%0 Journal Article
%T THE RELATIONSHIP BETWEEN INTERNATIONAL TOURISM RECEIPTS AND ECONOMIC GROWTH IN ASIA PACIFIC COUNTRIES: A PANEL DATA ANALYSIS
%A Kemal ERK£¿£¿£¿
%A Semra BO£¿A
%J -
%D 2019
%X 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
%K £¿ktisadi B¨¹y¨¹me
%K Ekonomik B¨¹y¨¹me
%K Turizm Gelirleri
%U http://dergipark.org.tr/akademik-hassasiyetler/issue/45496/571247