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http://dx.doi.org/10.5351/KJAS.2011.24.5.735

Intervention Analysis of Korea Tourism Data  

Kim, Su-Yong (Department of Statistics, Chung-Ang University)
Seong, Byeong-Chan (Department of Statistics, Chung-Ang University)
Publication Information
The Korean Journal of Applied Statistics / v.24, no.5, 2011 , pp. 735-743 More about this Journal
Abstract
This study analyzes inbound and outbound Korea tourism data through an intervention model. For the analysis, we adopt three intervention factors: (1) IMF bailout crisis in December 1997, (2) Severe Acute Respiratory Syndrome(SARS) outbreak in March 2003, and (3) Lehman Brothers bankruptcy in September 2008. The empirical results show that only the SARS factor lowered inbound tourism from April 2003 with a drastic decline in May 2003 and gradually decaying since then. However, all three factors significantly lowered tourism in the case of outbound tourism. Especially, the effect of the IMF is shown to be permanent from December 1997 and the effects of SARS and the Lehman Brothers bankruptcy abrupt and temporary with a gradual decay.
Keywords
Intervention model; ARIMA model; outlier;
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