• Journal of Global Scholars of Marketing Science
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• v.17 no.3
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• pp.133-151
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• 2007

The purpose of this article is to examine the effects of item parceling on the consistency of significance testing of the causal parameters with regard to the relationship between the relevant constructs, as well as the effects of the item parceling on the goodness-of-fit indices of LISREL's general models. Most of the researchers' major purpose of using structural equation modeling (SEM) is to test their research hypotheses associated with the causal parameters. Therefore, we investigated three general models of LISREL, rather than the frequently used confirmatory factor analytic (CFA) models by many other researchers. The results of the study showed that there was a high level of consistency in the calculated test statics of causal parameters between the item-parceled solutions and the item-level solutions, and that the item-parceled solutions had better goodness-of-fit indices, such as GFI, AGFI, CFI, and NFI, than the solutions at the item level. However, in terms of RMSEA, there was no such tendency.

• KEPCO Journal on Electric Power and Energy
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• v.3 no.1
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• pp.65-72
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• 2017

This study analyzed causal relationship between electricity consumption and economic output (GDP) for Korea from 2001 to 2014 employing the vector error-correction model estimation by manufacturing sector. The results of unit-roots tests show that all sectoral GDP and electricity consumptions were not stationary. And cointegration tests show that processed foods, Wood Pulp Paper, electricity apparatus, Precision Medical sectors had a linear combinations in the long run between electricity consumptions and economic growth. With respect to the direction of causality, manufacturing sector has a uni-directional running from economic output (GDP) to electricity consumption in short term. The results of study show that sectoral causal relation were different each other in short term and long term. These findings imply that electricity demand management policy focusing on efficiency improvement is necessary to minimize negative impacts on economic growth and to adopt suitable structural policies can induce energy conservation.

• Environmental and Resource Economics Review
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• v.14 no.3
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• pp.569-593
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• 2005

This study tests for the law of one price and Grander Causality between the EU ETS and Nord Pool $CO_2$ allowance prices. The Johansen cointegration test shows that there exists a long run equilibrium between EU ETS and Nord Pool prices and support the law of one price. The Granger casuality test suggests that the EU ETS leads Nord Pool for all vintages traded. The test results imply that the EU ETS can be regarded as the representative carbon market in the EU where many exchanges just started competing for the newly rising market for carbon.

• The Korean Journal of Financial Management
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• v.9 no.1
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• pp.207-222
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• 1992

본(本) 연구(硏究)는 주식시장의 변화가 경기변동에 대하여 갖는 선행성(先行性)의 유무(有無)와 선행기간(先行期間) 및 선행패턴을 검정하였다. 기존의 경기 정점(peak)과 저점(trough)에 따른 선행시차분석(先行時差分析)이나 주식시장과 경기변동간의 단순회귀모형에 의한 ${\beta}$계수 측정 방법과는 달리, 교차상관관계(交叉相關關係)에 의한 선행 결합여부를 검정하고 Granger 정의에 입각한 인과관계검정(因果關係檢定)을 시도하였다. 1975년부터 1991년까지의 월별자료를 이용하여 교차상관계수(交叉相關係數)에 의한 Ljung-Box Q-통계량 검정을 실시한 결과 주식수익률과 경기동행지수 순환변동치는 선행결합(先行結合)하고 있음을 알 수 있었으며, t-7기의 주식수익률과 t기의 경기동행지수 순환변동치간의 계수가 가장 크게 나타났다. 또한 주식수익률의 lead 1에서 3기까지 보다는 lead 4기 이후에 크게 나타났으며 업종별(業種別)로는 제조업(製造業) 관련분야에서 유의적으로 나타났다. Granger 정의에 의한 인과관계(因果關係) 검정(檢定)을 실시한 결과, 12개월 내지 9개월 전부터 1개월 전까지의 주식수익률을 이용하는 것이 경기동행지수 순환변동치의 과거 정보만을 이용하는 것보다 예측오차를 줄일 수 있는 것으로 나타나 주식수익률이 경기동행지수 순환변동치의 원인변수라 할 수 있을 것이다. 업종별(業種別) Granger 검정결과는 교차상관계수(交叉相關係數)에 의한 Ljung-Box Q-통계량 검정결과와 유사하게 나타났는데 이는 검정결과의 신뢰성을 높여주었다.

• Journal of Technology Innovation
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• v.24 no.2
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• pp.91-113
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• 2016

The purpose of this study is to examine the causal relationship among R&D spending and variables of technology trade, and to explore promoting R&D activities and revitalizing technology trade. To analyze the causal relationship, we built a multivariate model that consists of government R&D spending, private R&D spending, technical importation and export of techniques, and employed the Granger-causality test based on an error correction model. The results show that there are five Granger-causality relationship among them in the short run, as well as there are eleven Granger-causality relationship among a total of twelve causal relationship, excluding only a unidirectional causality relationship from the government R&D spending to the export of techniques, in the long run. Besides, we attempted the impulse-response analysis on them to observe the reaction of any dynamic system in response to some external change. The significance of this paper is to make sure the causal relationship between R&D investments and the technology trade by analyzing empirically, and to suggest several implications for promoting the R&D activities and revitalizing the technology trade.

• Journal of International Area Studies (JIAS)
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• v.22 no.1
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• pp.91-112
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• 2018

This study examined the dynamic relationship between urbanization and energy consumption in China. As an alternative to the conventional method of having the same integration of time series and large samples, ARDL method and Toda-Yamamoto causality analysis were applied. As a result, urbanization income, income, and energy consumption have a long-term stable equilibrium. Urbanization and income have a positive effect on energy consumption in the long run, but short-term changes of urbanization and income have no significant effect on energy consumption changes. The adjusted coefficient was -0.2395, which was statistically significant. In the causality test, income and energy consumption are useful to predict each other, but urbanization is exogenous because there are no causality with other variables. Since the process of urbanization in China has been proceeding slowly and deliberately by the government, it can be seen that the long-term effects of urbanization are clear and exogenous.

• Environmental and Resource Economics Review
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• v.21 no.3
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• pp.573-593
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• 2012

The paper examined the relationship between total and sector level electricity consumptions and economic growth in Korea for the period of 1980-2009. The results of unit-roots and cointegration tests show that all variables-real GDP, total, primary, manufacture, and service sector electricity consumptions-were not stationary and there were no linear combinations in the long run between electricity consumptions and economic growth. Thus, by using standard Granger-causality test we found that total, primary, and manufacture sector electricity consumptions were Granger-caused by economic growth, not vice versa. This means that causality runs from economic growth to each electricity consumption. However, there is no causal relationship between service sector electricity consumption and economic growth. These results imply that the government policies aimed at reducing electricity consumptions and increasing energy efficiency etc. can be feasible without deterring economic growth in Korea.

• Journal of Energy Engineering
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• v.29 no.1
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• pp.1-12
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• 2020

The rapid climate change is strengthening carbon emissions regulations internationally. Korea is strongly pressed to accept the obligation to reduce greenhouse gases as one of the United Nations Framework Convention on Climate Change. This article analyzed the Granger causalities among environmental regulation, economic growth, electricity consumption, and CO₂ emission in Korea, using unit root test, cointegration test, and vector error correction model. As the results, environmental regulation has shown the bidirectional causalities with electricity consumption and CO₂ emission, while being unilaterally affected by economic growth in the long-run and strong relationship. Economic growth has affected electricity consumption, CO2 emission, and environmental regulation in the long-run, in the complex structure of the unilateral and short-run causality with electricity consumption and the bidirectional causality with CO2 emission. The policy implications will be as follows: ① environmental regulation should induce sustainable growth through encouraging technological innovation relating to CO2 reduction and productivity enhancement. ② Responding to the international CO2 reduction regulation, the synthetic policy initiatives will be considered to make synergy effects among policies relating to economic growth, electricity consumption.

• Journal of Korea Society of Industrial Information Systems
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• v.18 no.4
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• pp.61-72
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• 2013

The relationship between export growth and economic growth in developing countries has been one of the main issues in the growth theory field. Many of empirical studies have been done during the last three decades in order to investigate the export-led growth hypothesis using either time-series or cross-sectional data mainly in developing countries. This paper applies cointegration and error correction models to test causal relationship between export growth and economic growth in the Korean 8 manufacturing industries using the industrial time-series quarterly data over 1975-2010. The export-output relationship is tested by including industrial capital stock and the industrial labor force as exogenous variables. The cointegration and error-correction modelling technique with industrial export and output data have showed the strong evidence that there is a bi-directional causality between industrial export and industrial output in 6 manufacturing industries except wood & pulp and nonmetallic industries.

• Journal of Korea Port Economic Association
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• v.31 no.2
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• pp.55-67
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• 2015

This study analyzes the relationship between shipping profit and market return in the tramp trade from January 2000 to October 2014. First, we carry out the causality test and find a causal relationship between the studied variables. Second, the estimates from the Johansen cointegration test show that shipping profit is cointegrated with market return, which implies that a long-run relationship exists among the variables. The empirical results thus imply that shipping firms need diverse risk management strategies.