Korea Trade Review (무역학회지)

Korea Trade Research Association (한국무역학회)
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A study on the effect of economic indicators on container freight rates

경제지표가 컨테이너 운임에 미치는 영향에 관한 연구

  • Young-Kyou HA (Department of International Trade and Logistics, Chung-Ang University)
  • 하영규 (중앙대학교 무역물류학과)
  • Received : 2021.11.29
  • Accepted : 2022.02.26
  • Published : 2022.02.28
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Abstract

This study was conducted because the global economic downturn caused by COVID-19 caused a surge in logistics costs and it was no longer possible to predict logistics costs using existing methods. For this study, we made the assumption that economic indicators affect logistics cost. Chapter 2 examines the current status of the liner market and factors affecting logistics costs. Based on this, Chapter 3 collects independent and dependent variables to determine the analysis model. As the independent variable, economic indicators of major countries constituting the SCFI were selected, and the dependent variables were the SCFI Europe Index and the SCFI USA Index. In Chapter 4, a panel analysis was conducted based on this, and it was confirmed that major economic indicators had a negative (-) effect on SCFI. This is contrary to the existing research results, which can be attributed to the special situation caused by COVID-19 and the imbalance of demand and supply by region. The results of this study are meaningful in that they can predict long-term logistics cost volatility without analyzing supply and demand, and can be applied to other studies as well.

Keywords

Acknowledgement

This research was supported by the 4th Educational Training Program for the Shipping, Port and Logistics from the Ministry of Oceans and Fisheries.

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