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- Title
BOOTSTRAP PANEL CAUSALITY TESTING OF TOURISM AND GDP NEXUS FOR UPPER-MIDDLE INCOME COUNTRIES.
- Authors
KOÇOĞLU, Mustafa; DOYAR, Bayram Veli
- Abstract
Tourism is one of the sources that increases the income of countries. Several studies show that there are causal associations between GDP and tourism in various countries and country groups. In this respect, the purpose of the paper is to explore the causal relationship between tourism and GDP in 33 upper-middle income countries. Therefore, bootstrap panel causality test of Emirmahmutoğlu and Köse (2011) is applied to annual data from 1995 to 2018. This test is powerful both under cross-section dependency and independency, and also when the number of observations is small. The findings reveal that a unidirectional causality from tourism to GDP for Grenada and South Africa; a unidirectional causality from GDP to tourism in Albania, Bulgaria, Dominic Republic, Ecuador, Jamaica, Peru, Sri Lanka and the whole panel; bidirectional causality between tourism and GDP in Armenia, Mauritius and North Macedonia; and no causality for the remaining 21 countries.
- Subjects
GROSS domestic product; TOURISM; COUNTRIES; INTERNATIONAL tourism
- Publication
Visionary E-Journal / Vizyoner Dergisi, 2020, Vol 11, p80
- ISSN
1308-9552
- Publication type
Article
- DOI
10.21076/vizyoner.722021