AIDS와 BEKK모형을 이용한 인바운드 관광객의 소비에 대한 연구

This study is to examine the expenditure behavior of inbound tourists in Korea through the interrelation between several tourism product categories, including shopping, hotel accommodation, food and beverage, and other consumptions using the AIDS and the BEKK model. This study can be summed up as follows: First, both homogeneity and symmetry condition were rejected during almost all periods, so the attributes of demand theory were satisfied and 60 of 81 estimates were significant. Second, in Marshallian price elasticity, the own and cross elasticity over whole period were mostly inelastic as complement goods, whereas the cross elasticity between hotel and other and between shopping and others was found in elastic complement. Third, all consumptions were normal goods in the aspect of expenditure(income) elasticity over whole period, and hotel is very elastic and sensitive as luxuries. The Hicksian price elasticity was almost all positive substitutes. Fourth, the BEKK model's GARCH() showed one-way or two-way volatility spillover effects on the own expenditure and the asymmetric effects in the own expenditure and other categories. Hence, this study identified the expenditure behavior of inbound tourists in Korea through the interrelation between several tourism product categories. And we confirmed the casuality of consumption expenditures of inbound tourists as a result of possible elasticity and spillover and asymmetric effects of volatility among tourism categories in Korea.