The Nexus Between Tourism and Economic Growth: Case of Commonwealth of Independent States

Authors : Yağmur SAĞLAM, H. Avni EGELİ

Pages : 45-51

Doi:10.31822/jomat.451676

View : 10 | Download : 7

Publication Date : 2018-12-15

Article Type : Research Paper

Abstract :In this study the relationship between tourism and economic growth examined with panel data analysis for the Commonwealth Independent States insert ignore into journalissuearticles values(Azerbaijan, Russian Federation, Ukraine, Armenia, Kazakhstan and Kyrgyzstan except Uzbekistan and Tajikistan – due to lack of data); for the period between 1995 and 2015. The data has been downloaded from World Bank Development Indicators with their natural logarithmic forms. At the empirical part of the study GDP per capita annual data insert ignore into journalissuearticles values(%); represents economic growth and international tourism receipts insert ignore into journalissuearticles values(of % total export); have been chosen as an indicator of tourism sector. The model has been tested with dynamic panel data analysis. Firstly preliminary tests have been applied to be sure about the the homogeneity of series insert ignore into journalissuearticles values(Delta test); and the cross-section depence insert ignore into journalissuearticles values(CDlm test); of each individuals. After that second generation unit root test insert ignore into journalissuearticles values(Hadri Kurozomi-2012); used to find out the level of stationary. Durbin-H co-integration test showed that there is co-integration between variables and finally Hurlin-Dumetriscu causality test insert ignore into journalissuearticles values(2012); does not support tourism-led growth hypothesis. So there is one-way causality from economic growth to tourism for selected countries. 
Keywords : Commonwealth of Independent States, Tourism, Economic Growth