Psychological and Economic Aspects of BIST Tourism Index with Hotel Restaurant Credits: Turkey Example

Filiz Yetiz (), Aynur Süsay and Ayşe Ergin Ünal
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Filiz Yetiz: Akdeniz Üniversitesi, Uygulamalı Bilimler Fakültesi, Finans ve Bankacılık Bölümü, Antalya, Türkiye
Aynur Süsay: Tarsus Üniversitesi, Uygulamalı Bilimler Fakültesi, Finans ve Bankacılık Bölümü, Mersin, Türkiye
Ayşe Ergin Ünal: Tarsus Üniversitesi, Uygulamalı Bilimler Fakültesi, Finans ve Bankacılık Anabilim Dalı, Mersin, Türkiye

Journal of Economic Policy Researches, 2022, vol. 9, issue 1, 187-204

Abstract: In gross domestic product the share of the tourism sector, which is among the sub-service sectors in Turkey in general and the services sector in particular, is increasing gradually. From the perspective of the world service trade, the contribution of the sector, which weighs almost 30%, to the country’s economies is undeniable. Considering its importance in the economy, banks provide affordable prices, maturity, and limit options for developing the tourism sector and various businesses, including investment loans. Banks also create new loan support packages for the needs of the sector. The banking system continuously supports sectors with multiple credit products to maintain activities in the tourism sector, establish new tourism enterprises, renew the enterprises, and support renovation activities. In this context, the study aims to determine the causality relationship among various psychological and economic sizes affecting the tourism sector in Turkey. Monthly data for the period 2011:01–2021:02 and the Toda Yamamoto Causality test were used in the study. Moreover, six different variables were preferred in the investigation of the total tourism loans financed by the banking system and the psychological and economic effects of the BIST tourism index. Among the variables, Industrial Production Index, BIST Tourism Index, Hotels and Restaurants (Tourism) Total Cash Loans, and consumer price index indicators (Restaurants and Hotels) represent economic reflections in the sector. The service sector confidence index and Turkey geopolitical risk index represent psychological effects. According to the causality test, a one-way causality relationship was obtained from the service sector confidence index to growth and consumer price index indicators and from the BIST Tourism Index to the service sector confidence index. Other findings include a one-way causality relationship from Hotels and Restaurants (Tourism) Total Cash Loans to CPI.

Keywords: Services confidence index; Turkey geopolitical risk index; Hotels and restaurants; Total cash loans; CPI; BIST tourism index JEL Classification : A10; Z30; Z33 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ist:iujepr:v:9:y:2022:i:1:p:187-204

DOI: 10.26650/JEPR926459

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