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REFERENCE LINKING PLATFORM OF KOREA S&T JOURNALS
> Journal Vol & Issue
Environmental and Resource Economics Review
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Journal DOI :
Korean Resource Economics Association
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Volume & Issues
Volume 22, Issue 4 - Dec 2013
Volume 22, Issue 3 - Sep 2013
Volume 22, Issue 2 - Jun 2013
Volume 22, Issue 1 - Mar 2013
Selecting the target year
Forecasting Market Shares of Environment-Friendly Vehicles under Different Market Scenarios
Bae, Jeong Hwan ; Jung, Heayoung ;
Environmental and Resource Economics Review, volume 22, issue 1, 2013, Pages 3~29
DOI : 10.15266/KEREA.2013.22.1.003
The purpose of this study is to estimate consumer preferences on hybrid cars and electric cars by employing a choice experiment reflecting the various market conditions, such as different projected market shares of green vehicles and
emission regulations. Depending on different market scenarios, we examine as to which attribute and individual characteristic affect the preferences of potential consumers on green vehicles and further, forecast the potential market shares of green cars. The primary results, estimated by a conditional logit and panel probit models, indicate that sales price, fuel cost, maximum speed, emission of air pollutants, fuel economy, and distance between fuel stations can significantly affect consumer's choice of environment-friendly cars. The second finding is that the unique features of electric cars might better appeal to consumers as the market conditions for electric cars are improved. Third, education, age, and gender can significantly affect individual preferences. Finally, as the market conditions become more favorable toward green cars, the forecasted market shares of hybrid and electric vehicles will increase up to 67% and 14%.
The Calculation of Carbon Footprint Embodied in International Trade: A Multi-Regional Input-Output Analysis
Shin, Dong Cheon ;
Environmental and Resource Economics Review, volume 22, issue 1, 2013, Pages 31~52
DOI : 10.15266/KEREA.2013.22.1.031
The recent analyses of carbon emissions embodied in international trade are related with discussions on who is responsible for the carbon emissions causing global warming. Some authors insist that the countries importing carbon-intensive goods should share the responsibility with the suppliers of those goods. In order to determine which countries are net importers of carbon dioxide embodied in traded goods, we need to construct the multi-regional input-output (MRIO) model incorporating national input-output tables and data on bilateral trades. The paper calculates consumption-based as well as production-based inventories by using MRIO model whose global database is GTAP version 8 to get the picture of carbon footprints in international trades of Korea and other regions in the world.
The Analysis on the Relationship between R&D Productivity of Renewable Energy and Emission Trading Scheme; Using OECD Patent Data
Kim, Suyi ;
Environmental and Resource Economics Review, volume 22, issue 1, 2013, Pages 53~76
DOI : 10.15266/KEREA.2013.22.1.053
This paper analyzed on the relationship between R&D productivity of renewable energy and the Emissions Trading Scheme using OECD's country-specific patents and R & D input data. We empirically tested whether this R & D productivity has been substantially improved before and after the implementation of the emissions trading scheme and whether emission trading scheme has been promoted technology progress of renewable energy. Analytical methods used in this study, Negative Binomial Models which was proposed by Hausman et al. (1984). According to the results of this analysis, the R & D productivity of renewable energy was improved by emissions trading scheme, which was statistically significant at the 99% confidence interval [CI]. The R&D productivity of renewable energy was higher in Annex I countries. This research is significant in that R&D productivity was analyzed in associated with the emission trading scheme rather than it was analyzed by simply comparing R&D productivity.
Estimation of the Shadow Price of Carbon Dioxide Emissions, the Potential Reduction, and Substitution Possibility for fuels in the Chinese Fossil-fueled Power Generation Sector
Jin, Yingmei ; Lee, Myunghun ;
Environmental and Resource Economics Review, volume 22, issue 1, 2013, Pages 77~98
DOI : 10.15266/KEREA.2013.22.1.077
China, the world's largest
producer, is likely to be obligated to reduce greenhouse gas emissions under the post-Kyoto protocol. This paper estimates a Shephard input distance function for the Chinese fossil-fueled power generation sector to measure the shadow price of
emissions, technical efficiency, and indirect Morishima elasticities of substitution between inputs. Empirical results show that, on average, it costs approximately 3.2 US dollars per year to reduce
emissions by one ton over the period 1981-2009. This finding indicates that Chinese power sector is expected to benefit from selling emission permits to other countries such as Korea and Japan, given that our estimate for China is lower than the ones previous literatures estimated for the power sector in these countries. The maximum attainable average
reduction potential amounts to approximately 25 million tons per year by improving technical efficiency. Capital is substitutable with both coal and oil and capital is relatively more readily substituted for these fuels.
An Analysis of Time Varying Beta Risk in Domestic Renewable Energy Company
Lee, UiJae ; Heo, Eunnyeong ;
Environmental and Resource Economics Review, volume 22, issue 1, 2013, Pages 99~125
DOI : 10.15266/KEREA.2013.22.1.099
Renewable energy industry not only has a promising future but also has more risk than conventional energy industry because of its characteristics. Therefore, in this study, an analysis of domestic renewable energy company risk has been performed. The risk of domestic wind and photovoltaic energy companies has been analyzed by using time varying beta model. The model has been constructed based on risk factors like firm size, firm diversification index, domestic installation, and so on. The principal result of analysis can be summarized as follows. First, risk factors affect domestic renewable energy companies have been discovered. Variables like firm size, growth rate of debt ratio, firm diversification index are statistically significant. I found that large firms are less riskier than small firms. It is also confirmed that companies with high diversification index and high debt ratio have high risk. Second, I got the result that policy factors like domestic renewable energy installation and government R&D expenditure could decrease risk of domestic renewable energy company. Third, relative sensitivity of each risk factor have been discovered. The effect of each variable gets bigger in this order: growth rate of domestic installation, firm size or diversification index, growth rate of debt ratio, growth rate of government R&D expenditure.
Economic Impacts of Sea-level Rise and Optimal Protection on Jeju Island
Min, Dongki ; Cho, Kwangwoo ;
Environmental and Resource Economics Review, volume 22, issue 1, 2013, Pages 127~145
DOI : 10.15266/KEREA.2013.22.1.127
This study estimates the economic impact of sea-level rise on Jeju island and suggests the optimal protection level based on the FUND model. There exist a number of studies that estimate the impacts of sea-level rise on global scale, but their results are of limited use for local scale such as Korea. Therefore, this study applies some specific indicators and data of Korea into to FUND model for deriving site specific estimates. The results show that 2.01%~2.25% of land could be inundated by sea-level rise until 2100. The value of affected land is about 6.4%~7.2% of total land value. The discrepancy between the figures indicates that the area affected by sea-level rise is much more valuable than the rest of Jeju island. The optimal protection level in Jeju city is higher than that in Seguipo city, even though the coastal length of Jeju city is longer than that of Seguipo. This is due to the fact that the economic value of Jeju city is much higher than that of Seoguipo city.
Measuring Economic Values of Natural Resources using Extent of Market based on Potential User Groups: Cases of 4 Provincial Parks in Chon Buk
Eom, Young Sook ;
Environmental and Resource Economics Review, volume 22, issue 1, 2013, Pages 147~177
DOI : 10.15266/KEREA.2013.22.1.147
Annual total values and thereby assets values of natural resources are determined by sample household WTP estimates and the extent of market. In the current domestic practice of CVM, total numbers of national households were used as the target population to measure total economic values including non-use values. This study proposed an alternative method of calculating potential user groups based on distributions of residential area of visitors in the sample using 4 provincial parks in the Chon Buk area as cases. The sample mean of WTP of Moak Mt. visitors, who are mostly from the nearby Chon Buk provincial area, was estimated to be about 8,215 won. On the other hand, the mean of WTP of Sun Woon Mt., whose visitors are evenly distributed from all over the country, was about 4,693 won. When applied national households as the target population, annual total benefits and thereby asset values of Moak Mt. was high enough to be 86 billion and 1.6 trillion won respectively. However, those of Sun Woon Mt. was low to be 52 billion and 1 trillion. On the contrary, when applied potential user groups of each park as the extent of market, annual total benefits and asset values of Sun Woon Mt. was reversed to be high--23 billion won and 400 billion won respectively. However, those of Moak Mt. was lowered to be 10 billion won and 200 billion won. Furthermore, asset values of the same park were differed by 2 to 8 times according to the way of setting the extent of market.
Valuation of Han River Waterside Landscape with a Double-bound Dichotomous Choice Model and Policy Implications: Focused on the Exponential Willingness to Pay Model
Han, Taek-Whan ; Hong, Yiseok ; Park, Chang Sug ;
Environmental and Resource Economics Review, volume 22, issue 1, 2013, Pages 179~214
DOI : 10.15266/KEREA.2013.22.1.179
This paper estimated the value of waterside landscape and ecosystem of Han River basin with a double-bound dichotomous choice type of CVM. We used the exponential willingness to pay model to represent the nonnegative willingness to pay. This model is found to be especially important in analyzing a double-bound dichotomous choice model. The total willingness to pay was estimated as 705.5 billion won per annum. This suggests that current budget size for water quality and ecosystem conservation for Han River needs to be expanded.