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

Abstract

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. 

Keywords

• Economic growth,tourism revenues,asymmetric panel causality test

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

Abstract

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. 

Keywords

• Ekonomik büyüme,turizm gelirleri

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