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

[ X ]

Tarih

2019

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

Erişim Hakkı

Özet

This paper explores the dynamic relationship between economic freedom and the tourism industrywhile controlling for the potential heterogeneity. Countries that report high levels of economicfreedom index tend to have a more favorable business climate that increases the stability of the labormarket; monetary system and rule of law. As a consequence, it can attract more investments indifferent sectors including the tourism industry. Thereby, economic freedom is expected to cause thetourism industry. Herein, we have explored the link of interest by collecting the balanced panel datafor 87 countries over the period 2002-2015. The methodology includes the panel VAR model. Thefindings of this article suggest a unidirectional link running from economic freedom to the tourismindustry. Given the importance of the tourism industry, this paper suggests that governments shouldmake necessary changes to foster economic freedom since it is found to be an important factor toattract foreign tourists.

Açıklama

Anahtar Kelimeler

Otelcilik, Konaklama, Spor ve Turizm, İşletme, İktisat

Kaynak

Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

WoS Q Değeri

Scopus Q Değeri

Cilt

9

Sayı

2

Künye