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Determinants of volatility on international tourism demand for South Korea: an empirical note

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  • Sung Yong Park
  • Sang Young Jei

Abstract

This article examines volatility and its determinants of international tourism demand for Korea. Based on the exponential generalized autoregressive heteroskedasticity model, some evidences are found such that the leverage effects are presented in the tourism demand, and the determinants of volatility are country specific. The finding illustrates that the specific characteristics of a particular origin country should be taken into account to develop policies or plans for tourism industries.

Suggested Citation

  • Sung Yong Park & Sang Young Jei, 2010. "Determinants of volatility on international tourism demand for South Korea: an empirical note," Applied Economics Letters, Taylor & Francis Journals, vol. 17(3), pages 217-223, February.
  • Handle: RePEc:taf:apeclt:v:17:y:2010:i:3:p:217-223
    DOI: 10.1080/13504850701720924
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    References listed on IDEAS

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    1. Haiyan Song & Peter Romilly & Xiaming Liu, 2000. "An empirical study of outbound tourism demand in the UK," Applied Economics, Taylor & Francis Journals, vol. 32(5), pages 611-624.
    2. Engle, Robert F, 1982. "Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation," Econometrica, Econometric Society, vol. 50(4), pages 987-1007, July.
    3. Nelson, Daniel B, 1991. "Conditional Heteroskedasticity in Asset Returns: A New Approach," Econometrica, Econometric Society, vol. 59(2), pages 347-370, March.
    4. Christine Lim & Michael McAleer, 2001. "Cointegration analysis of quarterly tourism demand by Hong Kong and Singapore for Australia," Applied Economics, Taylor & Francis Journals, vol. 33(12), pages 1599-1619.
    5. Michael Vogt & Chutima Wittayakorn, 1998. "Determinants of the demand for Thailand's exports of tourism," Applied Economics, Taylor & Francis Journals, vol. 30(6), pages 711-715.
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    Cited by:

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    2. Wai Hong Kan Tsui & Faruk Balli, 2017. "International arrivals forecasting for Australian airports and the impact of tourism marketing expenditure," Tourism Economics, , vol. 23(2), pages 403-428, March.
    3. Dębski Maciej & Nasierowski Wojciech, 2017. "Criteria for the Selection of Tourism Destinations by Students from Different Countries," Foundations of Management, Sciendo, vol. 9(1), pages 317-330, December.

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