Salih Turan Katircioglu

Salih Turan Katircioglu
Eastern Mediterranean University · Department of Banking and Finance

Professor of Economics

About

120
Publications
39,716
Reads
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5,707
Citations
Citations since 2016
49 Research Items
4672 Citations
20162017201820192020202120220200400600800
20162017201820192020202120220200400600800
20162017201820192020202120220200400600800
20162017201820192020202120220200400600800
Additional affiliations
September 2002 - present
Eastern Mediterranean University
Position
  • Professor

Publications

Publications (120)
Article
The goal of this research is to figure out the moderating act of ethical leadership on the effects of job satisfaction and psychological capital of employees. The Hotel industry in Northern Cyprus has been preferred with this respect. The study was conducted within the appropriate literature. Research-oriented data collection tools designed and use...
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This study investigates interactions between the stock performance of tourism firms and business and finance conditions in a vast tourist destination country, Turkey. Results of the study confirm the long-term significant effects of the business and finance environment on the stock performance of Turkish tourism firms using a stock valuation model....
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This article searches the effects of tourism development on emission pollutants in Malta using (1) the autoregressive distributed lag approach and (2) two datasets which are annual data from 1971 to 2018 and quarterly data from 1990Q1 tı 2018Q4 as per data availability. Findings confirm that tourism, energy usage, and carbon dioxide emissions are i...
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This study aims to confirm an empirical link between financial openness, foreign trade and income growth in South Africa. Although domestic credits, trade and growth are cointegrated, the findings indicate that no such link can be observed between money supply and exports as exports are a result of foreign demand and hence subject to foreign moneta...
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Purpose This paper focuses on the role of sentiment and monetary policy (both domestic and the United States (US)) in explaining the changes in the Mexican tourism firms' stock returns for the period 1998M03–2019M12. Design/methodology/approach The authors conducted the ordinary least square regression estimations using various models to investiga...
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This study conducts an empirical investigation about the moderating role of the informal economy on Turkey's environmental performance by employing advanced econometric techniques that account numerous structural breaks in series. In this extent, we created three interaction variables by captivating the impact of informal economic activities on CO...
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This study examines the effects of business and finance conditions on the stock performances of firms operating in the tourism, hospitality, and leisure industries. This research employs panel-based first- and second-generation estimators, such as Westerlund cointegration, dynamic ordinary least squares (DOLS), and Dumitrescu–Hurlin panel Granger c...
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This study investigates the role of the financial system in energy demand in the cases of developed and developing countries. Time-series analyses are carried out using the annual data period from 2000 to 2015. Results indicate that the financial system and financial markets are long-term catalysts for energy consumption in both groups under consid...
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A R T I C L E I N F O JEL classification: O13 P18 Q41 Q43 Keywords: Financial efficiency Renewable energy Innovation Paris agreement OECD A B S T R A C T This study searches the role of the financial system efficiency in renewable energy demand for the case of the 36 OECD countries. Numerous financial system proxies are used between 1990 and...
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This study investigates the dynamic effects of the shadow economy and environmental pollution on the energy stock prices in the case of the Organization for Economic Co-operation and Development (OECD) countries via generalized methods of moments (GMM) and during the years from 2004 to 2014. Results suggest significant links between the volume of s...
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This study explores the nexus between tourism and economic growth in countries bordering the Mediterranean Sea while controlling for foreign direct investment and domestic credits as additional variables within a multivariate panel framework. Empirical evidence is based on annual data from 1995 to 2016 for a panel of 14 selected countries around th...
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The present study investigates the long-run equilibrium relationship between banking sector’s profitability and its internal and external determinants such as inflation, growth and oil prices in Turkey. The study adopts two separate models in order to differentiate the direct and indirect effects of oil price changes on bank profitability. Results...
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Purpose This study aims to investigate the role and spillover effects of the financial sector on the size of the informal economic activity in Turkey. Design/methodology/approach Time series analysis has been adopted for annual data of the 1970-2017 period. New approaches in unit root and cointegration tests have been used in this study. Estimatio...
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The purpose of this research study is to investigate the role of shadow economies in the levels of ecological footprint for the case of Turkey. Annual data set ranging from 1961 to 2014 was used with this respect. The results of this study verify the long-term and positively elastic impact of shadow economic activities on the level of ecological fo...
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This study searches the impact of tourism growth on emission pollutants in Cyprus (north), which is a small island in the Mediterranean and has shown significant development in hotel and casino sectors in the last two decades. Results from time-series analyses reveal that an inverted U-shaped EKC hypothesis is confirmed for Cyprus with and without...
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The article examines the effects of urbanization on the international trade of services, mainly exports and imports. A supply‐side growth model is used to analyze this nexus. Panel data are constructed consisting of 64 countries for a period between 1980 and 2017. The system generalized method of moments approach is used to forecast the role of urb...
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This study estimates the effects of higher education development on climate changes through energy consumption in the case of Cyprus (North), which progressed successfully in this sector although countries other than Turkey do not recognize its state (Turkish Republic of Northern Cyprus). The results of this study reveal that there is strong eviden...
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This study investigates the role of tourism growth in generating additional energy consumption in the case of major tourist countries. Panel data that range from 1995 to 2014 have thus been constructed. Significant results of this study confirm long term economic effects of tourism growth in energy usage in tourist destinations; tourism exerts posi...
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This paper contributes to the existing literature by investigating the impact of political instability risk on risk-taking in the banking sector of 75 countries, which is the first attempt for this nexus to the best of our knowledge. The dynamic panel data model (System-GMM) showed that political instability risk significantly increases risk-taking...
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The present study examines the role of financial development in globalization using the global panel data set. Annual data that ranges from 1980 to 2014 has been selected for 181 countries. Panel econometric procedures reveal that financial markets positively in general impacts on economic globalization. However, when macroeconomic fundamentals suc...
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The interaction among the energy unit prices, which are considered as the most effective factor on the realization of economic growth, and the distribution of this interaction throughout the manufacturing process have become popular subjects in research recently. Especially, the scarcity of energy resources and the problems encountered in their sup...
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This study investigated the effects of terrorist attacks on the stock performance of tourism, travel, and leisure industries. The major tourist countries have been selected for this purpose. The novelty of this research is that not only it focuses on the relationship between terrorism and tourism stock performance and volatility but also uses an ev...
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This study investigated the effects of terrorist attacks on the stock performance of tourism, travel, and leisure industries. The major tourist countries have been selected for this purpose. The novelty of this research is that not only it focuses on the relationship between terrorism and tourism stock performance and volatility but also uses an ev...
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This article examines the role of climate change on tourist flows to Malta, Cyprus (north), and Cyprus (south) which are major tourist destinations in the Mediterranean. Results from time series analyses reveal that climate change positively impacts on foreign tourist flows to these island states. Thus, this finding is reasonable where we argue tha...
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The aim of this study is to examine the role of oil price changes in the effects of services trade and tourism on real income growth in Turkey. Time series analysis using the 1960–2017 annual period has been adapted with this respect. Results confirm the long-term impacts of tourism and services trade sectors on real income growth in Turkey. Touris...
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The present study searches the effects of international oil prices on the performance of financial sector firms in the Amman Stock Exchange (ASE). Using the daily data which range from July 3, 2006 to April 12, 2018, we found that financial performance of the ASE firms is downturn during this data period and oil prices do not impact on these perfor...
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The present study searches the effects of international oil prices on the performance of financial sector firms in the Amman Stock Exchange (ASE). Using the daily data which range from July 3, 2006 to April 12, 2018, we found that financial performance of the ASE firms is downturn during this data period and oil prices do not impact on these perfor...
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The aim of this study is to search the role of tourism development in the environmental quality for the major tourist destination countries. Ecological footprint has been selected as a proxy of environmental quality with this respect while top 10 tourist countries have been selected as samples of the study. Panel estimation results of this study sh...
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The aim of this study is to search the role of tourism development in the environmental quality for the major tourist destination countries. Ecological footprint has been selected as a proxy of environmental quality with this respect while top 10 tourist countries have been selected as samples of the study. Panel estimation results of this study sh...
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This study empirically investigates possible co integration and causal relationship between economic growth and sectoral growth in North Cyprus mainly including agriculture, industry and services sector. Due to the political isolation of Turkish Republic of Northern Cyprus (TRNC) everything went worse in the country since 1974. This caused huge eco...
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This paper investigates the importance of travel agency selection factors for undergraduate students from different countries who use travel agencies of a small island-North Cyprus. A total of 250 undergraduate students studying at the Faculty of Business and Economics of Eastern Mediterranean University responded to a travel agency selection facto...
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The main objective of this paper is to investigate if a wage difference exists between formal and informal sectors in the case of the Turkish labour market using a sample of wageworkers. To this end, we use data for 2004 and 2009 and a novel definition of the informal sector. On the methodological front, we adopt three alternative decomposition tec...
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This article investigates the effects of innovation attempts on the venture capital and investment activity in the cases of the selected European Union plus European Free Trade Agreement countries using annual panel data and by controlling for real income growth and business sophistication. Our findings suggest that innovation has positively signif...
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This article investigates the effects of innovation attempts on the venture capital and investment activity in the cases of the selected European Union plus European Free Trade Agreement countries using annual panel data and by controlling for real income growth and business sophistication. Our findings suggest that innovation has positively signif...
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We investigated the role of urbanization in the conventional environmental Kuznets curve (EKC) of the globe. The overall population and rural population were also considered for control purposes. Based on our findings, we suggest that the conventional EKC of the globe is not an inverted U-shape but becomes downward sloping when urban development is...
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This study investigates the role of external debt stock in Turkey, which has suffered from heavy (external and domestic) debt stock for many years. Annual data from 1960 to 2013 was analyzed using time series analysis in order to study this. The results confirm the validity of the conventional environmental Kuznets curve (EKC) in the case of Turkey...
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This study introduces a new research topic that investigates the relationship between fiscal development and carbon emissions in Turkey through testing Environmental Kuznets Curve (EKC) hypothesis. Annual data covering the period, 1960–2013, has been used and in addition to gross domestic product and energy consumption, fiscal policy variables have...
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This study aims to investigate the spillover effects of the financial services sector development on the size of informal economic activity in the case of the European Union (EU) countries. The results from panel data analysis show that there exists an inverted U-shaped relationship between financial services and informal economic activity in the E...
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This study investigates the interaction between crude oil prices and the stock prices of oil, technology and transportation companies listed on U.S. stock exchanges, using weekly data covering the period from 2 January 1990 to 3 February 2015. Considering the importance of regime shifts or structural breaks in econometric analysis, this study emplo...
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This article aims to examine the interactions between tourism growth and financial development in Turkey, which is a top tourist destination and has developed a well-functioning financial system over the last decade. The results confirm a long-term association between tourism development and financial development; foreign direct investments and for...
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This study investigates how economic, social, and political globalization indicators influence tourism development. We applied different approaches of panel regression to panel data from a sample including 133 countries between 1995 and 2014. The results indicate that economic, social, and political globalization are significant factors for tourism...
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We tested the role of urbanization in the conventional Environmental Kuznets Curve (EKC) of Turkey’s developing economy and rapid urbanization. The effects of an increase in carbon dioxide emissions were due to the usage of fuel oil and other traditional energy consumption patterns related to urban development. Based on our findings, we suggest tha...
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The present study investigates interactions between imports and energy consumption in the case of Turkey, which heavily depends on enervngy imports over the years. Empirical results reveal that energy consumption exerts significant effects on imports both in the long-term and short-term periods. Results from causality, impulse responses, and varian...
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Employing second-generation econometric procedures that consider multiple structural breaks in the series, this article examines Turkey as a case study in the investigation of the moderating role of financial development in a conventional environmental Kuznets curve (EKC). The study uses two separate models for this purpose: (1) the main effects mo...
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This study examines the oil price risk exposure of U.S. financial and non-financial industries over the period of January 1983 to March 2015. We include the oil price risk factor into the Fama and French [17] five-factor asset pricing model and identify the structural breaks in the equity returns using the test created by Bai and Perron [4]. The oi...
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This study investigates the empirical relationship between energy consumption, international trade, and real income in Canada which has an important role in global energy and trade. It employs bounds tests to level relationships and conditional error correction models through ARDL specification to a new version of the Solow Growth model. Using annu...
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This study aims to research the empirical relationship between business conditions (BCs) and crude oil prices by employing a time series analysis for a panel of regions. BCs have been proxied by real income and real industrial production (IND) as advised in the relevant literature. Results suggest that economic activity and industrial value added a...
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Abstract - This study investigates empirically an extended version of the Environmental Kuznets Curve model that controls for tourism development. We find that international tourist arrivals into Turkey alongside income, squared income and energy consumption, cointegrate with CO2 emissions. Tourist arrivals, growth and energy consumption exert a po...
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The present study evaluates a carbon sequestration project for the three plant species in arid and semiarid regions of Iran. Results show that Haloxylon performed appropriately in the carbon sequestration process during the 6 years of the International Carbon Sequestration Project (ICSP). In addition to a high degree of carbon dioxide sequestration...
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Purpose – The purpose of this study is to investigate the long-term equilibrium relationship between carbon dioxide (CO2) emissions and total biomass consumption (BC) in Turkey, which has a rich diversity of ecological conditions prevailing throughout its regions. Design/methodology/approach – Bounds tests and conditional error correction models u...
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This study investigates the relationship between oil price movements and macroeconomic aggregates, such as gross domestic product (GDP), consumer prices (CPI), and unemployment, for OECD countries. To do this, second generation econometric methods have been employed to panel data including panel unit root tests, panel cointegration tests, and panel...
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This article empirically investigates the relationship between stock market/banking sector development and economic growth by controlling for the effects of human and physical capital factors in a seasonal cointegration framework. We use a sample of quarterly and seasonally unadjusted data which covers the period 1965Q1–2011Q4. The results suggest...
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This study investigates the empirical relationship between energy consumption, international trade, and real income in the USA, which is the second largest energy consuming country following China. It employs bounds tests to level relationships and conditional error correction models through Auto-Regressive Distributed Lag specification. Using annu...
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The aim of this study is to investigate long-run equilibrium relationship and the direction of causality between health care development and higher education in Northern Cyprus, which has shown a tremendous development in higher education sector. Results of the present study reveal that higher education is a long term determinant of health care dev...
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This study investigates the relationship between tourism development and carbon emissions in Singapore through testing Environmental Kuznets Curve hypothesis, which is a major tourist destination state and whose economy is linked with diverse energy resources, high-level urbanization, and rapid industrialization. Results reveal that tourism develop...
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The novelty of this study is to investigate if there is radioactive convergence around Fukushima city of Japan as a result of earthquake and tsunami in March 2011. The research also aims to investigate whether the other nearby cities located around Fukushima city shared any common convergence experience following the first two weeks of the March 20...
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This study estimates higher education-induced energy consumption in the case of the TRNC (Turkish Republic of Northern Cyprus). Although the TRNC is a non-recognized state and a small island; it attracts many international students each year and has shown tremendous development in higher education since the 1990s. The results of the present study r...
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This study investigates the impact of the selected financial development proxies and foreign direct investment (FDI) on the growth in the case of Turkey, using annual data for the 1960-2011 period. The second-generation econometric procedure has been applied for the first time to the Turkish data with this respect. Unit root tests by Carrion-i-Silv...
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This study employs a new version of the Solow Growth Model in order to investigate the higher education-led growth (HELG) hypothesis in the case of North Cyprus. Results reveal that a long-run equilibrium relationship exists between real income growth of North Cyprus and its determinants, namely capital, labor, and the higher education sector. Resu...
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The present study investigates the long-run equilibrium relationship among international tourism, energy consumption, and carbon dioxide emissions (CO2), and the direction of causality among these variables in the case of a small island, Cyprus, which attracts more than 2 million international tourists every year. Results from "tourism-induced mode...
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This study empirically tests for long-run equilibrium relationship and the direction of causality between imports and energy consumption in Singapore. The results of the present study reveal that a long-run equilibrium relationship exists between import growth and energy consumption growth in Singapore by using bivariate systems. Imports of Singapo...
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This paper examines the relationship between natural gas consumption and economic growth in Iran within a multivariate production model. We also investigate the effects of natural gas price on its consumption and economic growth using a demand side model. The paper employs bounds test approach to level relationship over the period of 1972-007. We f...
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This paper investigates the relationship between inflation, economic growth and their respective uncertainties in Iran for the period of 1988–2008 by using quarterly data. We employ a Bivariate Generalized Autoregressive Conditional Heteroskedasticity-in-Mean (BGARCH-M) model to examine in a unified empirical framework all the possible interactions...
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This paper investigates the link between financial development and economic growth in a small island economy, North Cyprus. Bounds testing approaches as well as causality techniques are conducted for analyzing an extended version of the augmented Solow growth model over the period 1977–2010. The empirical results suggest that investments in the fin...
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The purpose of this paper investigates the direction of causality between the monthly stock returns and the monthly net foreign investor flows, and the existence of feedback trading by foreign investors for the "blue chip" stocks of the Istanbul Stock Exchange (ISE), an emerging stock market. Monthly net foreign investor flows and stock returns of...
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The main aim of this paper is to investigate the relationship between energy consumption and trade by using econometric analysis for G7 countries covering the period 1960-2010, as those countries are very important actors of the global economy since they all together represent around 90% of global GDP and 80% of global trade. Time series analysis i...
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This paper provides new evidence on the long-run relationship between exports and imports of the Iranian economy by employing bounds test approach to level relationship. In Iran, there have been many unusual policy changes and/or external shocks to the economy which resulted in the occurrence of multitude of structural breaks in macroeconomic varia...
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Purpose – There are international students studying in the universities of Northern Cyprus that come from more than 68 countries. Travel agencies are among those firms which are affected the most from these international students. Therefore, the purpose of this study is to investigate how international students perceive travel agency services by us...
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This paper investigates the long-run relationship between exports,imports and economic growth in the Iranian economy using annual data over the period of 1960-2007. We extend the Feder's model (1982) by entering a proxy for human capital. The Bounds Test approach to level relationship developed by Pesaran et, al. (2001) has been adapted in the pres...
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Despite the unfavorable circumstances, huge efforts were made to build a developed economic structure and establish necessary conditions for improvement during the establishment period (1923-1938) of Turkey. The improvement efforts of young republic and resulting business entities were off from sufficient academic interest and research. Although th...
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This paper empirically investigates the tourism-led growth (TLG) hypothesis in the case of Singapore by employing the bounds test to cointegration, error correction models and Granger causality tests using annual data from 1960 to 2007. Results confirm the existence of long-term equilibrium relationship between international tourism and economic gr...
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This study investigates the bank selection criteria of undergraduate students who are future potential customers of banks from different regions of the world in a small island economy by comparing the selection factors of international students for the first time. Survey results of 258 respondents show that there are not huge differences in the ban...
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This article investigates the relationship between Exchange Market Pressure (EMP) and macroeconomic fundamentals in Turkey using the Autoregressive Distributed Lag (ARDL) bounds testing procedure and Vector Error Correction Model (VECM) within the framework of the canonical currency crisis models. The results of the bounds tests suggest the existen...
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The present study investigates bank selection criteria of customers in Romania. A total of 248 bank customers responded to the bank selection instrument in two main cities of Romania: Bucharest and Constanta. "The number of ATM (automatic teller machines) booths" has been found to be the most important selection criteria for bank customers from Rom...
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Research on searching the empirical relationship between international tourism and foreign direct investment (FDI) is quite rare in the relevant literature. 16 find that FDI is a catalyst for international tourism in the case of China. However, more empirical works are needed in the literature; therefore, this paper contributes to this literature b...
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This study investigates the long-run equilibrium relationship between international tourism, higher education growth, real income growth and the direction of causality among these variables for the Turkish Republic of Northern Cyprus, which is not recognised by any country other than Turkey. Results reveal that international tourism and higher educ...
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This paper empirically investigates the tourism-led growth (TLG) hypothesis in the case of Singapore by employing the bounds test for cointegration, error correction models and Granger causality tests using annual data from 1960 to 2007. The results confirm the existence of a long-term equilibrium relationship between international tourism and econ...
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Full-text available
This study employs the bounds test for co-integration and Granger causality tests to investigate the long-run equilibrium relationship and the direction of causality between financial development, international trade and real income growth for the Cyprus economy. The results of the study reveal that financial development as measured by broad money...