국제관광 교역의 결정요인

International Travel Trade Factors: Panel Data Analysis with Emphasis on Representative Demand Theory

Except services trade, commodity trade theories have been spelt out by many scholars historically. Including Adam Smith’s theory of absolute cost, Ricardo’s theory of comparative cost, Heckscher-Ohlin’s Theorem of factor endowment, and Burnun’s product life cycle theory are among such theses. Authors’ interest here is Stephan Linder’s representative demand hypothesis that domestic demand itself could decide export demand from overseas. Arguably writers assist this hypothesis could be applied to external tourism demand, stating that well-beaten domestic demand promotes inbound tourism demand. World panel data were manipulated and run by regression models grouped into random effect models and fixed effect model. Three to four year’s time-lagged dummy were applied. Models were found quite significant, implying strong confirmation of Linder’s hypothesis.