Year 2019, Volume 9 , Issue 2, Pages 327 - 343 2019-12-30

Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism

Adnan MUSLIJA [1] , Elma SATROVİC [2] , Namik COLAKOVIC [3]


This paper explores the dynamic relationship between economic freedom and tourism industry. In addition, the impact of economic growth is controlled in the extended model. Balanced panel data are collected for 100 countries over the period 2002-2015. The methodology includes panel data econometrics. Therefore, models are initially estimated using fixed and random effects models. Moreover, models are estimated using linear dynamic panel data estimators based on GMM framework. The results of linear static panel data estimators indicate a significant positive impact of economic freedom on tourism in both, initial and extended model. Stronger impact is reported in initial model. Dynamic panel data models confirm these results with the stronger impact reported in extended model. Given the importance of tourism industry, this paper suggests that governments should do necessary changes to foster the economic freedom since it is found to be an important factor to attract the foreign tourists.  

economic freedom, panel, relationship
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Primary Language en
Subjects Economics
Journal Section Research Article
Authors

Author: Adnan MUSLIJA
Institution: University of Sarajevo
Country: Bosnia and Herzegovina


Author: Elma SATROVİC (Primary Author)
Institution: Faculty of Economics and Administrative Sciences, Cag University, Turkey
Country: Turkey


Author: Namik COLAKOVIC
Institution: University of Travnik
Country: Bosnia and Herzegovina


Dates

Publication Date : December 30, 2019

Bibtex @research article { ckuiibfd408287, journal = {Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi}, issn = {1308-5549}, eissn = {2147-4206}, address = {iibfdergi@karatekin.edu.tr}, publisher = {Cankiri Karatekin University}, year = {2019}, volume = {9}, pages = {327 - 343}, doi = {10.18074/ckuiibfd.408287}, title = {Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism}, key = {cite}, author = {MUSLIJA, Adnan and SATROVİC, Elma and COLAKOVIC, Namik} }
APA MUSLIJA, A , SATROVİC, E , COLAKOVIC, N . (2019). Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism. Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi , 9 (2) , 327-343 . DOI: 10.18074/ckuiibfd.408287
MLA MUSLIJA, A , SATROVİC, E , COLAKOVIC, N . "Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism". Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 9 (2019 ): 327-343 <https://dergipark.org.tr/en/pub/ckuiibfd/issue/51227/408287>
Chicago MUSLIJA, A , SATROVİC, E , COLAKOVIC, N . "Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism". Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 9 (2019 ): 327-343
RIS TY - JOUR T1 - Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism AU - Adnan MUSLIJA , Elma SATROVİC , Namik COLAKOVIC Y1 - 2019 PY - 2019 N1 - doi: 10.18074/ckuiibfd.408287 DO - 10.18074/ckuiibfd.408287 T2 - Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi JF - Journal JO - JOR SP - 327 EP - 343 VL - 9 IS - 2 SN - 1308-5549-2147-4206 M3 - doi: 10.18074/ckuiibfd.408287 UR - https://doi.org/10.18074/ckuiibfd.408287 Y2 - 2019 ER -
EndNote %0 Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism %A Adnan MUSLIJA , Elma SATROVİC , Namik COLAKOVIC %T Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism %D 2019 %J Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi %P 1308-5549-2147-4206 %V 9 %N 2 %R doi: 10.18074/ckuiibfd.408287 %U 10.18074/ckuiibfd.408287
ISNAD MUSLIJA, Adnan , SATROVİC, Elma , COLAKOVIC, Namik . "Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism". Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 9 / 2 (December 2020): 327-343 . https://doi.org/10.18074/ckuiibfd.408287
AMA MUSLIJA A , SATROVİC E , COLAKOVIC N . Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism. Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2019; 9(2): 327-343.
Vancouver MUSLIJA A , SATROVİC E , COLAKOVIC N . Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism. Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2019; 9(2): 343-327.