Economic freedom, economic growth and international tourism for post-communist (transition) countries: A panel causality analysis
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-c...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2017-06-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/1270.pdf
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| Summary: | 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. |
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| ISSN: | 1841-8678 1844-0029 |