Persistency in tourism expenditure in a small-open economy

Ozdemir Z. A. , AKSOY E., Arslanturk Y., Cetinkaya M., Dogan T. T. , Durusoy O. T.

ANATOLIA-INTERNATIONAL JOURNAL OF TOURISM AND HOSPITALITY RESEARCH, cilt.29, ss.1-10, 2018 (ESCI İndekslerine Giren Dergi) identifier identifier

  • Cilt numarası: 29 Konu: 1
  • Basım Tarihi: 2018
  • Doi Numarası: 10.1080/13032917.2017.1345770
  • Dergi Adı: ANATOLIA-INTERNATIONAL JOURNAL OF TOURISM AND HOSPITALITY RESEARCH
  • Sayfa Sayıları: ss.1-10

Özet

This study aims to examine whether the shocks to the Turkish tourism have a permanent or a transitory effect on tourism expenditure for the period 1964-2012. We took the structural break periods from Lumsdaine and Papell (LP) unit-root test as a base and implemented the Augmented Dickey-Fuller unit-root test for the three different sub-periods of the series of tourism expenditure. In this study, we also estimated the measure of half-life for the effects of shocks on the series under consideration and the grid-bootstrap method to estimate confidence intervals. The results show, irrespective of the structural breaks, the effect of shocks on tourism expenditure is persistent; however, considering the structural breaks, the effect of shocks on tourism expenditure is transitory.