The spillover effects of tourism receipts, political risk, real exchange rate, and trade indicators in Turkey

Alola U. V., Cop S., Adewale Alola A.

International Journal of Tourism Research, cilt.21, sa.6, ss.813-823, 2019 (SSCI) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 21 Sayı: 6
  • Basım Tarihi: 2019
  • Doi Numarası: 10.1002/jtr.2307
  • Dergi Adı: International Journal of Tourism Research
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
  • Sayfa Sayıları: ss.813-823
  • Anahtar Kelimeler: geopolitical risk, real exchange rate, Republic of Turkey, spillover effect, tourism receipts, trade, uncertainty
  • İstanbul Gelişim Üniversitesi Adresli: Evet

Özet

In examining the spillover effects of tourism receipts and the uncertainty-induced factors in Turkey, this study examines the spillover effects of tourism receipts and related sources of uncertainties from trade- and political-related factors. Using the novelty of Diebold and Yilmaz “Better to give than to receive: Predictive directional measurement of volatility spillovers” approach, the study reveals that tourism receipts have a net spillover of 4.1%, thus indicating that the country's tourism industry received a significant shock. Spillover effects from other variables are observed, thus suggesting a hedging policy mechanism for the country's tourism sector.