scholarly journals Tourism and Economic Growth in G10 Countries

Tourism ◽  
2021 ◽  
Vol 69 (1) ◽  
pp. 112-126
Author(s):  
Uğur Korkut Pata
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Annual Data ◽  
Negative Events ◽  
Economic Activities ◽  
Causality Test ◽  
Panel Causality ◽  
Tourism Sector ◽  
Causality Relationship ◽  
The Relationship

This study proposes an asymmetric panel causality test to analyze the relationship between tourist arrivals and economic growth. To this end, annual data over the period 1995–2017 are examined for the G10 countries. The findings demonstrate that the relationship between tourism and economic growth varies according to positive and negative shocks. In terms of positive shocks, tourism development causes economic growth. The study also finds a bidirectional causality relationship between the negative shocks of the variables. Therefore, positive developments in tourism contribute to economic growth, while negative events in tourism impede growth. In sum, tourism is strongly linked to economic activities in G10 countries, and thus policymakers should attach importance to the tourism sector in order to support sustainable development.

Conflict Risk and Defense Expenses and Their Impact on the Economic Growth

2021 ◽  
pp. 646-668
Author(s):  
Hasan Dinçer ◽  
Ümit Hacıoğlu ◽  
Serhat Yüksel
Keyword(s):  
Economic Growth ◽  
Emerging Countries ◽  
Annual Data ◽  
Negative Effects ◽  
Causality Test ◽  
Panel Causality ◽  
High Conflict ◽  
Emerging Country ◽  
Causality Relationship ◽  
Conflict Risk

The main purpose of this chapter is to identify the effects of conflict risk and defense expenses on economic growth. Within this scope, annual data of 17 emerging economies for the period between 1989 and 2014 were analyzed. In addition to this situation, Dumitrescu Hurlin panel causality test was taken into consideration in order to reach the objective. As a result of the analysis, it was determined that there is a causality relationship between conflict and defense expenses for these countries. This situation shows that emerging countries, which have high conflict risk, also increase defense expenses so as to minimize the negative effects of these conflicts. Additionally, it was also identified that economic growth is a significant reason of high defense expenses. In other words, it can be said that when the economy of an emerging country is developed, it gives more importance to defense expenses in order to take action for this conflict.

Relationship Between Non-Performing Loans, Industry, and Economic Growth of the African Economies and Policy Recommendations for Global Growth

2018 ◽  
pp. 203-228 ◽  
Author(s):  
Hasan Dinçer ◽  
Serhat Yuksel ◽  
Zafer Adalı
Keyword(s):  
Economic Growth ◽  
Living Standards ◽  
Annual Data ◽  
Policy Recommendations ◽  
African Countries ◽  
Causality Test ◽  
Panel Causality ◽  
The People ◽  
Causality Relationship ◽  
Global Growth

The main purpose of this chapter is to evaluate the causality relationship between non-performing loans, industry volume, and economic growth and to provide some policy recommendations for global growth. Within this context, annual data of 16 African countries for the periods between 2001 and 2015 was taken into the consideration. Additionally, Dumitrescu Hurlin panel causality test was used to reach the objective. According to the result of this analysis, it was identified that there is a causality relationship between industry volume and economic growth. In addition to this situation, it was also defined that a decrease in economic growth is the main cause of the non-performing loans ratio in African countries. This chapter makes an important contribution to the literature. While considering these results, it can be said that to increase global trade economies of the countries should be improved and banking sectors should work more effectively. As a result, it will be possible to increase the living standards of the people and provide global growth.

Conflict Risk and Defense Expenses and Their Impact on the Economic Growth

2018 ◽  
pp. 1-23 ◽  
Author(s):  
Hasan Dinçer ◽  
Ümit Hacıoğlu ◽  
Serhat Yüksel
Keyword(s):  
Economic Growth ◽  
Emerging Countries ◽  
Annual Data ◽  
Negative Effects ◽  
Causality Test ◽  
Panel Causality ◽  
High Conflict ◽  
Emerging Country ◽  
Causality Relationship ◽  
Conflict Risk

The main purpose of this chapter is to identify the effects of conflict risk and defense expenses on economic growth. Within this scope, annual data of 17 emerging economies for the period between 1989 and 2014 were analyzed. In addition to this situation, Dumitrescu Hurlin panel causality test was taken into consideration in order to reach the objective. As a result of the analysis, it was determined that there is a causality relationship between conflict and defense expenses for these countries. This situation shows that emerging countries, which have high conflict risk, also increase defense expenses so as to minimize the negative effects of these conflicts. Additionally, it was also identified that economic growth is a significant reason of high defense expenses. In other words, it can be said that when the economy of an emerging country is developed, it gives more importance to defense expenses in order to take action for this conflict.

scholarly journals FDI and Economic Growth in EU13 Countries: Cointegration and Causality Tests

2020 ◽  
Vol 12 (3) ◽  
pp. 47-63
Author(s):  
Vlatka Bilas ◽  
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
European Union ◽  
Annual Data ◽  
Foreign Direct Investments ◽  
Causality Test ◽  
Panel Ardl ◽  
Long Run ◽  
Causality Tests ◽  
The Relationship

Foreign direct investments are seen as a prerequisite for gaining and maintaining competitiveness. The research objective of this study is to examine the relationship between foreign direct investment (FDI) and economic growth in “new” European Union member countries using various unit root, cointegration, as well as causality tests. The paper employs annual data for FDI and gross domestic product (GDP) from 2002 to 2018 for the 13 most recent members of European Union (EU13): Bulgaria, Croatia, Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia and Slovenia. An estimated panel ARDL (PMG) model found evidence that there is a long-run equilibrium between the LogGDP, LogFDI and LogFDIP series, with the rate of adjustment back to equilibrium between 3.27% and 20.67%. In the case of the LogFDI series, long-run coefficients are highly statistically significant in all four models, varying between 0.0828 and 0.3019. These coefficients indicate that a 1% increase in LogFDI increases LogGDP between 0.0828% and 0.3019%. Results of a Dumitrescu-Hurlin panel causality test indicated that a relationship between the GDP growth rate and FDI growth rate is only indirect. Finally, only weak evidence was shown that FDI had a statistically significant impact on GDP in the EU13 countries over the period 2002-2018. This report of findings contributes to the literature concerning FDI and economic growth, namely regarding the current understanding of the relationship between these two factors.

The Relationship Between R&D Expenditures and Economic Growth ın OECD Countries With Different Causality Tests

2020 ◽  
pp. 107-118
Author(s):  
Gökhan Karhan
Keyword(s):  
Economic Growth ◽  
Research And Development ◽  
Oecd Countries ◽  
Causality Test ◽  
Panel Causality ◽  
Rolling Window ◽  
Causality Tests ◽  
Mathematical Techniques ◽  
Rolling Windows ◽  
The Relationship

In this chapter, the relationship between research and development (R&D) expenditures and economic growth was investigated with both Emirmahmutoğlu and Köse Causality test and the Dimitrescu and Hurlin Panel Causality test based on Rolling Windows Regression for the selected 19 OECD member countries for the period 1996-2015. The results concluded that for all panel there is a causality from economic growth to R&D expenditures. In this study, the relationship between variables was investigated using different mathematical techniques like rolling windows. According to the results of the Dimitrescu and Hurlin Panel Causality Test based on Rolling Window Regression, which is applied differently from other studies in the literature, there was a causality from economic growth to R&D expenditures in 2010. In 2011, there was causality from R&D expenditures to economic growth for all panels.

scholarly journals Identifying Causality Relationship between Energy Consumption and Economic Growth in Developed Countries

2017 ◽  
Vol 1 (2) ◽  
pp. 71 ◽  
Author(s):  
Hasan Dinçer ◽  
Serhat Yüksel ◽  
Zafer Adalı
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Energy Consumption ◽  
Developed Countries ◽  
Annual Data ◽  
Causality Analysis ◽  
Panel Causality ◽  
Bidirectional Relationship ◽  
Causality Relationship ◽  
Economic Improvement

The main purpose of this study is to evaluate the causality relationship between energy consumption and economic growth for developed countries. Within this context, annual data of 22 developed countries was examined by using Dumitrescu Hurlin panel causality analysis. As a result, it was determined that that there is a bidirectional relationship between energy consumption and economic improvement for developed countries. This condition provides two different results. Firstly, energy consumption has an influence on economic development for these countries. While considering this result, it can be said that any limitation in energy consumption will restrict economic growth. Moreover, it was also concluded that level of economic growth is the main reason of energy consumption for developed countries. In other words, developed countries tend to have more energy consumption when their economies are growing.

scholarly journals Exports and Economic Growth: The Arab Experience

2000 ◽  
Vol 39 (2) ◽  
pp. 153-169 ◽  
Author(s):  
Mohammed Ibrahim EL-Sakka ◽  
Naief hamad Al-Murairi
Keyword(s):  
Economic Growth ◽  
Theoretical Background ◽  
Arab Countries ◽  
Annual Data ◽  
Causality Test ◽  
Long Run ◽  
Augmented Dickey Fuller ◽  
Stationarity Tests ◽  
The Relationship ◽  
Cointegration Relationship

This paper aims at analysing the relationship between exports and economic growth in the Arab countries using annual data for the period 1970-1999. Section two of this study presents a theoretical background of the relationship between exports and economic growth. Literature review is found in Section 3. In Section 4, the methodological issues of studying this relationship are discussed. Results of stationarity tests using Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) as well as Bivariate Johansen-Juseluis tests for cointegration are presented in Section 5. Stationarity tests suggest that time series are non-stationary in their levels and seem to be stationary in their first differences. Testing for long-run cointegration relationship using Johansen-Juseluis approach, it is found that in general there is no cointegration relationship between exports and GDP. For this reason, we abandoned the error correction model and tested for causality using different versions of Granger’s causality test. We found mixed results about the causal relationship between exports and GDP in Arab countries.

scholarly journals Economic Growth, Exchange Rate and Constrained Competiveness of the Tourism Sector in Andalucía

2015 ◽  
Vol 48 (1) ◽  
pp. 84-100 ◽  
Author(s):  
Muhammad Ali Nasir ◽  
Junjie Wu ◽  
José Calderón Guerrero
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Price Index ◽  
Annual Data ◽  
Key Factors ◽  
European Monetary ◽  
Factors Affecting ◽  
Luxury Hotels ◽  
Tourism Sector ◽  
The Relationship

Abstract This paper examines the relationship between tourism and economic growth, analyzing key factors affecting tourism income in Andalucía, Spain. Based on time series annual data for the period 2005 to 2012 and a multiple regression analysis we show that international tourism has made an important contribution to Andalucía’s economic growth. Some of the factors considered in the analysis include the number of luxury hotels, the hotel price index and the exchange rate, though the latter is outside of the control of local authorities under the European Monetary Union (EMU).

Financial Globalization and Economic Growth

2020 ◽  
pp. 99-116
Author(s):  
Murat Gündüz
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Developed Countries ◽  
Financial Globalization ◽  
The European Union ◽  
Causality Analysis ◽  
Causality Test ◽  
Causality Relationship ◽  
Using Data ◽  
The Relationship

The relationship between financial development and economic growth is one of the interesting topics of economic researches. Financial globalization is a term used to open up capital markets to the international arena and to capitalize on developed countries to developing countries. This chapter investigates the causality relationship between financial globalization and economic growth. In this study, the panel causality test of Emirmahmutoğlu and Kose (2011) was used for the European Union countries by using data from 1996-2016 period. According to the causality analysis conducted for the European Union, there is a causality from general financial globalization index to economic growth, from de facto financial globalization to economic growth and from economic growth to De jure financial globalization index.

A Comparison of Domestic Demand and Export-led Growth Strategies for European Transition Economies

2018 ◽  
Vol 53 (3) ◽  
pp. 156-173 ◽  
Author(s):  
Yağmur Sağlam ◽  
Hüseyin Avni Egeli
Keyword(s):  
Economic Growth ◽  
Transition Economies ◽  
Dynamic Panel Data ◽  
Domestic Demand ◽  
Annual Data ◽  
Growth Strategies ◽  
Time Dimension ◽  
Causality Test ◽  
Integration Test ◽  
The Relationship

The relationship between growth and trade has been argued many times in the literature. The topic is still current, dealing with different methodologies and countries by researchers. In this frame to understand the relationship theoretically and empirically better, the topic is examined again with a different approach which is explaining export-led growth (ELG) and domestic-demand-led growth (DLG) strategies comparatively for European transition economies. The annual data for the period between 1990 and 2015 were taken from Data Stream for 16 European (Central and Eastern Europe, Southeastern Europe and Balkans) transition economies and because data include both cross section and time dimension, it is necessary to apply dynamic panel data techniques. Second-generation unit root test (multifactor), Westerlund ECM panel co-integration test and heterogeneous panel causality test are applied, and long-term coefficients are estimated with common correlated effects (CCE) model. According to test results, not only ELG but also DLG strategy is accepted for European transition economies, and the direction of the relationship between growth and trade is bilateral. But the contribution of domestic demand on growth is seven times bigger than net export. The leading countries for ELG strategy are Romania, Bosnia and Herzegovina but for Poland and Czech Republic DLG strategy contributes more on economic growth. It is a better macroeconomic policy to have the balance between export-led and domestic-demand-led growth strategies for a sustainable economic growth. The key approach of high growth rate is to produce high technology with competitive price according to domestic demand and export it to the foreigner markets. JEL Codes: F14, C01, C33

Sign in / Sign up

Export Citation Format

Share Document