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Structural Change of Balance of Travel After the Currency Crisis in Korea

  • Journal of Tourism Sciences
  • Abbr : JTS
  • 2004, 27(4), pp.31-70
  • Publisher : The Tourism Sciences Society Of Korea
  • Research Area : Social Science > Tourism

박동렬 1

1울산대학교

Accredited

ABSTRACT

This study analyzed the change of incomes and expenditures in overseas travel after the 1997 foreign exchange crisis in Korea through the analysis of the changes in the trend of travel balance and its ratio to the current account balance of international payments after the deregulation of overseas travel. The analysis included the foreign exchange movement, GDP, and fluctuation of prices as independent variables. The results of the analysis using Johnson’s model revealed that travel balance was sharply influenced by the foreign exchange movement. In particular, the structural change of travel balance was observed to occur following the change of the foreign exchange policy after the IMF bailout.

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