Economic freedom, economic growth and international tourism for post-communist (transition) countries: A panel causality analysis

Ceyhun Can Ozcan, Murat Aslan and Saban Nazlioglu
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Ceyhun Can Ozcan: Necmettin Erbakan University, Konya, Turkey
Murat Aslan: Yildirim Beyazit University, Ankara, Turkey

Theoretical and Applied Economics, 2017, vol. XXIV, issue 2(611), Summer, 75-98

Abstract: This paper examines the causal relationship between economic freedom and foreign tourist arrivals for 17 post-socialist transition countries during the period from 1996 to 2012. We employ the recently introduced panel Granger causality approach that is flexible enough to take account of both cross-country correlation and heterogeneity across the countries. The empirical results support the evidence on (i) the neutrality between economic freedom-economic growth and between economic growth-international tourism with few exceptions and (ii) the causality from economic freedom to tourism in six out of seventeen transition economies. Post-socialist countries are still in the process of integrating into the market economic system and also the global system; and consequently, the results of the current study are heavily shaped by the historical backgrounds and also the infancy of the transition process of these nations.

Keywords: economic freedom; foreign tourism; economic growth; transition countries; panel causality. (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (3)

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