https://www.um.edu.mt/library/oar/handle/123456789/28493 Thu, 09 Apr 2026 06:34:48 GMT 2026-04-09T06:34:48Z https://www.um.edu.mt/library/oar/handle/123456789/31442 Title: Tourists’ satisfaction and revisiting : an investigation of causality effects Authors: Kompotis, Apostolos; Papanastasiou, Ioannis A.; Vassiliadis, Christos; Voyatzis, Alexandros Abstract: In this paper, a switching regime model with known sample separation is applied to Greek data, to investigate causality linkages between tourists' satisfaction and their willingness for revisiting. The empirical evidence shows the existence of these causality effects. Moreover, it shows that the willingness for revisiting crucially depends on many qualitative aspects of tourist services and accommodation. Thu, 01 Jan 2004 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31442 2004-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31441 Title: The independence of central bank in view of Rogoff : the Turkish experience Authors: Baydur, Cem Mehmet; Suslu, Bora; Bekmez, Selahattin Abstract: According to Rogoff, economic variables may fluctuate due to changes in economic policies. In the long run, economic policies result in increases in fluctuations in inflation rate without increasing average outp level. From the perspective of Rogoff, problems regarding inflation instability can be overcame by giving the authority of making monetary policy to an independent institution. This study analyzes “legal independency” of the CBRT according to the theoretical framework developed by Rogoff. In addition, we tested independency of the CBRT by using Cukierman index, and concluded that independency of the CBRT has increased after a new law introduced in April 2001. Our econometric tests indicated that there is a negative relationship between inflation rate and independency of the CBRT. We could not find, however, any evidence to accept or reject the hypothesis of “an independent central bank results in a stable output level.” Thu, 01 Jan 2004 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31441 2004-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31440 Title: The impact of EU enlargement on current and new member states. An assessment from the economic and political point of view Authors: Papaioannou, George Abstract: The fifth enlargement of the European Union, apart from the most demanding in terms of preparation for the candidates and EU institutions has been the most ambiguous in terms of potential impacts both on economic and political spheres. In this paper we try to identify the directions of potential consequences based on the performance of the new countries during the pre-accession period and the degree of preparation by the time of the first part of accession. The preliminary assessments show that EU and newcomers economies shall face a series of positive impacts in terms of growth, productivity, employment and competitiveness, though to different degrees, while political and social conditions will continue to improve. The greatest challenge for EU policy makers, will continue being the assurance of socio-economic stability during the biggest enlargement ever in EU, yet, with less intervention through an adjusted to the new needs decision making process. Thu, 01 Jan 2004 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31440 2004-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31439 Title: The Gibson Paradox : an empirical investigation for Turkey Authors: Halicioglu, Ferda Abstract: This paper tests the existence of Gibson paradox using the traditional and modem time series techniques in the case of a developing country, Turkey. Even though the results from the traditional Gibson paradox regression suggested a positive relationship between the interest rates and the prices levels in Turkish data, subsequently it was proven to be spurious. On analyzing the time series properties of the variables and the results from the Johansen cointegration procedure, we reveal that there is no support of the Gibson paradox in Turkish data. Thu, 01 Jan 2004 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31439 2004-01-01T00:00:00Z