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Do Tourism Revenues Effects Financial and Real Sector in Turkey?

Year 2021, Volume 2, Issue 2, 116 - 130, 20.10.2021

Abstract

Bu çalışma, turizm sektörü, finans sektürü ve reel sektör arasındaki ilişkiyi incelemektedir. Bu amaçla toplam seyahat gelirleri (TSG), kişi başı ortalama seyahat giderleri (KBOH), toplam seyahat harcamaları (TSH), TÜFE bazlı reel efektif döviz kuru (TUFEKUR), ÜFE bazlı reel efektif döviz kuru (UFEKUR), BIST100 kapanış endeksi (BIST100) ve imalat sanayi kapasite kullanım oranı (KKO) değişkenleri analiz edilmiştir. Analize dahil edilen değişkenler aylık frekans ile 2007-2018 dönemini kapsamaktadır. Veriler Türkiye Cumhuriyet Merkez Bankası'ndan alınarak E-views 11 programı ile analiz edilmiştir. Eşbütünleşme testi sonuçlarına göre serilerin uzun vadede dengede oldukları ve birlikte hareket ettikleri söylenebilir. Nedensellik testinin sonuçları ise TSH, KKO, KBOH, BIST100 değişkenlerinden TSG’e doğru, TSG, TUFEKUR, UFEKUR, KBOH, BIST100 değişkenlerinden TSH değişkenine doğru ilişki olduğunu göstermektedir. Bununla birlikte diğer değişkenler arasında da hem tek hem de çift yönlü nedensellik ilişkisi olduğu tespit edilmiştir.

References

  • Aktaş, C . (2009). Türkiye'nin İhracat İthalat ve Ekonomik Büyüme Arasındaki Nedensellik Analizi . Kocaeli Üniversitesi Sosyal Bilimler Dergisi, (18), 35-47. Retrieved from https://dergipark.org.tr/en/pub/kosbed/issue/25702/271210
  • Arslan, A . (2008). Türkiye’de Ekonomik Büyüme ve Turizm İlişkisi Üzerine Ekonometrik Analiz . Erciyes Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 1(24), 1-12. Retrieved from https://dergipark.org.tr/tr/pub/erusosbilder/issue/23757/253190
  • 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 . Retrieved from https://dergipark.org.tr/en/pub/atad/issue/16800/174511
  • Balıkçıoğlu, E. and Oktay, K. (2015). Türkiye’de Turizm Gelirleri ve Ekonomik Büyüme İlişkisinin Kamu Politikaları Doğrultusunda Değerlendirilmesi, Sosyoekonomi, 23(25), 113-126, DOI: 10.17233/se.80513 2015
  • Beşel, F. and Uygun, U. (2017). The Relationship Between Economic Growth and Tourism Income: The Case of Turkey: 3rd SCF International Conference on "Economic and Social Impacts of Globalization," Antalya 5-7, October 2017.
  • Belloumi, M. (2010). The Relationship between Tourism Receipts, Real Effective Exchange Rate and Economic Growth in Tunisia, International Journal of Tourism Research, 12(5), 550–560. https://doi.org/10.1002/jtr.774
  • Campos, C. and Sequeira, T.N. (2005). Tourism and Economic Growth: A Panel Data Approach. International Conference: Theoretical Advances in Tourism Economics, University of Évora, Portugal. 18-19 March 2005.
  • Çetintaş, H. and Bektaş, Ç. (2008). Türkiye’de Turizm ve Ekonomik Büyüme Arasındaki Kısa ve Uzun Dönemli İlişkiler. Anatolia: Turizm Araştırmaları Dergisi, 19(1), 37-44.
  • Chen, C. ve Chiou-Wei, S.Z. (2009). Tourism Expansion, Tourism Uncertainty, and Economic Growth: New Evidence from Taiwan and Korea, Tourism Management, 30(6). 812–818. 10.1016/j.tourman.2008.12.013
  • Cortes-Jimenez, I. and Pulina, M. (2006). Tourism and Growth: Evidence for Spain and Italy, 46th Congress of the European Regional Science Association: "Enlargement, Southern Europe and the Mediterranean", August 30th - September 3rd, 2006, Volos, Greece, European Regional Science Association (ERSA), Louvain-la-Neuve
  • Dickey D.A. and Fuller W. A., (1981). Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root, Econometrica, Vol.49, ss.1057-1072.
  • Fayissa, B., Nsiah C. and Tadasse B. (2008). Impact of Tourism on Economic Growth and Development in Africa, Tourism Economics, 14(4), 807-818. https://doi.org/10.5367/000000008786440229
  • Fayissa, B., C. Nsiah and B. Tadasse (2009). Tourism and Economic Growth in Latin American Countries (LAC): Further Empirical Evidence. The University of Minnesota-Duluth, Department Of Economics And Fınance Working Paper Series, March 2009. 1-26. Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.587.6092&rep=rep1&type=pdf
  • Gökovalı, Ü. and Bahar, O. (2006). Contribution of Tourism to Economic Growth: A Panel Data Approach, Anatolia, 17(2), 155-167, DOI: 10.1080/13032917.2006.9687184
  • Gunduz, L. and Hatemi-J., A. (2005). Is The Tourism-Led Growth Hypothesis Valid For Turkey?, Applied Economics Letters, 12(8), 499–504, DOI: 10.1080/13504850500109865
  • Lee, C.C. and Chang, C.P. (2008). Tourism Development and Eco¬nomic Growth: A Closer Look at Panels, Tourism Manage¬ment, 29(1). 180–192. https://doi.org/10.1016/j.tourman.2007.02.013
  • Martin, J. L., Morales, N.M. and Scarpa, R. (2004). Tourism and Eco¬nomic Growth in Latin American Countries: A Panel Data Approach. Retrieved from https://www.feem.it/m/publications_pages/NDL2004-026.pdf.
  • Philips, P., C., B. and Peron, P., (1998). Testing for a Unit Root in Time Series Regression, Biometrika, 1998-75(2), 335-346
  • Polat, E. and Günay, S . (2014). Türkiye'de Turizm ve İhracat Gelirlerinin Ekonomik Büyüme Üzerindeki Etkisinin Testi: Eşbütünleşme ve Nedensellik Analizi . Süleyman Demirel Üniversitesi Fen Bilimleri Enstitüsü Dergisi, 16(2), 204-211. Retrieved from https://dergipark.org.tr/en/pub/sdufenbed/issue/20798/222101
  • Proença, S. and Soukiazi, E. (2008). Tourism as an Economic Growth Factor: a Case Study for Southern European Co¬untries, Tourism Economics, 14(4), 791–806. https://doi.org/10.5367/000000008786440175
  • Tang, C.-H.H. and Jang, S.S. (2009). The Tourism-Economy Causality in the United States: A Sub-Industry Level Examination. Tourism Management, 30, 553-558. http://dx.doi.org/10.1016/j.tourman.2008.09.009
  • Trading Economics (2019). Turkey Tourism Revenues. Retrieved from https://tradingeconomics.com/turkey/tourism-revenues

Do Tourism Revenues Effects Financial and Real Sector in Turkey?

Year 2021, Volume 2, Issue 2, 116 - 130, 20.10.2021

Abstract

This study examines the relationship between the tourism sector, finance sector and real sector. For this purpose, total travel revenues (TSG), average travel expenditures per person (KBOH), total travel expenses (TSH), CPI-based real effective exchange rate (TUFEKUR), PPI based real effective exchange rate (UFEKUR), BIST100 closing index (BIST100) and manufacturing industry capacity utilization rate (KKO) variables were analyzed. The variables included in the analysis cover the period 2007-2018 with monthly frequency. Data were analyzed with the E-11 program and data taked from the Central Bank of Turkey. According to the results of the cointegration test, it can be said that the series have long-term balance and cointegration. The results of the causality test show that there is a casual relationship from TSH, KKO, KBOH, BIST100 variables to TSG, and from TSG, TUFEKUR, UFEKUR, KBOH, BIST100 variables to the TSH variable. However, it has been determined that there is both one-way and two-way causality relationships among other variables.

References

  • Aktaş, C . (2009). Türkiye'nin İhracat İthalat ve Ekonomik Büyüme Arasındaki Nedensellik Analizi . Kocaeli Üniversitesi Sosyal Bilimler Dergisi, (18), 35-47. Retrieved from https://dergipark.org.tr/en/pub/kosbed/issue/25702/271210
  • Arslan, A . (2008). Türkiye’de Ekonomik Büyüme ve Turizm İlişkisi Üzerine Ekonometrik Analiz . Erciyes Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 1(24), 1-12. Retrieved from https://dergipark.org.tr/tr/pub/erusosbilder/issue/23757/253190
  • 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 . Retrieved from https://dergipark.org.tr/en/pub/atad/issue/16800/174511
  • Balıkçıoğlu, E. and Oktay, K. (2015). Türkiye’de Turizm Gelirleri ve Ekonomik Büyüme İlişkisinin Kamu Politikaları Doğrultusunda Değerlendirilmesi, Sosyoekonomi, 23(25), 113-126, DOI: 10.17233/se.80513 2015
  • Beşel, F. and Uygun, U. (2017). The Relationship Between Economic Growth and Tourism Income: The Case of Turkey: 3rd SCF International Conference on "Economic and Social Impacts of Globalization," Antalya 5-7, October 2017.
  • Belloumi, M. (2010). The Relationship between Tourism Receipts, Real Effective Exchange Rate and Economic Growth in Tunisia, International Journal of Tourism Research, 12(5), 550–560. https://doi.org/10.1002/jtr.774
  • Campos, C. and Sequeira, T.N. (2005). Tourism and Economic Growth: A Panel Data Approach. International Conference: Theoretical Advances in Tourism Economics, University of Évora, Portugal. 18-19 March 2005.
  • Çetintaş, H. and Bektaş, Ç. (2008). Türkiye’de Turizm ve Ekonomik Büyüme Arasındaki Kısa ve Uzun Dönemli İlişkiler. Anatolia: Turizm Araştırmaları Dergisi, 19(1), 37-44.
  • Chen, C. ve Chiou-Wei, S.Z. (2009). Tourism Expansion, Tourism Uncertainty, and Economic Growth: New Evidence from Taiwan and Korea, Tourism Management, 30(6). 812–818. 10.1016/j.tourman.2008.12.013
  • Cortes-Jimenez, I. and Pulina, M. (2006). Tourism and Growth: Evidence for Spain and Italy, 46th Congress of the European Regional Science Association: "Enlargement, Southern Europe and the Mediterranean", August 30th - September 3rd, 2006, Volos, Greece, European Regional Science Association (ERSA), Louvain-la-Neuve
  • Dickey D.A. and Fuller W. A., (1981). Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root, Econometrica, Vol.49, ss.1057-1072.
  • Fayissa, B., Nsiah C. and Tadasse B. (2008). Impact of Tourism on Economic Growth and Development in Africa, Tourism Economics, 14(4), 807-818. https://doi.org/10.5367/000000008786440229
  • Fayissa, B., C. Nsiah and B. Tadasse (2009). Tourism and Economic Growth in Latin American Countries (LAC): Further Empirical Evidence. The University of Minnesota-Duluth, Department Of Economics And Fınance Working Paper Series, March 2009. 1-26. Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.587.6092&rep=rep1&type=pdf
  • Gökovalı, Ü. and Bahar, O. (2006). Contribution of Tourism to Economic Growth: A Panel Data Approach, Anatolia, 17(2), 155-167, DOI: 10.1080/13032917.2006.9687184
  • Gunduz, L. and Hatemi-J., A. (2005). Is The Tourism-Led Growth Hypothesis Valid For Turkey?, Applied Economics Letters, 12(8), 499–504, DOI: 10.1080/13504850500109865
  • Lee, C.C. and Chang, C.P. (2008). Tourism Development and Eco¬nomic Growth: A Closer Look at Panels, Tourism Manage¬ment, 29(1). 180–192. https://doi.org/10.1016/j.tourman.2007.02.013
  • Martin, J. L., Morales, N.M. and Scarpa, R. (2004). Tourism and Eco¬nomic Growth in Latin American Countries: A Panel Data Approach. Retrieved from https://www.feem.it/m/publications_pages/NDL2004-026.pdf.
  • Philips, P., C., B. and Peron, P., (1998). Testing for a Unit Root in Time Series Regression, Biometrika, 1998-75(2), 335-346
  • Polat, E. and Günay, S . (2014). Türkiye'de Turizm ve İhracat Gelirlerinin Ekonomik Büyüme Üzerindeki Etkisinin Testi: Eşbütünleşme ve Nedensellik Analizi . Süleyman Demirel Üniversitesi Fen Bilimleri Enstitüsü Dergisi, 16(2), 204-211. Retrieved from https://dergipark.org.tr/en/pub/sdufenbed/issue/20798/222101
  • Proença, S. and Soukiazi, E. (2008). Tourism as an Economic Growth Factor: a Case Study for Southern European Co¬untries, Tourism Economics, 14(4), 791–806. https://doi.org/10.5367/000000008786440175
  • Tang, C.-H.H. and Jang, S.S. (2009). The Tourism-Economy Causality in the United States: A Sub-Industry Level Examination. Tourism Management, 30, 553-558. http://dx.doi.org/10.1016/j.tourman.2008.09.009
  • Trading Economics (2019). Turkey Tourism Revenues. Retrieved from https://tradingeconomics.com/turkey/tourism-revenues

Details

Primary Language English
Subjects Hospitality Leisure Sport and Tourism
Journal Section Research Articles
Authors

Niyaz BERK
BAHÇEŞEHİR ÜNİVERSİTESİ
0000-0003-2165-7610
Türkiye


Dina ÇAKMUR YILDIRTAN
MARMARA ÜNİVERSİTESİ
0000-0002-9838-5986
Türkiye


Nadira SEYIDOVA (Primary Author)
0000-0002-2375-8426
Türkiye

Publication Date October 20, 2021
Application Date August 6, 2021
Acceptance Date October 7, 2021
Published in Issue Year 2021, Volume 2, Issue 2

Cite

APA Berk, N. , Çakmur Yıldırtan, D. & Seyıdova, N. (2021). Do Tourism Revenues Effects Financial and Real Sector in Turkey? . Journal of Global Tourism and Technology Research , 2 (2) , 116-130 . Retrieved from https://dergipark.org.tr/en/pub/jgttr/issue/65288/979511

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