., & Wallace, M. (2002). Series‐specific unit root tests with panel data. Oxford Bulletin of Economics and statistics, 64(5), 527-546.
  • Breusch, T. S. ve Pagan, A. R. (1980). “The Lagrange Multiplier Test And Its Applications To Model Specification In Econometrics”. Review Of Economic Studies, Blackwell Publishing. 47 (1), 239-253.
  • Brida J.G., Pereryra, J., Risso W.A., Devesa M.J.S. and Aguirre S.Z. (2008). “The Tourismled growth hypothesis: Empirical evidence from Colombia”. An International Multidisciplinary Journal of Tourism, 4 (2): 13-27.
  • Brida, J.G., and Pulina, M. (2010). “A literature review on the tourism-led-growth hypothesis”. Fondazione Eni Enrico Mattei Working Papers Series 26.
  • Chang, Y. (2002). Nonlinear IV unit root tests in panels with cross-sectional dependency. Journal of econometrics, 110(2), 261-292.
  • Christopher A. Sims The American Economic Review Vol. 62, No. 4 (Sep., 1972), pp. 540-552.
  • Crotti, R., & Misrahi, T. (2017). The Travel & Tourism Competitiveness Report 2017. Paving the Way for a More Sustainable and Inclusive Future. In World Economic Forum: Geneva, Switzerland.
  • Cortes-Jimenez, I. and Pulina, M. (2010). “Inbound tourism and long-run economic growth.”Current Issues in Tourism, 13 (1): 61-74.
  • Çetintaş, H., & Bektaş, Ç. (2008). Türkiye'de Turizm ve Ekonomik Büyüme Arasındaki Kısa ve Uzun Dönemli İlişkiler. Anatolia: Turizm Arastirmalari Dergisi, 19(1).
  • Dumitrescu, E. I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(4), 1450-1460.
  • Granger, C. (1969). Investigating causal relations by econometric models and crossspectral methods. Econometrica, 37, 424–438.
  • Granger, C. W., & Yoon, G. (2002). Hidden cointegration. University of California San Diego. Economics working paper series, 2(2002), 1-48.
  • Hacker, R. Scott and Abdulnasser HATEMI-J; (2006), “Tests for Causality between Integrated Variables Using Asymptotic and Bootstrap Distri-butions: Theory and Application”, Applied Economics, 38, pp. 1489-150
  • Hatemi-J, A. (2011). Asymmetric panel causality tests with an application to the impact of fiscal policy on economic performance in Scandinavia.
  • Hatemi-J, A. (2012), “Asymmetric Causality Tests with an Application”, Empirical Economics, 43(1), pp. 447-456.
  • Hatemi-J, A., Gupta, R., Ksango, A., Mboweni, T., & Netshitenzhe, N. (2014). Are there asymmetric causal relationships between tourism and economic growth in a panel of G-7 countries?. University of Pretoria, Department of Economics Working Paper, 76.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of econometrics, 115(1), 53-74.
  • Lee, J. W., & Brahmasrene, T. (2013). Investigating the influence of tourism on economic growth and carbon emissions: Evidence from panel analysis of the European Union. Tourism Management, 38, 69-76.
  • Levin, Andrew, Chien-Fu ve Lin, ve Chia-Shang JameChu (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties”, Journal of Econometrics, 108 (1): 1-24.
  • Mishra, P. K., Rout, H. B., & Mohapatra, S. S. (2011). Causality between tourism and economic growth: Empirical evidence from India. European Journal of Social Sciences, 18(4), 518-527.
  • O’Connell Paul G. J. (1998). “The overvaluation of purchasing power parity”. Journal of International Economics. 44, 1–19.
  • Oh, C. O. (2005). The contribution of tourism development to economic growth in the Korean economy. Tourism management, 26(1), 39-44.
  • Pablo-Romero, M. D. P., & Molina, J. A. (2013). Tourism and economic growth: A review of empirical literature. Tourism Management Perspectives, 8, 28-41.
  • Pesaran, H. (2004). General diagnostic tests for cross section dependence in panels, Working Paper No: 0435, University of Cambridge.
  • Pesaran, M. H. (2006). “A Simple Panel Unit Root Test In The Presence Of Cross Section Dependence”. Cambridge University & USC, 1-64.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of applied econometrics, 22(2), 265-312.
  • Spence M. (1973). Job Market Signalling. Quarterly Journal of Economics, 87: 355-374.
  • Stiglitz J. (1974). Incentives and risk sharing in sharecropping. Review of Economic Studies, 41” 219-255.
  • Taylor, M. P., & Sarno, L. (1998). The behavior of real exchange rates during the post-Bretton Woods period. Journal of international Economics, 46(2), 281-312.
  • Toda, H.Y. and Yamamoto, T. (1995) Statistical Inference in Vector Autoregressions with Possibly Integrated Processes. Journal of Econometrics, 66, 225-250.
  • Tugcu, C. T. (2014). Tourism and economic growth nexus revisited: A panel causality analysis for the case of the Mediterranean Region. Tourism Management, 42, 207-212.
  • Türkyılmaz, S. (2018). Testıng Weak-Form Effıcıent Market Hypothesıs: A Panel Data Approach1. Academıc Research In Socıal, Human And Admınıstratıve Scıences-I, 115.
  • UNWTO World Tourism Barometer, (2017).http://media.unwto.org/press-release/2017-12-14/southern-and-mediterranean-europe-north-africa-and-middle-east-drive-touris
  • Wiener, N. (1956). The theory of prediction. New York: Beckenbach, E. (Ed.), Modern Mathematics for Engineers. McGraw-Hill.
Toplam 38 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

AYŞEGÜL Yıldız

Mahmut Zortuk

Yayımlanma Tarihi 19 Ekim 2018
Yayımlandığı Sayı Yıl 2018 Sayı: 58

Kaynak Göster

APA Yıldız, A., & Zortuk, M. (2018). E-7 Ülkelerinde Turizm ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi(58), 130-142.
AMA Yıldız A, Zortuk M. E-7 Ülkelerinde Turizm ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi. Ekim 2018;(58):130-142.
Chicago Yıldız, AYŞEGÜL, ve Mahmut Zortuk. “E-7 Ülkelerinde Turizm Ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, sy. 58 (Ekim 2018): 130-42.
EndNote Yıldız A, Zortuk M (01 Ekim 2018) E-7 Ülkelerinde Turizm ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi 58 130–142.
IEEE A. Yıldız ve M. Zortuk, “E-7 Ülkelerinde Turizm ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi”, Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, sy. 58, ss. 130–142, Ekim 2018.
ISNAD Yıldız, AYŞEGÜL - Zortuk, Mahmut. “E-7 Ülkelerinde Turizm Ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi 58 (Ekim 2018), 130-142.
JAMA Yıldız A, Zortuk M. E-7 Ülkelerinde Turizm ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi. 2018;:130–142.
MLA Yıldız, AYŞEGÜL ve Mahmut Zortuk. “E-7 Ülkelerinde Turizm Ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, sy. 58, 2018, ss. 130-42.
Vancouver Yıldız A, Zortuk M. E-7 Ülkelerinde Turizm ve Ekonomik Büyüme İlişkisi: Asimetrik Panel Nedensellik Analizi. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi. 2018(58):130-42.
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