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Effects of a holiday trip on health and quality of life: evidence from a natural experiment in South Korea
- Authors
- Park, Sangkon; Park, Cheolsung; Kang, Changhui
- Issue Date
- 8-Sep-2018
- Publisher
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
- Keywords
- Quality of life; travel; social tourism; instrumental variable; natural experiment
- Citation
- APPLIED ECONOMICS, v.50, no.42, pp 4556 - 4569
- Pages
- 14
- Journal Title
- APPLIED ECONOMICS
- Volume
- 50
- Number
- 42
- Start Page
- 4556
- End Page
- 4569
- ISSN
- 0003-6846
1466-4283
- Abstract
- We examine whether having a holiday trip affects an individual's well-being, namely quality of life, health status, stress level and health behaviours. We use the two-stage estimation method to control for endogeneity of a travel experience, exploiting a natural experiment of distributing Travel Vouchers at random among qualified applicants in South Korea in 2012. We find that, for applicants whose decision to travel is influenced by receiving a voucher, a travel experience has no significant effects on the traveller's well-being measured 3-12months later. We also find that the OLS estimates overstate benefits of a travel.
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Collections - College of Business & Economics > School of Economics > 1. Journal Articles
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