Abstract
In this study the relationship between foreign housing investments and the tourism sector in Turkey was investigated by causality analysis. In this study Granger, Toda Yamamato and Bootstrap Granger causality tests are used for 2013 and 2016 (2013M01:2016M11) period. As a result of this study, it was concluded that there is a relationship between foreign housing investments and tourism by determining a unidirectional causal relationship between foreign housing investments to tourism revenues and the number of tourists.
Keywords
Tourism Revenues Real Estate Market Foreign Housing Investments Bootstrap Granger Causality
References
- CORTES-JIMENEZ, M PULINA, (2010), In bound tourism and long-run economic growth. Current Issues in Tourism, 13(1), 61–74.
- CRAIGWELL, R., W. MOORE, (2007). Foreign direct investment and tourism in SIDS: Evidence from panel causality tests, Tourism Analysis, 13(4), 427–432.
- ÇİL YAVUZ N., (2006), Türkiye’de Turizm Gelirlerinin Ekonomik Büyümeye Etkisinin Testi: Yapısal Kırılma ve Nedensellik Analizi, Doğuş Üniversitesi Dergisi, 7 (2), 162-171.
- FEREIDOUNI, G. H. A. T MASRON. MALEK A. T. OOIAI. (2010), The interaction between foreign real estate investment and tourism: The Iranian case in Dubai, World Applied Sciences Journal 10 (Special Issue of Tourism&Hospitality), 40-44.
- FEREIDOUNI, G. H. A. T MASRON (2011). The effect of tourism agglomeration on foreign real estate investment: Evidence from selected OECD countries. International Journal of Strategic Property Management, 15 (3), 222-230.
- FEREIDOUNI, G. H. A. M. USAMA (2014). The interaction between tourism and FDI in real estate in OECD countries. Current Issues in Tourism, 17 (2), 105-113.
- GRANGER, C. P. NEWBOLD, (1974) “Spurious Regression in Econometrics”, Journal of Econometrics, 2, 111-120.
- GUJARATİ, N. DOMODAR, (1995), Basic Econometrics, New York: 3rd ed. McGraw-Hill, Inc.
- HACKER, R. S. A. HATEMI-J, (2006). Tests for causality between integrated variables using asymptotic and Bootstrap distributions: The oryand application. Applied Economics, 38(13), 1489-1500.
- HE, C. WANG, J. S. CHENG, (2009). What attracts foreign direct investment in China’s real estate development? The Annals of Regional Science, 46(2), 267–293.
- JIMENEZ L. S. (2002). Tourism Revenues and Residential Foreign Investment Flows in Spain: A Simultaneous Model, Applied Economics, 34, pp. 1399-1410.
- Kültür ve Turizm Bakanlığı. (2016). Turizm istatistikleri. Erişim adresi http://yigm.kulturturizm.gov.tr/TR,9851/turizm-istatistikleri.html
- MERCAN, M. O. PEKER, (2013). Finansal gelişmenin ekonomik büyümeye etkisi: Ekonometrik bir analiz. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 8(1), 93-120.
- NİNG, J. B. YU (2009). The analysis on FDIs technology spill over based on industrial relationship: Chinas’ real estate industry as an example. International Conference on Construction and Real Estate Management, Beijing, China, 05–06 November 2009.
- PERRON Pierre, (1989), The Great Crash, the Oil Price Shock and the Unit Root Hypothesis, Econometrica,vol:57 No:6 pp:1361-1401.
- Resmi Gazete, (2012), Tapu Kanunu ve Kadastro Kanununda Değişiklik Yapılmasına İlişkin Kanun, T.C. Resmi Gazete, 18/05/2012, Sayı: 28296.
- RODRİGUEZ, C. R. BUSTİLLO, (2010). Modeling foreign real estate investment: The Spanish case. Journal of Real Estate Finance and Economics, 41(3), 354–367.
- SANFORD, D. M. H. DONG, (2000). Investment in familiar territory: Tourism and new foreign direct investment. Tourism Economics, 6(3), 205-219.
- SEVER E., M. DEMİR (2007), Türkiye’de Bütçe Açığı ile Cari Açık Arasındaki İlişkilerin VAR Analizi ile İncelenmesi, Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 2(1) pp. 47-53.
- TODA, H. Y., T. YAMAMOTO, (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66(1), 225-250.
- Türkiye İstatistik Kurumu, (2016). Yabancılara yapılan konut satış sayıları istatistikleri. Erişim adresi http://www.tuik.gov.tr/PreIstatistikTablo.do? istab_id=2121
Abstract
Bu çalışmada Türkiye’de yabancı konut yatırımı ile turizm sektörü arasında ilişki nedensellik analizleriyle araştırılmıştır. Bu çalışmada 2013-2016 dönemi için (2013M01:2016M11) Granger, Toda-Yamamoto ve Bootstrap Granger nedensellik testleri kullanılmıştır. Çalışma sonucunda, yabancı konut yatırımlarından turizm gelirleri ve turist sayısına doğru tek yönlü nedensellik tespit edilerek, yabancı konut yatırımları ile turizm arasında ilişki olduğu sonucuna varılmıştır.
Keywords
Turizm Gelirleri Gayrimenkul Piyasası Yabancı Konut Yatırımları Bootstrap Granger Nedensellik
References
- CORTES-JIMENEZ, M PULINA, (2010), In bound tourism and long-run economic growth. Current Issues in Tourism, 13(1), 61–74.
- CRAIGWELL, R., W. MOORE, (2007). Foreign direct investment and tourism in SIDS: Evidence from panel causality tests, Tourism Analysis, 13(4), 427–432.
- ÇİL YAVUZ N., (2006), Türkiye’de Turizm Gelirlerinin Ekonomik Büyümeye Etkisinin Testi: Yapısal Kırılma ve Nedensellik Analizi, Doğuş Üniversitesi Dergisi, 7 (2), 162-171.
- FEREIDOUNI, G. H. A. T MASRON. MALEK A. T. OOIAI. (2010), The interaction between foreign real estate investment and tourism: The Iranian case in Dubai, World Applied Sciences Journal 10 (Special Issue of Tourism&Hospitality), 40-44.
- FEREIDOUNI, G. H. A. T MASRON (2011). The effect of tourism agglomeration on foreign real estate investment: Evidence from selected OECD countries. International Journal of Strategic Property Management, 15 (3), 222-230.
- FEREIDOUNI, G. H. A. M. USAMA (2014). The interaction between tourism and FDI in real estate in OECD countries. Current Issues in Tourism, 17 (2), 105-113.
- GRANGER, C. P. NEWBOLD, (1974) “Spurious Regression in Econometrics”, Journal of Econometrics, 2, 111-120.
- GUJARATİ, N. DOMODAR, (1995), Basic Econometrics, New York: 3rd ed. McGraw-Hill, Inc.
- HACKER, R. S. A. HATEMI-J, (2006). Tests for causality between integrated variables using asymptotic and Bootstrap distributions: The oryand application. Applied Economics, 38(13), 1489-1500.
- HE, C. WANG, J. S. CHENG, (2009). What attracts foreign direct investment in China’s real estate development? The Annals of Regional Science, 46(2), 267–293.
- JIMENEZ L. S. (2002). Tourism Revenues and Residential Foreign Investment Flows in Spain: A Simultaneous Model, Applied Economics, 34, pp. 1399-1410.
- Kültür ve Turizm Bakanlığı. (2016). Turizm istatistikleri. Erişim adresi http://yigm.kulturturizm.gov.tr/TR,9851/turizm-istatistikleri.html
- MERCAN, M. O. PEKER, (2013). Finansal gelişmenin ekonomik büyümeye etkisi: Ekonometrik bir analiz. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 8(1), 93-120.
- NİNG, J. B. YU (2009). The analysis on FDIs technology spill over based on industrial relationship: Chinas’ real estate industry as an example. International Conference on Construction and Real Estate Management, Beijing, China, 05–06 November 2009.
- PERRON Pierre, (1989), The Great Crash, the Oil Price Shock and the Unit Root Hypothesis, Econometrica,vol:57 No:6 pp:1361-1401.
- Resmi Gazete, (2012), Tapu Kanunu ve Kadastro Kanununda Değişiklik Yapılmasına İlişkin Kanun, T.C. Resmi Gazete, 18/05/2012, Sayı: 28296.
- RODRİGUEZ, C. R. BUSTİLLO, (2010). Modeling foreign real estate investment: The Spanish case. Journal of Real Estate Finance and Economics, 41(3), 354–367.
- SANFORD, D. M. H. DONG, (2000). Investment in familiar territory: Tourism and new foreign direct investment. Tourism Economics, 6(3), 205-219.
- SEVER E., M. DEMİR (2007), Türkiye’de Bütçe Açığı ile Cari Açık Arasındaki İlişkilerin VAR Analizi ile İncelenmesi, Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 2(1) pp. 47-53.
- TODA, H. Y., T. YAMAMOTO, (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66(1), 225-250.
- Türkiye İstatistik Kurumu, (2016). Yabancılara yapılan konut satış sayıları istatistikleri. Erişim adresi http://www.tuik.gov.tr/PreIstatistikTablo.do? istab_id=2121
Details
| Primary Language | English |
|---|---|
| Journal Section | Makaleler |
| Authors | |
| Publication Date | July 4, 2018 |
| Acceptance Date | July 4, 2018 |
| Published in Issue | Year 2018 Issue: 51 |
Cited By
TÜRKİYE’DE KONUT SATIŞLARINI ETKİLEYEN FAKTÖRLERİN YERLİ VE YABANCILAR AÇISINDAN İNCELENMESİ
Anadolu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
https://doi.org/10.53443/anadoluibfd.1360449
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