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Short- and Long-Run Determinants of Tourist Flows: The Case of South Korea

In: Advances in Applied Economic Research

Author

Listed:
  • George Agiomirgianakis

    (School of Social Sciences, Hellenic Open University)

  • Dimitrios Serenis

    (School of Economics, Finance and Accounting, Coventry University)

  • Nicholas Tsounis

    (Western Macedonia University of Applied Sciences
    Hellenic Open University)

Abstract

This paper examines the effect of Exchange Rate Volatility for South Korea, on tourist arrivals exports during the period of first quarter of 1990 to fourth quarter of 2015. It is claimed by some researchers that high fluctuations of exchange rates cause a reduction on tourist arrivals. Empirical researchers often utilize the standard deviation of the moving average of the logarithm of the exchange rate as a measure of exchange rate fluctuation. In this study, a new measure for measuring volatility is proposed. The empirical methodology used relies upon the theory of cointegration, error correction representation of the exchange rate volatility measures using the Autoregressive Distributed Lags modeling to cointegration. Overall, our findings suggest that there is a negative effect of volatility to tourist arrivals for Korea.

Suggested Citation

  • George Agiomirgianakis & Dimitrios Serenis & Nicholas Tsounis, 2017. "Short- and Long-Run Determinants of Tourist Flows: The Case of South Korea," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Applied Economic Research, chapter 0, pages 861-872, Springer.
  • Handle: RePEc:spr:prbchp:978-3-319-48454-9_58
    DOI: 10.1007/978-3-319-48454-9_58
    as

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