일본인 한국관광수요의 결정요인에 관한 연구

Determinants of Japanese Tourism Demand for Korea

This paper is to investigate characteristics of Japanese tourism demand for Korea using annual data from 1966 to 2007. Author builds basic model based on tourism demand theory, performs cointegration test, and estimates long-run equilibrium equation as well as error correction model in order to characterize Japanese tourism demand for Korea. Major findings are as follows. Long-run equilibrium relationships exist only in the following two cases; (1) between the number of total arrivals and income (2) between the number of total arrivals and the nominal exchange rate. This implies the possibility of spurious regression if we use a combination of income, relative price and exchange rate as a determinants of Japanese tourism demand for Korea, especially when annual data are used. Other results such as income elasticity of demand and speeds of adjustments to equilibrium are discussed.