ASYA PASİFİK ÜLKELERİNDE ULUSLARARASI TURİZM GELİRLERİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: BİR PANELVERİ ANALİZİ
Bu araştırmada turizm gelirleri ile iktisadi büyüme
arasındaki kısa ve uzun dönemli ilişkiler analiz edilmiştir. Analiz, seçilmiş
21 Asya Pasifik Ülkesi için 1995 ile 2017 arasındaki 23 yıllık dönemi
kapsamaktadır. Seriler arasında kısa dönemli nedensellik Dumitrescu &
Hurlin VAR Panel Nedensellik Analizi ile incelenmiştir. Kısa dönem analiz
sonucuna göre; (a) turizm gelirleri ekonomik büyümenin Granger nedenidir ve (b)
ekonomik büyüme turizm gelirlerinin Granger nedenidir sonucuna varılmıştır.
Buna göre kısa dönemde ekonomik büyüme ile turizm gelirleri arasında iki yönlü
pozitif bir ilişki vardır. Değişkenler arasındaki uzun dönemli ilişkinin
varlığı Westerlund ECM Panel Co-Integration Test ve Pesaran Smith Ortalama Grup
Tahmincisi ile incelenmiştir. Uzun dönem analiz sonuçlarına göre; (a) ekonomik
büyüme turizm gelirlerini etkilemektedir: ekonomik büyümedeki %1'lik bir
artış/azalış, turizm gelirlerini % 1,9
arttırmakta/azaltmaktadır, (b) turizm gelirleri ekonomik büyümeyi
etkilemektedir: turizm gelirlerindeki % 1'lik bir artış/azalış, ekonomik
büyümeyi % 0,49 arttırmakta/azaltmaktadır. Bu sonuçlar, uluslararası turizm gelirleri ile iktisadi büyüme arasında
çift yönlü ilişki olduğunu öne süren “geri bildirim hipotezini”
desteklemektedir.
THE RELATIONSHIP BETWEEN INTERNATIONAL TOURISM RECEIPTS AND ECONOMIC GROWTH IN ASIA PACIFIC COUNTRIES: A PANEL DATA ANALYSIS
In this research, the short-term and the long-term relationships between tourism receipts and economic growth was investigated. The dataset includes 483 observations for the period from 1995 to 2017 of selected 21 Asia Pacific Economies. According to “Dumitrescu & Hurlin VAR Panel Causality Test”, which is employed to analyse the short-term causality, it is revealed that (a) tourism receipts is the granger cause of economic growth, and (b) “economic growth is the granger cause of tourism receipts. Hence, it is concluded a bi-directional causality between tourism receipts and economic growth in the short-term. Westerlund ECM Panel Co-Integration Test and Pesaran & Smith Mean Group Estimator, which are performed to test the long-term relationship, indicated that (a) economic growth affects tourism revenues; a 1% increase in economic growth raises tourism revenues by 1.9% in long-term and vice versa, (b) tourism revenues affects economic growth; a 1% increase in tourism revenues raises the economic growth by 0.49 % in long-term, and vice versa. These results support the feedback hypothesis that claims a bi-directional relationship between international tourism receipts and economic growth.
___
- Akinboade, O. A. & Braimoh, L. A. (2010). International Tourism and Economic
Development in South Africa: A Granger Causality Test. International Journal
of Tourism Research, 12(2), 149-163.
- Albaladejo, I.P., Gonzalez-Martinez, M.I., Martinez-Garcia, M.P. (2014). Quality and
Endogenous Tourism: An Empirical Approach. Tourism Management, 41, 141-
147.
- Antonakakis, N., Dragouni, M. & Filis, G. (2013). Time-Varying Interdependencies of
Tourism and Economic Growth: Evidence from European Countries. MPRA
Munich Personal Repec Archive, 4875, 1-34.
- Antonakakis, N., Dragouni, M. & Filis, G. (2015). How Strong is the Linkage between
Tourism and Economic Growth in Europe. Economic Modelling, 44, 142-155.
- Arslanturk, Y., Balcilar, M. & Ozdemir, Z.A. (2011). Time-Varying Between Tourism
Receipts and Economic Growth in a Small Open Economy. Economic
Modelling, 28(1), 664-671.
- Balaguer, J., & Cantavella-Jordà, M. (2002). Tourism as a Long-Run Economic Growth
Factor: The Spanish Case. Applied Economics, 34 ,877-84.
- 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.
- Brida, J. G., Sanchez Carrera, E. J., & Risso, W. A. (2008). Tourism’s Impact on
Longrun Mexican Economic Growth. Economics Bulletin, 3(21), 1-8.
- Cárdenas-García, P.J., Sánchez-Rivero, M., & Pulido-Fernández, J.I. (2015). Does
Tourism Growth Influence Economic Development?. Journal of Travel
Research, 54(2), 206-221.
- Chou, M. (2013). Does Tourism Development Promote Economic Growth in Transition
Countries? A panel Data Analysis. Economic Modelling, 33, 226-232.
- Dritsakis, N. & Athanasiadis, S. (2000). An Econometric Model of Tourist Demand:
The Case of Greece. Journal of Hospitality & Leisure Marketing, 7(2), 39-49.
- Dritsakis, N. (2004). Tourism as a Long-run Economic Growth Factor: An Empirical
Investigation for Greece using Causality Analysis. Tourism Economics, 10(3),
305-316.
- Durbarry, R. (2004). Tourism and Economic Growth: The case of Mauritius. Tourism
Economics, 10(4), 389–401.
- Eugenio-Martin, J. L., Morales, N. M. & Scarpe, R. (2004). Tourism and Economic
Growth in Latin American Countries: A Panel Data Approach. FEEM Working
Paper, No. 26, 1-28.
- Fawaz, F. & Rahnama, M. (2014). An Empirical Refinement of the Relationship
between Tourism and Economic Growth. Anatolia: An International Journal of
Tourism and Hospitality Research, 25(3), 1-14.
- Fayissa, B., Nsiah, C. & Tadasse, B. (2008). The Impact of Tourism on Economic
Growth and Development in Africa. Tourism Economics, 14(4), 807-818.
- Ghali, A. (1976). Tourism and Economic Growth: An Empirical Study, Economic
Development ve Cultural Change, (24), 527–538.
- Gökovalı, U. & Bahar, O. (2006). Contribution of Tourism to Economic Growth in
Mediterrranean Countries: A Panel Data Approach. Anatolia: An International
Journal of Tourism and Hospitality Research, 17 (2), 155–168.
- Gunduz, L., & Hatemi-J, A. (2005). Is the Tourism-led Growth Hypothesis Valid for
Turkey. Applied Economics Letters, 12(8), 499-504.
- Katircioglu, S. (2009). Tourism, Trade and Growth: The Case of Cyprus. Applied
Economics, 41(21), 2741-2750.
- Kim, H.J., Chen, M.H. & Jang, S.S. (2006). Tourism Expansion and Economic
Development: The case of Taiwan. Tourism Management, 27(5), 925-933.
- Kızılgöl, Ö. & Erbaykal, E. (2008). The Relationship Between Tourism Revenues and
Economic Growth in Turkey: A Causality Analysis. Suleyman Demirel
University The Journal of Economics and Administrative Sciences, 13(2), 351-
360.
- Kreishan, F. M. M. (2010). Tourism and Economic Growth: The Case of Jordan.
European Journal of Social Sciences, 15(2), 63-68.
- Kum, H., Aslan, A. & Gungor, M. (2015). Tourism and Economic Growth: The Case of
Next-11 Countries. International Journal of Economics and Financial Issues,
5(4), 1075-1081.
- Lanza, A. & Pigliaru, F. (2000a), Tourism and Economic Growth: Does a Country’s
Size Matter?. Rivista Internazionale di Scienze Economiche e Commerciali, 47,
77-85.
- Oh, C. (2005). The Contribution of Tourism Development to Economic Growth in the
Korean Economy, Tourism Management, 26, 39-44.
- Ozturk, I., & Acaravci, A. (2009). On the Causality between Tourism Growth and
Economic Growth: Empirical Evidence from Turkey. Transylvanian Review of
Administrative Sciences, 5(25), 73-81.
- Pavlic, I., Tolic, M. S. & Svilokos, T. (2014). Tourism, Real Effective Exchange Rate
and Economic Growth: Empirical Evidence for Croatia. International Journal of
Tourism Research, 17(3), 282-291.
- Payne, J.E. & Mervar, A. (2010). Research Note: The Tourism-Growth Nexus in
Croatia. Tourism Economics, 16(4), 1089-1094.
- Seetanah, B. (2010). Assessing the Dynamic Economic Impact of Tourism for Island
economies. Annals of Tourism Research, 38(1), 291-308.
- Samimi, A.J., Sadeghi, S. & Sadeghi, S. (2011). Tourism and Economic Growth in
Developing Countries: P-VAR Approach. Middle-East Journal of Scientific
Research, 10(1), 28-32.
- Schubert, S.F., Brida, J.G. & Risso, A. (2011). The Impacts of International Tourism
Demand on Economic Growth of Small Economies Dependent on Tourism.
Tourism Management, 32(2), 377-385.
- Seghir, G. S., Mostefa, B., Abbes, S. M. & Zakarya, G. Y. (2015). Tourism SpendingEconomic
Growth Causality in 49 Countries: A Dynamic Panel Data Approach.
Procedia Economics and Finance, 23, 1613-1623.
- Shahzad, S. J. H., Shahbaz, M., Ferrer, R. & Kumar, R. R. (2017). Tourism-led Growth
Hypothesis in the Top Ten Tourist Destinations: New Evidence Using the
Quantile-on-Quantile Approach. Tourism Management, 60, 223-232.
- Suresh, J. & Senthilnathan, S. (2014). Relationship Between Tourism and Economic
Growth in Sri Lanka. Economic Issues in Sri Lanka, 115-132.
- Tang, C.F. & Abosedra, S. (2014). The Impacts of Tourism, Energy Consumption and
Political Instability on Economic Growth in the MENA countries. Energy
Policy, 68, 458-464.
- Tatoğlu F.Y. (2017). Panel Zaman Serileri Analizi. İstanbul Beta Basım.
- Tugcu, C.T. (2014). Tourism and Economic Growth Nexus Revisited: A Panel
Causality Analysis for the Case of the Mediterranean Region. Tourism
Management, 42, 207-212.
- UNWTO (2011). Tourism Towards 2030 Global Overview, Retrieved from
https://www.globalwellnesssummit.com/wp-content/uploads/IndustryResearch/Global/2011_UNWTO_Tourism_Towards_2030.pdf
- UNWTO (2018). Tourism Highlights 2018 Edition. Retrieved from https://www.eunwto.org/doi/pdf/10.18111/9789284419876
- Yıldırım, J. & Öcal, N. (2004), Tourism and Economic Growth in Turkey. Ekonomik
Yaklaşım, 15(52-53), 131-141.