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Comparative Analysis of Export Behaviors of Pyeongtaek-Dangjin Port and Daesan Port  

Mo, Soowon (목포대학교 경영대학)
Publication Information
Journal of Korea Port Economic Association / v.29, no.3, 2013 , pp. 25-37 More about this Journal
Abstract
This study investigates the export behavior of port of Pyeongtaek-Dangjin and Daesan. The monthly data cover the period from January 2002 to December 2012. This paper tests whether the exchange rate and the industrial production are stationary or not, rejecting the null hypothesis of a unit root in each of the level variables and of a unit root for the residuals from the cointegration at the 5 percent significance level. The error-correction model is estimated to find that Daesan port is faster than Pyeongtaek-Dangjin in adjusting the short-run disequilibrium. This paper finds that the exchange rate coefficient of Daesan port is higher than that of Pyeongtaek-Dangjin port, while the industrial production coefficient of the former is much smaller than that of the latter. The industrial production coefficient is, however, much higher than the exchange rate coefficient in both ports. The rolling regression shows that the influence of exchange rate and industrial production tends to increase in Pyeongtaek-Dangjin port but tends to decrease in Daesan. The impulse response functions indicate that export volumes respond much greater to the positive shocks in industrial production than in exchange rate, and the exchange rate shock decays very fast, while the industrial production shock lasts very long.
Keywords
Pyeongtaek-Dangjin; Daesan; Export Volume; Impulse-response;
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Times Cited By KSCI : 4  (Citation Analysis)
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