Analysis of the Effect of each National Park Characteristics on Willingness To Pay: Using Meta-analysis

National parks are scenic spots representing the country and can be viewed as ecological and cultural tourist destinations that contain various resources. For efficient management of national parks, it is necessary to identify the economic value provided by national parks and establish policy directions based on the economic value. From this point, various studies have been attempted to analyze the value of natural assets such as national parks. In particular, most of the research has been conducted through the contingent valuation method. Therefore, this study tried to review the value of national parks more comprehensively by performing meta-analysis on the case studies of conditional valuation method applied for each national park. However, among their characteristics, the number of visitors may have endogeneity due to the simultaneous relationship with the amount of willingness to pay. In order to consider this endogeneity, the analysis was conducted using each national park designation year and survey year as instrument variables. As a result of the analysis, it was found that the number of visitors, mountain-type national parks, artifacts and national treasures, which are characteristics of national parks, increase the willingness to pay, and the number of natural monuments does not affect it. The results of this study can be used as basic data for future value measurement research and policy establishment.