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논문 기본 정보

자료유형
학술저널
저자정보
Jong-Ho Sim (Seoul National University of Science & Technology) Chang-Dae Park (Korea Institute of S&T Evaluation and Planning) Jung-Gu Parka (Seoul National University of Science & Technology)
저널정보
한국에너지학회 에너지공학 에너지 공학 제30권 제4호 (통권 제108호)
발행연도
2021.12
수록면
26 - 37 (12page)
DOI
10.5855/ENERGY.2021.30.4.026

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초록· 키워드

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This papr examines the causal relationships between GDP, exports, imports, and jet fuel consumption in Korea, using Vector Error Correction Modeling (VECM) during 1980-2019. This study shows that these four variables have exhibited co-integration, showing that these variables have achieved short-run, long-run and joint causalities, except for exports-imports relation. This indicates that exports and imports have led the economic growth in the long-run and jointly, and that economic growth has given to more jet fuel consumption in the long-run and joint relationship, bi-directionally, but the former has affected the latter in the short-run, while not in other direction. It also shows that exports and imports have led jet fuel consumption in long-run and jointly. Jet fuel consumption has continued to play an important role in exports and imports for economic growth. Therefore, policy makers should be aware of the necessity of stable jet fuel supply in order to achieve sustainable economic growth and they must provide policy support to refining companies so that these companies can supply jet fuel continuously and efficiently.

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Abstract
1. Introduction
2. Literature Review
3. Data and Methodology
4. Results
5. Conclusion and policy implications
References

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