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COINTEGRATION ANALYSIS OF TOURISM DEMAND FOR TURKEY

Natalya Ketenci

Applied Econometrics and International Development, 2010, vol. 10, issue 1

Abstract: This paper estimates the tourism demand model for Turkey from 14 countries: Austria, Belgium, Bulgaria, Denmark, France, Germany, Greece, Holland, Italy, Russia, Sweden, Switzerland, the United Kingdom and the United States. Different approaches were used to find cointegration in the considered model for the period from 1996 to 2000 on a monthly basis. From our results we found evidence at the high significance level of a long-run cointegration relationship among the variables. We found that income plays a more important role in the holiday-making decisions of tourists than the relative prices of the holiday destination. Inclusion in the model substitution destination decreased the degree of significance of relative Turkish prices in the demand model.

Keywords: tourism demand; elasticity; cointegration; vector error correction. (search for similar items in EconPapers)
JEL-codes: C32 C52 F14 F41 (search for similar items in EconPapers)
Date: 2010
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