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REFERENCE LINKING PLATFORM OF KOREA S&T JOURNALS
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Environmental and Resource Economics Review
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Journal DOI :
Korean Resource Economics Association
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Volume & Issues
Volume 23, Issue 4 - Dec 2014
Volume 23, Issue 3 - Sep 2014
Volume 23, Issue 2 - Jun 2014
Volume 23, Issue 1 - Mar 2014
Selecting the target year
A study of the economic effects of weather and climate information on marine logistics
Lho, Sangwhan ; Lim, Dongsoon ;
Environmental and Resource Economics Review, volume 23, issue 1, 2014, Pages 1~19
DOI : 10.15266/KEREA.2014.23.1.001
Weather seems to influence industries in a variety of ways. On a day-to-day basis, it is the most volatile external factor influencing consumer and market behavior. And, because weather is constantly changing, industries must deal with a continuously shifting array of opportunities and risks. This study aims to examine how climate and weather changes and information, as external environmental factors, have affected the Korean industries, particularly marine shipping and logistics. To find out the economic value of marine weather information, we use measurable results of VVOS(Vessel and Voyage Optimization Services) in the ocean shipping, which the marine weather software tool can save fuel costs up to 4%. When the fuel saving is same as VVOS`s performance, the saving of Korean flag ship is estimated about 62 billion won and the saving of total flag ship is estimated about 519 billion won. However, coastal shipping companies have been struggling with the heavy weather factors, such as wave height, wave period and wind. Major findings are that wind and wave height have a significant negative effect on cargo transport, while wave period has a significant positive effect on cargo transport. And to conclude, when we use efficiently the marine weather information, we can increase cargo transport and save fuel costs etc.
Economic Damage of Sea-level Rise and The Optimal Rate of Coastal Protection in the Korean Eastern Southern Areas
Min, Dongki ; Cho, Kwangwoo ;
Environmental and Resource Economics Review, volume 23, issue 1, 2014, Pages 21~42
DOI : 10.15266/KEREA.2014.23.1.021
In this study, we are estimating the economic effects of the rising sea level due to the climate change in the Korean Eastern and Southern coastal areas. Using disaggregated regional data, we also estimate the optimal rate of coastal protection. We use FUND (The Climate Framework for Uncertainty, Negotiation and Distribution) in order to obtain estimates of the expected inundation ratios by geographical district. Our estimates suggest that in Busan the ratio of inundated land to total territory will likely constitute 3.19% by 2100, while the number in Gangwon-do province is estimated to be lower at only 0.1%. We estimate the associated economic damage to differ by geographical district with the economically active regions such as e.g. Busan and Ulsan cities, or the Gyeongsang-nam-do province, likely to sustain relatively more damage. In Busan and Ulsan where the coastal line is relatively short and the size of expected economic damage is rather high, we estimate the optimal rate of coastal protection to be at the level of 98% and 92%, respectively. In the Kyeongsang-nam-do area that is also likely to suffer a substantial economic damage due to the inundation, we suggest the optimal ratio of coastal protection to be set at the level of 78%~79%. In contrast, in the Kangwon-do province where the expected economic damage is estimated to be low, the optimal rate of coastal protection is estimated to be around 43%, depending on the scenario.
An analysis on the effects of higher power rates on supply price and power savings for Korean manufacturing sector
Lee, Myunghun ;
Environmental and Resource Economics Review, volume 23, issue 1, 2014, Pages 43~65
DOI : 10.15266/KEREA.2014.23.1.043
In this paper, we test for allocative efficiency of productive inputs including electricity and measure the divergence between the actual and optimal level of electricity for the chemical products, which is a relatively highly electricity-intensive sector in Korean manufacturing industries, by estimating a shadow cost function. Supposing cost minimization subject to market prices was achieved, we derive the price elasticities of demand for each input and simulate the impact of a 10% increase in power rate on its demand and supply price by estimating jointly a cost function with an inverse supply relation. The null hypothesis of allocative efficiency of inputs is rejected over the period 1982-2006. On average, electricity is used more than optimal level by 98% per year. The demand for electricity decreases by 11.4%, and supply price, on average, falls by 0.08%, other things being equal.
Is the technology in renewable energy converging among countries? : Using the patent data of OECD
Oh, Keunyeob ; Yoo, Jinman ;
Environmental and Resource Economics Review, volume 23, issue 1, 2014, Pages 67~89
DOI : 10.15266/KEREA.2014.23.1.067
This paper uses patent data of OECD countries in order to investigate if there is converging tendency in renewable energy area. We used the concepts of sigma convergence and beta convergence to measure the convergence. GINI coefficient, HH index are also borrowed from other area of economics. The results show that technology level does not seem to have been converging in this area. Even though the number of patent in relatively less advanced countries has been increased a lot, we could find no evidence that there is the tendency that the gap among the countries have been narrowed. This is quite different from the results of IT industry or other industry since we could find the converging tendency in the data of those industries. Instead, it seems that there is the convergence club among most advance countries in renewable energy area.
Effect of ICT Capital on the Demands for Labor and Energy in Major Industries of Korea, US, and UK
Kim, Jihyo ; Heo, Eunnyeong ;
Environmental and Resource Economics Review, volume 23, issue 1, 2014, Pages 91~132
DOI : 10.15266/KEREA.2014.23.1.091
We investigate the effect of ICT capital on the demands for labor and energy in manufacturing and electricity gas water industries of Korea, US, and UK. Assuming ICT capital, non-ICT capital, labor, electricity, fuel, and material as input factors for manufacturing and ICT capital, non-ICT capital, labor and energy material as input factors for electricity gas water industry, we estimate the Morishima elasticities of substitution. Considering the relative price changes of input factors, ICT capital has substituted labor in manufacturing and electricity water gas industries of the three countries. ICT capital has substituted both electricity and fuel in US and UK manufacturing. Although ICT capital has substituted electricity and fuel each other in Korean manufacturing, ICT capital is unlikely to decrease the demands for electricity and fuel when considering their relative price changes. ICT capital has substituted energy material in electricity gas water industries of the three countries.
Estimation of Economic Effects on Overseas Oil and Gas E&P by Macroeconomic Model of Korea
Kim, Ji-Whan ; Chung, Woo Jin ; Kim, Yoon Kyung ;
Environmental and Resource Economics Review, volume 23, issue 1, 2014, Pages 133~156
DOI : 10.15266/KEREA.2014.23.1.133
In general, quantity results of empirical analysis using model shows how much big performance policy has. Therefore this is useful to evaluate a policy. This paper composed macro economic model based on Bank of Korea`s quarterly model and annual model, that estimates performance of overseas oil and gas development project to Korean economy in aspect of quantity. In this model, we estimated each effect in real GDP, current account, unemployment rate, CPI and exchange rate carried by recovered amount from overseas oil and gas development project. The recovered amount was evaluated in currency coming from oil and gas acquired from overseas oil and gas development project. Macro economic model of this paper benchmarked macro model composed by Bank of Korea(1997, 2004, 2012). We reviewed model robustness using statistical suitability of each equation and historical simulation for from 1994 to 2011. The recovered amount of overseas oil and gas development project has positive effect in every macro economic index except CPI and exchange rate. Economic effect to macro economic index become bigger with time because the recovered amount of overseas oil and gas development project are increasing until now. Although empirical results of economic effects in every year from the recovered amount of overseas oil and gas development project are different, as of 2011, empirical results showed that the recovered amount of overseas oil and gas development project increase 2.226% and 0.401% in current account and real GDP respectively. And it also decrease 0.489%p in unemployment rate. Exchange rate to US dollars also decrease in amount of 0.379%.