TY  - JOUR
TT  - Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism
AU  - Satrovic, Elma
AU  - Muslıja, Adnan
AU  - Colakovıc, Namik
PY  - 2019
DA  - December
DO  - 10.18074/ckuiibfd.408287
JF  - Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
PB  - Çankırı Karatekin Üniversitesi
WT  - DergiPark
SN  - 1308-5549
SP  - 327
EP  - 343
VL  - 9
IS  - 2
LA  - en
KW  - economic freedom
KW  - panel
KW  - relationship
N2  - This paperexplores the dynamic relationship between economic freedom and tourism industry.In addition, the impact of economic growth is controlled in the extended model.Balanced paneldata are collected for 100 countries over the period 2002-2015. The methodologyincludes panel data econometrics. Therefore, models are initially estimatedusing fixed and random effects models. Moreover, models are estimated usinglinear dynamic panel data estimators based on GMM framework. The results oflinear static panel data estimators indicate a significant positive impact ofeconomic freedom on tourism in both, initial and extended model. Strongerimpact is reported in initial model. Dynamic panel data models confirm theseresults with the stronger impact reported in extended model. Given the importanceof tourism industry, this paper suggests that governments should do necessarychanges to foster the economic freedom since it is found to be an importantfactor to attract the foreign tourists.
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UR  - https://doi.org/10.18074/ckuiibfd.408287
L1  - http://dergipark.org.tr/tr/download/article-file/907575
ER  -