The Relationships of the Baltic Dry Index、Economic Indicators and Asian Steel Prices – An Empirical Study of Asian Countries

• Main Authors: Chun-Yu Chang Chien, 張簡群祐
• Other Authors: Chien-Hui Lee
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/8xs62e

碩士 === 國立高雄應用科技大學 === 國際企業系碩士在職專班 === 102 === The purpose of this paper is to analyze whether the Asian steel prices are influenced by the Asian economy indicators and Baltic Dry Index from April 2005 to December 2013. Therefore, the economic indicators, the import & export amount, industrial production index for China, India, Japan, Korea, Taiwan, and the BDI as well as Asian steel price indicator were employed for further analysis. It indicates that there is a long-run equilibrium among the economic indicators of each country, the BDI and Asian steel prices. Granger causality test was also applied to explore the relation between Asian steel price and BDI, and the finding shows that they have significant effects on each other. In China, it shows that the Asian steel prices affect exports. In India, it proves that the Asian steel prices affect exports while the Asian steel prices affect imports on each other. In Japan, it shows the Asian steel prices affect imports and exports as well as the industrial production index. In Korea, it is discovered that the Asian steel prices affect exports and the industrial production index while the Asian steel prices affect imports on each other. In Taiwan, it shows that the Asian steel prices affect exports and the industrial production index, however, the Asian steel prices affect imports on each other. As for the impact responses analysis, the Asian steel prices will be raised right after the BDI goes up. For five Asian countries, exports have a significant positive effect on the Asian steel prices. The most significant effect on imports is detected in Korea. For industrial production index, the results all show positive except for Japan, industrial production index has an significantly positive impact on Asian steel prices index for four countries.