Research Article
BibTex RIS Cite
Year 2018, Volume: 3 Issue: 2, 45 - 51, 15.12.2018
https://doi.org/10.31822/jomat.451676

Abstract

References

  • Bahar, O., and Bozkurt, K. (2010). Gelişmekte olan ülkelerde turizm-ekonomik büyüme ilişkisi: Dinamik panel veri analizi. Anatolia Turizm Araştırmaları Dergisi 21 (2): 255–265.
  • Bal, H. (2011). İktisadi gelişme ve doğal kaynaklar: Geçiş ekonomileri çerçevesinde bir inceleme. Ç.Ü. Sosyal Bilimler Enstitüsü Dergisi 20 (1): 87–104.
  • Baltagi, B.H. (2005). Econometric analysis of panel data. Third Edition, England, John Wiley & Sons Ltd.
  • Blackman, C.N. (1991). Tourism and other services in the Anglophone Caribbean. In Anthony P. Maingot (Ed.). Small country development and international labour flows: Experiences in the Caribbean, (Vol. 5), Boulder, Colorado: West-view Press, Inc.
  • Bryden, J.M. (1973). Tourism and development: A case study of the Commonwealth Caribbean. Cambridge University Press, PMCid:1271554.
  • Bull, A. (1995). The economics of travel and tourism. London: Pitman Publishing.
  • Buthaina, M.A.M., and Hussam-Eldin, D. (2017). Tourism and economic growth in Jordan from linear and nonlinear frameworks. International Journal of Economics and Financial Issues 7 (1): 214–223.
  • Cameron, C.A. and Trivedi, P.K. (2005). Supplement to Microeconometrics: Methods and Applications. New York: Cambridge University Press.
  • Chou, C.M. (2013). Does tourism development promote economic growth in transition countries? A panel data analysis. Economic Modelling 33: 226–232.
  • De Kadt, E.J. (1979). Tourism: Passport to development? Oxford University Press, New York.
  • Dumetriscu, E. and Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling 29 (4): 1450–1460.
  • Ekanayake, E.M., and Long, A.E. (2012). Tourism development and economic growth in developing countries. The International Journal of Business and Finance Research, 6 (1): 51–63.
  • Fawaz, F., Masha R., and Stout, B. (2014). An empirical refinement of the relationship between tourism and economic growth. An International Journal of Tourism and Hospitality Research 25 (3): 352–363.
  • Furmolly, A , Kırkulak Uludağ, B . (2018). Turizmin Türkiye Ekonomisi Üzerindeki Etkisi (1963-2015). Journal of Multidisciplinary Academic Tourism, 3 (1), 11-22. DOI: 10.31822/jomat.364321
  • Gwenhure, Y., and Odhiambo, N.M. (2017). Tourism and economic growth: A review of international literature. Tourism Review 65 (1): 33–44.
  • Hadri, K., and Kurozumi, E. (2012). A simple panel stationarity test in the presence of serial correlation and a common factor. Economics Letter 115: 31–34.
  • Holzner, M. (2011). Tourism and economic development: the beach disease? Tourism Management 32, 923–933.
  • Interstate Statistical Committee of CIS, http://www.cisstat.com/eng/cis.htm. Accsess date: 30.11.2018.
  • Kamacı, A., and Oğan, Y. (2014). The effects of tourism revenues on economic growth: A panel co-integration and causality analysis. International Conference on Eurasian Economies, 1–6.
  • Mazumder, M.N.H., Sultana, M.A., and Al-Mamun, A. (2013). Regional tourism development in Southeast Asia. Transnational Corporations Review 5 (2): 60–76.
  • Nelson, C.R. and Plosser, C.I. (1982). "Trends and Random Walks in Macroeconomic Time Series: Some Evidence and Implications", Journal of Monetary Economics, 10(2): 39‑162.
  • Pesaran, H.M. (2004). General diagnostic tests for cross section dependence in panels. Working Paper 0435, University of Cambridge.
  • Pesaran, H.M. (2007). “A Simple Panel Unit Root Test in The Presence Of Cross-Section Dependence”, Journal of Applied Economics, 22: 265-312.
  • Pesaran, H.M. and Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics, 142: 509–3.
  • Seghir, G.M., Belmokaddem, M., Sahroui M.A., and Ghuali, Y.Z. (2015). Tourism spending-economic growth causality in 49 countries: A dynamic panel data approach. Procedia Economics and Finance 23: 1613–1623.
  • Skeritt, D., and Huybers, T. (2007). The effect of international tourism on economic development: An empirical analysis. Asia Pacific of Tourism Research 10 (1): 23–43. Taylor, J.B. (1989). The evolution of ideas in macroeconomics. The Economic Record 65: 185-189.
  • Utkulu, U., and Kahyaoğlu, H. (2005). “Birim Kök Ekonometrisinden Birim Kök Ekonomisine”, Pamukkale Üniversitesi, Ekonometrik Yaz Seminerleri.
  • Westerlund, J. (2008). Panel co integration tests of the Fisher effect. Journal of Applied Econometrics 23 (2): 193–233.

The Nexus Between Tourism and Economic Growth: Case of Commonwealth of Independent States

Year 2018, Volume: 3 Issue: 2, 45 - 51, 15.12.2018
https://doi.org/10.31822/jomat.451676

Abstract

In this study the relationship between tourism and economic growth examined with panel data analysis for the Commonwealth Independent States (Azerbaijan, Russian Federation, Ukraine, Armenia, Kazakhstan and Kyrgyzstan except Uzbekistan and Tajikistan – due to lack of data) for the period between 1995 and 2015. The data has been downloaded from World Bank Development Indicators with their natural logarithmic forms. At the empirical part of the study GDP per capita annual data (%) represents economic growth and international tourism receipts (of % total export) have been chosen as an indicator of tourism sector. The model has been tested with dynamic panel data analysis. Firstly preliminary tests have been applied to be sure about the the homogeneity of series (Delta test) and the cross-section depence (CDlm test) of each individuals. After that second generation unit root test (Hadri Kurozomi-2012) used to find out the level of stationary. Durbin-H co-integration test showed that there is co-integration between variables and finally Hurlin-Dumetriscu causality test (2012) does not support tourism-led growth hypothesis. So there is one-way causality from economic growth to tourism for selected countries. 

References

  • Bahar, O., and Bozkurt, K. (2010). Gelişmekte olan ülkelerde turizm-ekonomik büyüme ilişkisi: Dinamik panel veri analizi. Anatolia Turizm Araştırmaları Dergisi 21 (2): 255–265.
  • Bal, H. (2011). İktisadi gelişme ve doğal kaynaklar: Geçiş ekonomileri çerçevesinde bir inceleme. Ç.Ü. Sosyal Bilimler Enstitüsü Dergisi 20 (1): 87–104.
  • Baltagi, B.H. (2005). Econometric analysis of panel data. Third Edition, England, John Wiley & Sons Ltd.
  • Blackman, C.N. (1991). Tourism and other services in the Anglophone Caribbean. In Anthony P. Maingot (Ed.). Small country development and international labour flows: Experiences in the Caribbean, (Vol. 5), Boulder, Colorado: West-view Press, Inc.
  • Bryden, J.M. (1973). Tourism and development: A case study of the Commonwealth Caribbean. Cambridge University Press, PMCid:1271554.
  • Bull, A. (1995). The economics of travel and tourism. London: Pitman Publishing.
  • Buthaina, M.A.M., and Hussam-Eldin, D. (2017). Tourism and economic growth in Jordan from linear and nonlinear frameworks. International Journal of Economics and Financial Issues 7 (1): 214–223.
  • Cameron, C.A. and Trivedi, P.K. (2005). Supplement to Microeconometrics: Methods and Applications. New York: Cambridge University Press.
  • Chou, C.M. (2013). Does tourism development promote economic growth in transition countries? A panel data analysis. Economic Modelling 33: 226–232.
  • De Kadt, E.J. (1979). Tourism: Passport to development? Oxford University Press, New York.
  • Dumetriscu, E. and Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling 29 (4): 1450–1460.
  • Ekanayake, E.M., and Long, A.E. (2012). Tourism development and economic growth in developing countries. The International Journal of Business and Finance Research, 6 (1): 51–63.
  • Fawaz, F., Masha R., and Stout, B. (2014). An empirical refinement of the relationship between tourism and economic growth. An International Journal of Tourism and Hospitality Research 25 (3): 352–363.
  • Furmolly, A , Kırkulak Uludağ, B . (2018). Turizmin Türkiye Ekonomisi Üzerindeki Etkisi (1963-2015). Journal of Multidisciplinary Academic Tourism, 3 (1), 11-22. DOI: 10.31822/jomat.364321
  • Gwenhure, Y., and Odhiambo, N.M. (2017). Tourism and economic growth: A review of international literature. Tourism Review 65 (1): 33–44.
  • Hadri, K., and Kurozumi, E. (2012). A simple panel stationarity test in the presence of serial correlation and a common factor. Economics Letter 115: 31–34.
  • Holzner, M. (2011). Tourism and economic development: the beach disease? Tourism Management 32, 923–933.
  • Interstate Statistical Committee of CIS, http://www.cisstat.com/eng/cis.htm. Accsess date: 30.11.2018.
  • Kamacı, A., and Oğan, Y. (2014). The effects of tourism revenues on economic growth: A panel co-integration and causality analysis. International Conference on Eurasian Economies, 1–6.
  • Mazumder, M.N.H., Sultana, M.A., and Al-Mamun, A. (2013). Regional tourism development in Southeast Asia. Transnational Corporations Review 5 (2): 60–76.
  • Nelson, C.R. and Plosser, C.I. (1982). "Trends and Random Walks in Macroeconomic Time Series: Some Evidence and Implications", Journal of Monetary Economics, 10(2): 39‑162.
  • Pesaran, H.M. (2004). General diagnostic tests for cross section dependence in panels. Working Paper 0435, University of Cambridge.
  • Pesaran, H.M. (2007). “A Simple Panel Unit Root Test in The Presence Of Cross-Section Dependence”, Journal of Applied Economics, 22: 265-312.
  • Pesaran, H.M. and Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics, 142: 509–3.
  • Seghir, G.M., Belmokaddem, M., Sahroui M.A., and Ghuali, Y.Z. (2015). Tourism spending-economic growth causality in 49 countries: A dynamic panel data approach. Procedia Economics and Finance 23: 1613–1623.
  • Skeritt, D., and Huybers, T. (2007). The effect of international tourism on economic development: An empirical analysis. Asia Pacific of Tourism Research 10 (1): 23–43. Taylor, J.B. (1989). The evolution of ideas in macroeconomics. The Economic Record 65: 185-189.
  • Utkulu, U., and Kahyaoğlu, H. (2005). “Birim Kök Ekonometrisinden Birim Kök Ekonomisine”, Pamukkale Üniversitesi, Ekonometrik Yaz Seminerleri.
  • Westerlund, J. (2008). Panel co integration tests of the Fisher effect. Journal of Applied Econometrics 23 (2): 193–233.
There are 28 citations in total.

Details

Primary Language English
Subjects Tourism (Other)
Journal Section Research Papers
Authors

Yağmur Sağlam 0000-0001-6465-0297

H. Avni Egeli 0000-0002-0070-9242

Publication Date December 15, 2018
Published in Issue Year 2018 Volume: 3 Issue: 2

Cite

APA Sağlam, Y., & Egeli, H. A. (2018). The Nexus Between Tourism and Economic Growth: Case of Commonwealth of Independent States. Journal of Multidisciplinary Academic Tourism, 3(2), 45-51. https://doi.org/10.31822/jomat.451676



88x31.png   All the contents of this journal are licensed under a Creative Commons Attribution (CC-BY) 4.0 License (From September 2022) and available as full open access.

© Copyrights of all contents published in this journal are retained by their author(s).