Symmetric and asymmetric frequency-domain causality between tourism demand and exchange rates in Turkiye: a regional comparison

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dc.authoridCANBAY, Şerif/0000-0001-6141-7510en_US
dc.authoridKIRCA, Mustafa/0000-0002-5630-7525en_US
dc.authoridCoskun, inci Oya/0000-0002-5624-7243en_US
dc.authorscopusid57218769327en_US
dc.authorscopusid57190211397en_US
dc.authorscopusid57192689177en_US
dc.authorwosidCANBAY, Şerif/GXF-4762-2022en_US
dc.authorwosidKIRCA, Mustafa/HIZ-8367-2022en_US
dc.authorwosidCoskun, inci Oya/V-8392-2017en_US
dc.contributor.authorCanbay, Serif
dc.contributor.authorcoskun, Inci Oya
dc.contributor.authorKirca, Mustafa
dc.date.accessioned2024-08-23T16:04:17Z
dc.date.available2024-08-23T16:04:17Z
dc.date.issued2023en_US
dc.departmentDüzce Üniversitesien_US
dc.description.abstractPurposeThis study investigates if the causal relationships between the exchange rates and selected inbound markets' tourism demand are temporary or permanent, and compares market reactions in Turkiye.Design/methodology/approachTourism demand is examined with a regional approach, focusing on the geographical markets, namely Europe, Commonwealth of Independent States (CIS) members and Asian countries, as the top inbound tourism markets, in addition to the total number of inbound tourists to Turkiye. Granger, frequency-domain causality, asymmetric Toda-Yamamoto, and asymmetric frequency-domain causality tests were employed to investigate and compare markets on exchange rate-tourism demand relationship for 2008M01-2020M02.FindingsThe results indicate that exchange rates affect European tourism demand both in the short and long run. The meaning of this Frequency Domain Causality (FDC) analysis finding shows that the exchange rate has both permanent and temporary effects on European tourists. The relationships are statistically insignificant for CIS members and Asian countries. The exchange rates also permanently affect total inbound tourism demand, but the independent variable has no short-run (temporary) effects on total demand. Asymmetric causality tests confirmed a permanent causality relationship from the positive and negative components of exchange rates to the positive and negative components of European and total tourism demand.Originality/valueThe Granger causality test provides information on the presence of a causal relation, while the FDC test, an extended version of Granger causality, enlightens the short- (temporary) and long-run (permanent) relationships and allows for analyzing the duration of the impact. In addition, asymmetric causality relationships are also investigated in the study. Besides, this study is the first in the literature to examine the relationship between tourism demand and the exchange rate regionally (continentally) for Turkiye.en_US
dc.identifier.doi10.1108/IJOEM-06-2022-0899
dc.identifier.issn1746-8809
dc.identifier.issn1746-8817
dc.identifier.scopus2-s2.0-85151436681en_US
dc.identifier.scopusqualityQ2en_US
dc.identifier.urihttps://doi.org/10.1108/IJOEM-06-2022-0899
dc.identifier.urihttps://hdl.handle.net/20.500.12684/14152
dc.identifier.wosWOS:000957041900001en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherEmerald Group Publishing Ltden_US
dc.relation.ispartofInternational Journal of Emerging Marketsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectTourism demanden_US
dc.subjectRegional analysisen_US
dc.subjectExchange ratesen_US
dc.subjectTurkiyeen_US
dc.subjectFrequency-domain causalityen_US
dc.subjectUnit-Rooten_US
dc.subjectEmpirical-Analysisen_US
dc.subjectRate Volatilityen_US
dc.subjectCointegrationen_US
dc.subjectModelsen_US
dc.subjectImpacten_US
dc.subjectTestsen_US
dc.subjectAggregationen_US
dc.subjectConsumptionen_US
dc.subjectArrivalsen_US
dc.titleSymmetric and asymmetric frequency-domain causality between tourism demand and exchange rates in Turkiye: a regional comparisonen_US
dc.typeArticleen_US

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