TOURISM AND ECONOMIC GROWTH RELATIONSHIP IN THE TURKIC COUNTRIES: PANEL CAUSALITY ANALYSIS

The aim of this study is to examine the relationship between tourism and economic growth in the Turkish Republics using annual data for the period 1995-2014. In this context, a three-step Panel Granger causality test was applied. First, the stability of the series was investigated by means of the panel unit root test. Then panel co-integration test was applied to the series integrated of the same order. Finally, the causality relationship between the variables was examined through the Panel Granger causality test. According to the findings obtained, it can be concluded that there is a short term causality relationship running from economic growth to tourism