The role of transportation sectors in the Korean national economy: An input-output analysis |
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| Institution: | 1. Port Research Division, Korea Maritime Institute, 26, Haeyang-Ro 301Beon-Gil, Yeongdo-Gu, Busan 49111, South Korea;2. Graduate School of Energy & Environment, Seoul National University of Science & Technology, 232 Gongreung-Ro, Nowon-Gu, Seoul 01811, South Korea;1. Department of Civil Engineering, University of Asia Pacific, Dhaka 1215, Bangladesh;2. Department of Civil Engineering, Bangladesh University of Engineering and Technology, Dhaka 1000, Bangladesh;1. College of Economics and Business Administration, Chongqing University, Chongqing 400030, China;2. College of Management, Chongqing University of Technology, Chongqing 400054, China;3. School of Civil and Environmental Engineering, Cornell University, Ithaca, NY 14853, USA;4. Shanghai Oriental Scholar, Sino-US Global Logistics Institute, Antai College of Economics and Management, Shanghai Jiaotong University, Shanghai, 200030, PR China;1. School of Management, China Institute for Studies in Energy Policy, Collaborative Innovation Center for Energy Economics and Energy Policy, Xiamen University, Fujian, 361005, China;2. Belt and Road Research Institute, Xiamen University, Fujian, 361005, China;1. Centre for Industrial and Applied Mathematics, Mawson Lakes Campus, University of South Australia, Mawson Lakes Boulevard, Mawson Lakes, SA 5095, Australia;2. Department of Geography, Faculty of Social Sciences, The University of Sheffield, UK;3. College of Liberal Arts, Pennsylvania State University, United States |
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| Abstract: | The transportation industry has been playing an important role in the economic development of Korea and, thus, has become a critical factor in sustaining the well-being of the Korean people. This paper attempts to analyze the economic impacts of four transportation modes using input-output (I-O) analysis, with specific application to Korea. To this end, we apply the I-O models to the Korean I-O tables generated by the Bank of Korea, paying particular attention to the four transportation sectors in Korea (rail, road, water, and air transportations), considering them as exogenous, and then determining their impacts. Specifically, the production-inducing effects, supply shortage effects, sectoral price effects, forward linkage effects, and backward linkage effects of the four transportation modes are quantitatively derived over the period 2000–2010. For example, the production-inducing effect of a KRW 1.0 production or investment in transportation is larger in the petroleum and transportation equipment sectors than in other sectors. Furthermore, the rail and road transportation sectors have greater supply shortage effects than the other transportation sectors. Finally, the potential uses of the results of this analysis are presented from the perspective of policy instruments, and policy implications are discussed. |
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| Keywords: | Input-output analysis Exogenous specification Transportation sector Korea |
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