Araştırma Makalesi
BibTex RIS Kaynak Göster

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

Yıl 2019, Cilt: 9 Sayı: 2, 327 - 343, 31.12.2019
https://doi.org/10.18074/ckuiibfd.408287

Öz

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.  

Kaynakça

  • Acemoglu, D., Simon, J. and James, A.R., (2001). The Colonial Origins of Comparative Development: An Empirical Investigation. American Economic Review, Vol. 91, pp. 1369-1401.
  • Akal, M. (2004).Forecasting Turkey’s Tourism Revenues by ARMAX Model, Tourism Management, Vol. 25, pp. 565-580.
  • Baltagi, B. H. (2008). Econometric Analysis of Panel Data. West Sussex: Wiley.
  • Beach, W.W. and Kane, T., (2008). Methodology: Measuring the 10 Economic Freedoms, in Heritage Foundation, 2008 Index of Economic Freedom.
  • Dawson, J.W. (2003). Causality in the Freedom-Growth Relationship. European Journal of Political Economy, Vol. 19, pp. 479-495.
  • Heckelman, J.C. (2000). Economic Freedom and Economic Growth: A Short-Run Causal Investigation, Journal of Applied Economics, pp. 71-91.
  • Index of Economic Freedom. (2015). Heritage Foundation.
  • Mahmood, M. and Mahmood, E. (2016).Foreign Direct Investment, Exports and Economic Growth: Evidence Two Panels of Developing Countries, Economic Research-Ekonomska Istraživanja, Vol. 29(1), pp. 938-949.
  • Muslija, A., Satrovic, E. and Unver Erbas, C, (2017). Panel Analysis of Tourism -Economic Growth Nexus, International Journal of Economic Studies, Vol. 3(4), pp. 535-545.
  • Ozcan, C.C, Aslan, M. and Nazlioglu, S. (2017). Economic Freedom, Economic Growth and International Tourism for Post-Communist (Transition) Countries: A Panel Causality Analysis. Theoretical and Applied Economics, Vol. XXIV (2017), No. 2(611), pp. 75-98.
  • Saha, S., Su, J. J., and Campbell, N. (2016, in press). Does Political and Economic Freedom Matter for Inbound Tourism? A Cross-National Panel Data Estimation. Journal of Travel Research.
  • Satrovic, E. and Muslija, A. (2017). Foreign Direct Investments and Tourism: Empirical Evidence from Turkey, ICPESS Proceedings, ISBN: 978-605-68010-0-6, Vol. 2, pp. 88-100.
  • Su, Y. W., and Lin, H.L. (2014). Analysis of International Tourist Arrivals Worldwide: The Role of World Heritage Sites. Tourism Management, Vol. 40, pp. 46-58.
  • Uysal, M. and Crompton, J. L. (1984). Determinants of Demand for International Tourist Flows to Turkey, Tourism Management, Vol. 5, pp. 288-97.
  • World Development Indicators. (2017). The World Bank.
Yıl 2019, Cilt: 9 Sayı: 2, 327 - 343, 31.12.2019
https://doi.org/10.18074/ckuiibfd.408287

Öz

Kaynakça

  • Acemoglu, D., Simon, J. and James, A.R., (2001). The Colonial Origins of Comparative Development: An Empirical Investigation. American Economic Review, Vol. 91, pp. 1369-1401.
  • Akal, M. (2004).Forecasting Turkey’s Tourism Revenues by ARMAX Model, Tourism Management, Vol. 25, pp. 565-580.
  • Baltagi, B. H. (2008). Econometric Analysis of Panel Data. West Sussex: Wiley.
  • Beach, W.W. and Kane, T., (2008). Methodology: Measuring the 10 Economic Freedoms, in Heritage Foundation, 2008 Index of Economic Freedom.
  • Dawson, J.W. (2003). Causality in the Freedom-Growth Relationship. European Journal of Political Economy, Vol. 19, pp. 479-495.
  • Heckelman, J.C. (2000). Economic Freedom and Economic Growth: A Short-Run Causal Investigation, Journal of Applied Economics, pp. 71-91.
  • Index of Economic Freedom. (2015). Heritage Foundation.
  • Mahmood, M. and Mahmood, E. (2016).Foreign Direct Investment, Exports and Economic Growth: Evidence Two Panels of Developing Countries, Economic Research-Ekonomska Istraživanja, Vol. 29(1), pp. 938-949.
  • Muslija, A., Satrovic, E. and Unver Erbas, C, (2017). Panel Analysis of Tourism -Economic Growth Nexus, International Journal of Economic Studies, Vol. 3(4), pp. 535-545.
  • Ozcan, C.C, Aslan, M. and Nazlioglu, S. (2017). Economic Freedom, Economic Growth and International Tourism for Post-Communist (Transition) Countries: A Panel Causality Analysis. Theoretical and Applied Economics, Vol. XXIV (2017), No. 2(611), pp. 75-98.
  • Saha, S., Su, J. J., and Campbell, N. (2016, in press). Does Political and Economic Freedom Matter for Inbound Tourism? A Cross-National Panel Data Estimation. Journal of Travel Research.
  • Satrovic, E. and Muslija, A. (2017). Foreign Direct Investments and Tourism: Empirical Evidence from Turkey, ICPESS Proceedings, ISBN: 978-605-68010-0-6, Vol. 2, pp. 88-100.
  • Su, Y. W., and Lin, H.L. (2014). Analysis of International Tourist Arrivals Worldwide: The Role of World Heritage Sites. Tourism Management, Vol. 40, pp. 46-58.
  • Uysal, M. and Crompton, J. L. (1984). Determinants of Demand for International Tourist Flows to Turkey, Tourism Management, Vol. 5, pp. 288-97.
  • World Development Indicators. (2017). The World Bank.
Toplam 15 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Ekonomi
Bölüm Araştırma Makalesi
Yazarlar

Adnan Muslıja Bu kişi benim

Elma Satrovic

Namik Colakovıc Bu kişi benim

Yayımlanma Tarihi 31 Aralık 2019
Yayımlandığı Sayı Yıl 2019 Cilt: 9 Sayı: 2

Kaynak Göster

APA Muslıja, A., Satrovic, E., & Colakovıc, 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. https://doi.org/10.18074/ckuiibfd.408287
AMA Muslıja A, Satrovic E, Colakovıc N. Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism. Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. Aralık 2019;9(2):327-343. doi:10.18074/ckuiibfd.408287
Chicago Muslıja, Adnan, Elma Satrovic, ve Namik Colakovıc. “Dynamic Panel Data Analysis of the Relationship Between Economic Freedom and Tourism”. Çankırı Karatekin Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi 9, sy. 2 (Aralık 2019): 327-43. https://doi.org/10.18074/ckuiibfd.408287.
EndNote Muslıja A, Satrovic E, Colakovıc N (01 Aralık 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.
IEEE A. Muslıja, E. Satrovic, ve N. Colakovıc, “Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism”, Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 9, sy. 2, ss. 327–343, 2019, doi: 10.18074/ckuiibfd.408287.
ISNAD Muslıja, Adnan vd. “Dynamic Panel Data Analysis of the Relationship Between Economic Freedom and Tourism”. Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 9/2 (Aralık 2019), 327-343. https://doi.org/10.18074/ckuiibfd.408287.
JAMA Muslıja A, Satrovic E, Colakovıc N. Dynamic Panel Data Analysis of the Relationship between Economic Freedom and Tourism. Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2019;9:327–343.
MLA Muslıja, Adnan vd. “Dynamic Panel Data Analysis of the Relationship Between Economic Freedom and Tourism”. Çankırı Karatekin Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, c. 9, sy. 2, 2019, ss. 327-43, doi:10.18074/ckuiibfd.408287.
Vancouver Muslıja A, Satrovic E, Colakovıc 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):327-43.