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Estimating Price Effects in an Almost Ideal Demand Model of Outbound Thai Tourism to East Asia

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Chang, Chia-Lin y Khamkaew, Thanchanok y McAleer, Michael (2012) Estimating Price Effects in an Almost Ideal Demand Model of Outbound Thai Tourism to East Asia. [ Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE); nº 02, 2012, ] (Presentado)

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URL Oficial: http://eprints.ucm.es/14092/


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Resumen

This paper analyzes the responsiveness of Thai outbound tourism to East Asian destinations, namely China, Hong Kong, Japan, Taiwan and Korea, to changes in effective relative price of tourism, total real total tourism expenditure, and one-off events. The nonlinear and linear Almost Ideal Demand (AID) models are estimated using monthly data to identify the price competitiveness and interdependencies of tourism demand for competing destinations in both long run (static) and short run error correction (dynamic) specifications. Homogeneity and symmetry are imposed in the long run and short run AID models to estimate the elasticities. The income and price elasticities provide useful information for public and private tourism agents at the various destinations to maintain and improve price competitiveness. The empirical results show that price competitiveness is important for tourism demand for Japan, Korea and Hong Kong in the long run, and for Hong Kong and Taiwan in the short run.


Tipo de documento:Documento de trabajo o Informe técnico
Información Adicional:

The authors are grateful to Ravee Phoewhawm for technical support. For financial support, the first author is grateful to the National Science Council, Taiwan, the second author thanks the Office of Higher Education Commission, Ministry of Education, Thailand, for a CHE-PhD 2550 scholarship, and the third author acknowledges the Australian Research Council, National Science Council, Taiwan, and the Japan Society for the Promotion of Science.

Palabras clave:Almost Ideal Demand (AID) model, Tourism demand, Price competitiveness, Substitutes, Budget shares, Error correction.
Materias:Ciencias Sociales > Economía > Turismo
Ciencias Sociales > Economía > Econometría
JEL:C3, C5, D12, L83
Título de serie o colección:Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE)
Volumen:2012
Número:02
Código ID:14092
Depositado:10 Ene 2012 15:41
Última Modificación:17 Jun 2016 09:25

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