Causality analysis of oil consumption, oil-spills, and economic growth in korea SCOPUS KCI

Title
Causality analysis of oil consumption, oil-spills, and economic growth in korea
Author(s)
Jin, S.-J.; Park, S.-H.; Yoo, S.-H.
KIOST Author(s)
Park, Se Hun(박세헌)
Publication Year
2018
Abstract
The purpose of this study is to examine the causal relationship among oil consumption, oil-tanker accidents, and economic growth, and to derive policy implications from the results. Therefore, this paper attempts to analyze the short term, long term, and strong causality factors pertaining to the relationship between oil consumption, oil-tanker accidents, and economic growth in Korea using time-series techniques and annual data for the 1984−2016 period. Tests for unit roots, co-integration, and Granger-causality based on an error-correction model are presented. The results show that bidirectional causality exists between oil consumption and oil-tanker accidents, between economic growth and oil consumption, and between oil-tanker accidents and economic growth. The study shows that oil was used as a core energy source during the rapid economic growth of Korea in the past, and that this caused the number of oil-tanker accidents to rise as oil consumption increased. © 2018, Korea Ocean Research and Development Institute. All rights reserved.
ISSN
1598-141X
URI
https://sciwatch.kiost.ac.kr/handle/2020.kiost/1063
DOI
10.4217/OPR.2018.40.4.271
Bibliographic Citation
Ocean and Polar Research, v.40, no.4, pp.271 - 280, 2018
Publisher
Korea Ocean Research and Development Institute
Keywords
Causality; Economic growth; Error-correction model; Oil consumption; Oil-spills
Type
Article
Language
Korean
Document Type
Note
Publisher
Korea Ocean Research and Development Institute
Related Researcher
Research Interests

Economics Analysis of the Ocean Science and Technology,Marine Industry Policy,해양과학기술 경제성 분석,해양산업정책

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