The Impact of Economic Freedom and International Tourism on International Trade: An Empirical Study in Asian Countries
The objective of this study is to analyze the impact of economic freedom and the development of international tourism on international trade, encompassing exports, imports, and total trade. The research sample includes 22 Asian countries over the period from 1995 to 2020. The study employs the Syst...
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| Format: | Article |
| Language: | English |
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Vilnius University Press
2024-12-01
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| Series: | Organizations and Markets in Emerging Economies |
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| Online Access: | https://ojs.test/index.php/omee/article/view/34763 |
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| author | Buu Kiem Dang |
| author_facet | Buu Kiem Dang |
| author_sort | Buu Kiem Dang |
| collection | DOAJ |
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The objective of this study is to analyze the impact of economic freedom and the development of international tourism on international trade, encompassing exports, imports, and total trade. The research sample includes 22 Asian countries over the period from 1995 to 2020. The study employs the System Generalized Method of Moments (GMM) for estimating the research models. Results indicate that economic freedom, business freedom, and trade freedom play a crucial role in international trade activities (both exports and imports). Furthermore, the development of international tourism also demonstrates a significantly positive impact on trade (both exports and imports). The study suggests that policies towards economic openness, increasing economic freedom, business freedom, and trade freedom should be carefully considered and promoted within the trade development strategies of nations. Additionally, economic policies should also focus on solutions to attract international tourists not only as a source of foreign currency but also as a support to foster the development of trade.
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| format | Article |
| id | doaj-art-5c5bc29111c34b058eee6b528377e23f |
| institution | Kabale University |
| issn | 2029-4581 2345-0037 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Vilnius University Press |
| record_format | Article |
| series | Organizations and Markets in Emerging Economies |
| spelling | doaj-art-5c5bc29111c34b058eee6b528377e23f2025-01-03T06:38:19ZengVilnius University PressOrganizations and Markets in Emerging Economies2029-45812345-00372024-12-01152(31)10.15388/omee.2024.15.13The Impact of Economic Freedom and International Tourism on International Trade: An Empirical Study in Asian CountriesBuu Kiem Dang0https://orcid.org/0009-0003-8327-3222Saigon University The objective of this study is to analyze the impact of economic freedom and the development of international tourism on international trade, encompassing exports, imports, and total trade. The research sample includes 22 Asian countries over the period from 1995 to 2020. The study employs the System Generalized Method of Moments (GMM) for estimating the research models. Results indicate that economic freedom, business freedom, and trade freedom play a crucial role in international trade activities (both exports and imports). Furthermore, the development of international tourism also demonstrates a significantly positive impact on trade (both exports and imports). The study suggests that policies towards economic openness, increasing economic freedom, business freedom, and trade freedom should be carefully considered and promoted within the trade development strategies of nations. Additionally, economic policies should also focus on solutions to attract international tourists not only as a source of foreign currency but also as a support to foster the development of trade. https://ojs.test/index.php/omee/article/view/34763Economic freedominternational tourisminternational tradeAsian Countries |
| spellingShingle | Buu Kiem Dang The Impact of Economic Freedom and International Tourism on International Trade: An Empirical Study in Asian Countries Organizations and Markets in Emerging Economies Economic freedom international tourism international trade Asian Countries |
| title | The Impact of Economic Freedom and International Tourism on International Trade: An Empirical Study in Asian Countries |
| title_full | The Impact of Economic Freedom and International Tourism on International Trade: An Empirical Study in Asian Countries |
| title_fullStr | The Impact of Economic Freedom and International Tourism on International Trade: An Empirical Study in Asian Countries |
| title_full_unstemmed | The Impact of Economic Freedom and International Tourism on International Trade: An Empirical Study in Asian Countries |
| title_short | The Impact of Economic Freedom and International Tourism on International Trade: An Empirical Study in Asian Countries |
| title_sort | impact of economic freedom and international tourism on international trade an empirical study in asian countries |
| topic | Economic freedom international tourism international trade Asian Countries |
| url | https://ojs.test/index.php/omee/article/view/34763 |
| work_keys_str_mv | AT buukiemdang theimpactofeconomicfreedomandinternationaltourismoninternationaltradeanempiricalstudyinasiancountries AT buukiemdang impactofeconomicfreedomandinternationaltourismoninternationaltradeanempiricalstudyinasiancountries |