• International Area Studies Review
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• v.14 no.3
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• pp.363-387
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• 2010

This papers studies the causalities and effects on the relationship between inbound tourism(TOU) and the production amount of service industry in China, using the unit root test, the Granger causality test, the cointegration test, and VECM. we take their natural logarithm and define them as TOU and SGDP: these represent the distributed variable based the lagged values of the number of international tourists by continent and real production amount in service industry of China, respectively. The results of empirical study of this papers are as follows: Firstly, in the unit root test, we found that each time series was unstable one that has unit root. This result made me use 1st differenced data for this empirical study. Secondly, in the Granger casuality test, the study results show that there is unilateral casuality relation between DLSGDP-$DLTOU_i$ except DLSGDP-DLTOUL model for the same time, while no casuality relation between DLTOU-DLSGDP for all models of China. Thirdly, there is cointegration relation between all models for the period of 1980-2008.

• Journal of Environmental Science International
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• v.31 no.1
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• pp.9-21
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• 2022

Today's cities require deeper understanding of the thermal environment and PM₁₀ as their management becomes more critical. Based on these circumstances, this study investigated the Granger causality between the thermal environment and PM₁₀ of the 25 districts of Seoul, the most populous and urbanized city in Korea. The results of the Granger causality test on the thermal environment and PM₁₀ were classified into 12 types. Except for type 12, the temperature and urban island heat intensity of the other 11 types operated as a Granger-cause to each other in both directions. Temperature operates as a Granger-cause of urban island heat intensity in type 12. The PM₁₀ level and urban pollution island intensity operated as a Granger-cause to each other in all districts. For types 1 and 2, thermal environment operated as a Granger-cause to PM₁₀ in one direction, and type 3-type 12 confirmed that thermal environment and PM₁₀ operated as a Granger-cause in both directions. Findings reveal the intricate causalities between thermal environment and PM₁₀ at the district level and suggest mitigation strategies that are more location based.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.10
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• pp.15-27
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• 2022

Recently, as carbon dioxide (CO₂) emissions have increased overall and contributed to air pollution, and awareness of environmental degradation has grown. This study examines the impacts and causalities of economic globalization, economic growth, energy consumption, and capital formation on CO₂ emissions in China over the period 1971-2014. The vector error correction model (VECM) and Granger causality test on time-series data are employed to observe the interactions between CO₂ emission, economic globalization, and various economic factors, including economic growth, energy consumption, and capital formation, since China's early stage of globalization. The empirical results indicate the existence of bidirectional causalities from economic growth, gross capital formation, economic globalization, and CO₂ emission to energy consumption, and bidirectional casualty from energy consumption to CO₂ emission relationships in the short run. The findings of this study suggest that indirect bidirectional causalities from economic growth, economic globalization, and capital formation to CO₂ emission through energy consumption are observed. Moreover, economic globalization accelerates CO₂ emission in the short run but decreases it in the long run. To reduce CO₂ emissions, and to ensure sustainable economic growth and economic globalization progress, some crucial energy-saving and energy-efficiency policies, regulatory rules, and laws are recommended.

• International Area Studies Review
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• v.13 no.1
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• pp.55-79
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• 2009

This papers studies the causalities and effects on the relationship between international trade and economic growth in China for the period of 1950-2007, using the unit root test, the Granger causality test, the cointegration test, VAR model, and VECM. The results of this study are as follows: Firstly, in the unit root test, I found that each time series was unstable one that has unit root. Secondly, in the Granger Causality test, this papers shows that variable dlexp and dlinp influence on dlgdp and dlgdd, while bilateral causality relation between dlexp and dlgdp, dlexp and dlgdd for the whole period, for the whole period, pre-reform period and post-reform period. Thirdly, there is no cointegraion relation between lgdp(or dlgdp, lgdd, dlgdd) and lexp, linp for lgdd-limp in the whole period, and pre-reform period, while no cointegration relation for the post-reform period. Finally, in the impulse-response test, it was proved that lgdp represents (-) correlation with lexp for the whole period. Thorough the variance decomposition test, it was proved that linp(or dlinp) is the most affected variable of the each data and relation between linp(or dlinp) and lexp(or dlexp) has become bigger recently.

• Journal of Energy Engineering
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• v.29 no.1
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• pp.1-12
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• 2020

The rapid climate change is strengthening carbon emissions regulations internationally. Korea is strongly pressed to accept the obligation to reduce greenhouse gases as one of the United Nations Framework Convention on Climate Change. This article analyzed the Granger causalities among environmental regulation, economic growth, electricity consumption, and CO₂ emission in Korea, using unit root test, cointegration test, and vector error correction model. As the results, environmental regulation has shown the bidirectional causalities with electricity consumption and CO₂ emission, while being unilaterally affected by economic growth in the long-run and strong relationship. Economic growth has affected electricity consumption, CO2 emission, and environmental regulation in the long-run, in the complex structure of the unilateral and short-run causality with electricity consumption and the bidirectional causality with CO2 emission. The policy implications will be as follows: ① environmental regulation should induce sustainable growth through encouraging technological innovation relating to CO2 reduction and productivity enhancement. ② Responding to the international CO2 reduction regulation, the synthetic policy initiatives will be considered to make synergy effects among policies relating to economic growth, electricity consumption.

• The Journal of Fisheries Business Administration
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• v.46 no.1
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• pp.93-107
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• 2015

This study aims to analyze causalities among Hairtail prices by distribution channel using a vector autoregressive model. This study applies unit-root test for stability of data, uses Granger causality test to know interaction among Hairtail Prices by distribution channel, and employes the vector autoregressive model to estimate statistical impacts among t-2 period variables used in model. Analyzing results of this study are as follows. First, ADF, PP, and KPSS tests show that the change rate of Hairtail price by distribution channel differentiated by logarithm is stable. Second, a Granger causality test presents that the producer price of Hairtail leads the wholesale price and then the wholesale price leads the consumer price. Third, the vector autoregressive model suggests that the change rate of Hairtail producer price of t-2 period variables statistically, significantly impacts change rates of own, wholesale, and consumer prices at current period. Fourth, the impulse response analysis indicates that impulse responses of the structural shocks with a respectively distribution channel of the Hairtail prices are relatively more powerful in own distribution channel than in other distribution channels. Fifth, a forecast error variance decomposition of the Hairtail prices points out that the own price has relatively more powerful influence than other prices.

• Journal of the Korean Geographical Society
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• v.48 no.1
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• pp.72-86
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• 2013

Industrial agglomeration is an old theme in economic geography and many studies have been devoted to this topic. But only few have empirically looked at the time trend of industrial agglomeration. This study measured agglomeration of U.S. industries over last 29 years and measurement results indicated that industrial clustering has occurred during the study period in all study industries without a common time trend shared amongst the study industries. The agglomeration levels then were plugged in to investigate causalities, i.e. causal relations, around industrial agglomeration. Three variables were selected to see causal relations with agglomeration levels based on literatures, and our focus was given to the causality between transport network and agglomeration. Causal relation from transport to agglomeration was found in various industries and this supports the argument that the development of transportation influences industrial agglomeration. At the same time inverse and bi-directional causalities were also revealed implying more complex relationship between these two.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.10
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• pp.4506-4513
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• 2012

The purpose of this study is to analyze the causality of electricity consumption and econmic growth and draw policy implications. To do this, we used Testing Prodedures of Unit Root and Cointegration and then VECM and Granger causality test using data taken from China over the period 1971 to 2008. As results, there are long and short term causalities between electricity consumption and economic growth of China. These results provide a few implications to policy analysts in China. First it is still available that the electricity comes before the economic development. The increase of electricity consumption promotes economic growth. Of course there are other factors to the economic growth, but the stable supply of electricity is necessary. Second, this paper confirms the assertion that the increase of GDP expands electric consumption is valid.

• Information Systems Review
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• v.21 no.1
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• pp.91-111
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• 2019

Around the end of 2017, the investment fever for cryptocurrencies-especially Bitcoin-has started all over the world. Especially, South Korea has been at the center of this phenomenon. Sinceit was difficult to find the profitable investment opportunities, people have started to see the cryptocurrency markets as an alternative investment objects. However, the cryptocurrency fever inSouth Korea is mostly based on psychological phenomenon due to expectation of short-term profits and social atmosphere rather than intrinsic value of the assets. Therefore, this study aimed to analyze influence of people's social sentiment on price movement of cryptocurrency. The data was collected for 181 days from Nov 1st, 2017 to Apr 30th, 2018, especially focusing on Bitcoin-related post in Twitter along with price of Bitcoin in Bithumb/UPbit. After the collected data was refined into neutral, positive and negative words through sentiment analysis, the refined neutral, positive, and negative words were put into regression model in order to find out the impacts of social sentiments on Bitcoin price. After examining the relationship by the regression analyses and Granger Causality tests, we found that the positive sentiments had a positive relationship with Bitcoin price, while the negative words had a negative relation with it. Also, the causality test results show that there exist two-way causalities between social sentiment and Bitcoin price movement. Therefore, we were able to conclude that the Bitcoin investors'behaviors are affected by the changes of social sentiments.

• Land and Housing Review
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• v.13 no.4
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• pp.45-53
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• 2022

This paper investigates empirically the lead-lag relation between the 'apartment price index' and 'Internet search volume'. This study uses Naver Trend Index as a proxy for Internet search volume. An increase in Internet search volume on the apartment price index indicates an increase in people's attention to an apartment. Different from previous studies exploring the relation between 'the released price index of the apartment' and 'Naver Trend Index', this study investigates the relation of the Naver Trend Index with 'the fundamental price component of an apartment' and 'the transitory price component of an apartment', respectively. The results of the Granger causality test reveal that there are bidirectional Granger causalities between the 'released price' and Naver Trend Index. In addition, the 'fundamental price component of an apartment' and Naver Trend Index have a feedback relation, while 'the transitory price component of an apartment' Granger causes the Naver Trend Index uni-directionally. The impulse response function analysis indicates that the shock of apartment prices increases Naver Trend Index in the first month. Overall, The close relationship between apartment prices and Naver Trend Index suggests that increases in the movement of apartment prices are positively associated with public attention on the apartment market.