• The Journal of the Convergence on Culture Technology
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• v.5 no.2
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• pp.183-188
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• 2019

This study analyzed the effects of short-term interest rates, exchange rates and international oil prices on international grain prices using the EGARCH-GED model. The yield before one month of the international grain prices itself was found to have a significant effect on international grain prices for most periods. During the entire analysis period, none of the economic variables appeared to have a significant effect on international grain prices, whereas during the exchange fall period, only oil prices were shown to have a significant effect on international grain prices. In addition, during the pre-crisis period, interest rates, exchange rates and oil prices did not all have a significant effect, but during the post-crisis period only oil prices had a significant effect on international grain prices. It turns out that the factors affecting international grain prices are changing with the passage of time.

• Environmental and Resource Economics Review
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• v.21 no.1
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• pp.69-92
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• 2012

This paper analyzed price asymmetry of domestic petroleum products by distribution stage. Analyzing the asymmetry by distribution stage, we can investigate the gap between analysis results and consumers' perception. For the first stage, we analyzed asymmetries between retail prices including tax and the spot prices of crude oil. The results show that retail price increases more quickly in response to the crude oil prices rise than to the crude oil prices fall as consumers' perception. For the second stage, we analyzed asymmetry of international petroleum product prices in Korean Won with the change in the crude oil spot prices. The results show that international petroleum product prices increase higher in response to the crude oil prices increase than to the crude oil prices decrease. For the final stage, we examined the asymmetry of wholesale price and retail price with the change in the international petroleum product prices in Korean Won. The results show that wholesale prices increase more quickly in response to the crude oil prices rise than to the international petroleum product prices fall. The retail prices, however, decrease more quickly in response to the crude oil prices fall than to the international petroleum product prices rise.

• Proceedings of the KSR Conference
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• 2008.11b
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• pp.782-788
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• 2008

Present Prices have reduced to $100 per barrel, but international oil prices caused big damage to local logistics industry due to rise in International oil prices and, in august 2008 oil prices reached up to 146 US. Depending on oil prices, the domestic logistic industry should develop a strategy by innovative management of purchase of supply for manufacturing industry and efficient supply and demand of resources which is believed to be more important. Accordingly, we want to analyze railroad logistics' present condition and effect on railroad industry that can expect affirmative development by oil-price rise and by developing strategies for efficient railroad logistics.

• The Journal of Fisheries Business Administration
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• v.32 no.1
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• pp.15-39
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• 2001

The study, using the input-output analysis of 402 industrial sectors by Bank of Korea(BOK) and the resulting outcomes of price model, aims to evaluate the spillover effects the international fluctuations in crude oil prices have on the commodities prices and consequently, analyse the management and profitability of the offshore fisheries in Korea. At present, the fisher men are provided with tax-free oils for their fishing operations as specified under the Special Tax Treatment Control Law. However, the exhaustion of marine resources and new international fisheries agreements, which resulted in the loss of fishing grounds, made the stable catch even more unpredictable and the hike in the price of the international crude oil would have adverse effects on the fishing industry. The study revealed that the increasing rise in the price of crude oil would exert sweeping spillover effects on other industry sectors in general and accordingly, lead to a poorer performance by fisheries. The price spillover coefficients for the diesel oil was 0.6026, which would translate into the 42.6% increase in the prices of oil when the increase ratio of 73.3% for the base crude oil was applied based on the calculation methods employed in the study. This in turn increased the ratio of diesel oil required in the offshore fisheries from 23.3% to 16.6%, diminishing the ratio of current net profits to minus 2.0% from 4.2% otherwise. By fishing type, the Pair Trawl suffered current net profits loss most by ratio of minus 9.4% and other fisheries such as Coastal Stow Nets, Coastal Angling, Danish Sein also suffered ratio of 7% and more in the loss of current net profits. With the deteriorating fishing performance, coupled with the increasing international crude oil prices, it is urgently required that the authorities concerned deliberate in depth on such schemes as follows in efforts to secure stable fishing production. First, provision of large-scale storage facilities for oil is needed to timely adapt to the fluctuations in international crude oil prices. Secondly, in line with the stabilization of tax-free oil prices, duty levied on oils for fishing and tax collected from the refineries need to be tax-exempt. Thirdly, the beneficiaries from the provision of tax-free oil should be broadened, not limited to special fishing operation only. Fourth, investment in stabilization of the oil prices should be encouraged, possibly through funding from the formation of fisheries development funds underway.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.201-208
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• 2020

Terms of trade is an important indicator of the welfare gains from international trade to the exporting country. Terms of trade of oil-exporting countries are hypothesized to depend primarily on oil prices. The study assesses the relation between oil prices and the terms of trade of Saudi Arabia. The study uses the Autoregressive Distributed Lag method to determine the cointegration between the country's terms of trade and oil prices for the period 2000-2018. The data for net barter terms of trade is taken from World Development Indicators and oil price is taken from Saudi Arabian Monetary Agency. The results show that oil prices and terms of trade are cointegrated and any disequilibrium between the two variables is corrected by 35% in a year. The study also reports a positive relationship between the two items, both in the short run and long run. Diagnostic tests indicate the model to be fit. The results suggest that, for a primarily oil-producing country like Saudi Arabia, the terms of trade depend on oil prices. The study fills the gap in the literature on the study of terms of trade for Saudi Arabia for the last few years, where there has been a high volatility in oil prices.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.123-129
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• 2020

This scholarly work is an effort to capture the effects of oil prices on the actual exchange rate between dollar and rupee. This is done with reference to the U.S. dollar as oil prices are marked in USD (U.S. Dollar) in the international market, and India is among the top five importers of oil. Using monthly data from January 2001 to May 2020. The study used the real GDP, money supply, short-term interest rate difference between two countries, and inflation apart from the crude oil prices per barrel as the factors that help define the exchange rate. The analysis, through cointegration and vector error correction method (VECM), suggests long and short-run causality amid prices of oil and the rate of exchange fluctuations. Oil prices are found to be negatively related to the exchange rate in the long term but positively related in the short term. The result of the Wald test also indicates the short-run causation from the short-term interest rate and the prices of crude oil towards the exchange rate. The present study shows that oil prices are evidence of the existence of short-term and long-term driving associations with short-term interest rates and exchange rates.

• The Journal of Fisheries Business Administration
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• v.43 no.1
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• pp.49-61
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• 2012

The tax exemption oil for fishery is expecting that the use of oil is gradually decreasing according to the environmental change such as reductions of vessel force caused by an upswing of oil prices and reduction of fishing vessels in the recent. Such reductions in the tax exemption oil amount have a negative effect on the tax exemption oil business and the fishery infrastructure. This paper studied to provide the basic data for a stable supply thorough the facts affected in the use of the tax exemption oil and the prediction for the use of the tax exemption oil in future. This analysis drew a estimation method by Cochrane-Orcutt repeated proceeding model with an object main factors such as a price of tax exemption oil and vessel force and international oil prices and exchange rates. And this analysis also drew the use of a tax exemption oil by 2000 after set up the scenario using an estimation method drawn. For the use of the estimated tax exemption oil analyzed to decrease within about 81 percent of the present(2020), It should be considering a stability plan for tax exemption oil for fishery in future.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2012.05a
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• pp.319-320
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• 2012

International oil prices is the world's leading macroeconomic indicators. Rising international oil price has been worsening. profitability of construction company including material cost as well stagnation in housing market. Thus, according to fluctuations in international oil prices has cost index need to see any change happening there. in this study, 2000 to 2011 interest rates, exchange rates and oil price fluctuations in construction cost is to compare the impact.

• Korea Trade Review
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• v.43 no.2
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• pp.69-86
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• 2018

The paper studies the degree of international price dispersion for 300 individual goods and services between cities of three country groups over 1999 and 2013, focusing on the role of oil prices in generating deviations from the law of one price. We find that while oil prices did not contribute to the trend in cross-country price dispersion, it does account for within-country price dispersion. Once the oil price effect is subtracted out, the remaining price dispersion between U.S. cities no longer exhibits a noticeable upward trend. If oil prices increase transportation costs, they should increase the deviations from the law of one price, raising price dispersion. Our findings indicate that this effect is more pronounced within a country, while factors such as elasticity of substitution and other trade barriers are likely to matter more in price dispersion across borders. We view our results as complementary to those that emphasize the role of time-varying factors in accounting for price dispersion.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.601-611
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• 2021

There are many asset prices which are interlinked and have a bearing on the stock market index. Studies have shown that the interrelationship among these asset prices vary and are inconsistent. The ultimate aim of this study is to examine the dynamic relationship between gold price, oil price, exchange rate and stock index. Monthly time series data has been utilized by the researcher to examine the interrelationship between four variables. The relationship among stock exchange rate index, oil price and gold price have been undertaken using regression and granger causality test. The results indicate that the exchange rate and oil price have an indirect influence on NIFTY; whereas gold price had a direct impact on NIFTY. It is evident from the results that volatility in the price of gold is mainly dependent on the exchange rate and vice versa. All the variables affect NIFTY in some way or the other. However, gold has a direct and vital relationship. From the study findings, it can be concluded that macroeconomic variables like commodity prices and foreign exchange rate, gold and oil, have a strong relationship on the return on securities at the national stock exchange of India.