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http://dx.doi.org/10.5855/ENERGY.2015.24.1.104

Using the Demand-driven Model-based Inter-industry Analysis to Examine the Economic Effects of Petroleum Refinery Sector  

Kim, Ho-Young (Department of Energy Policy, Graduate School of Energy & Environment, Seoul National University of Science & Technology)
Song, Tae-Ho (Department of Energy Policy, Graduate School of Energy & Environment, Seoul National University of Science & Technology)
Yoo, Seung-Hoon (Department of Energy Policy, Graduate School of Energy & Environment, Seoul National University of Science & Technology)
Publication Information
Journal of Energy Engineering / v.24, no.1, 2015 , pp. 104-113 More about this Journal
Abstract
This study tried to conduct a comparative analysis on the yearly economic effects of petroleum products sector. Inter-industry tables published 1990~2012 are used in this study. Especially petroleum products sector is specified as exogenous to identify the economic effects on own and other sectors. Production-inducing effect, value-added creation effect, and employment-inducing effect are quantified based on demand-driven model. The results of the analysis, the case of annual production inducing-effect, show the downward trend from 1993 to 2008. and It seemed to be constant from 2009 to 2012. The value-added inducing-effect, from 1990 to 1998, shows a rising trend. the since 1998, it was found to decline steadily. Employment-inducing effect is shown a steadily decreasing trend from 1990 to 2008, and has been kept constant from 2010 at the level under 1.300(person/one billion won). These results of in comparison with the past are significant in that it can be objectively evaluate the domestic oil industry at the present time. and it can be usefully utilized to predict the economic effect of future oil industry.
Keywords
petroleum reinery sector; inter-industry analysis; demand-driven model; exogenous specification;
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