The Impact of Steel Price on Ship Demolition Prices: Evidence from Heterogeneous Panel of Developing Countries

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Tunç M., Açık A.

SOSYOEKONOMI, cilt.27, sa.42, ss.227-240, 2019 (ESCI) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 27 Sayı: 42
  • Basım Tarihi: 2019
  • Doi Numarası: 10.17233/sosyoekonomi.2019.04.12
  • Dergi Adı: SOSYOEKONOMI
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.227-240
  • Anahtar Kelimeler: Steel Price, Demolition Price, Bootstrap Panel Causality, Developing Countries, FINANCIAL DEVELOPMENT, ECONOMIC-GROWTH, ENERGY-CONSUMPTION, MARKET, EU
  • Dokuz Eylül Üniversitesi Adresli: Evet

Özet

In this study, the causal relationship between global steel prices and demolition prices in five developing countries (Bangladesh, China, India, Pakistan, and Turkey) that host five main ship scrap centers in the world are examined. The bootstrap panel Granger causality analysis is employed to take heterogeneity and cross-sectional dependence into account. The data set used in this study consists of 289 weekly observations from January 8, 2013 to July 16, 2018. As a result of the study, a collective causality relationship from steel price to demolition prices is determined and individual causality relationships for all countries except Bangladesh are identified.