IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxivy2021i2bp98-112.html
   My bibliography  Save this article

Changes in the Global Shipbuilding Industry on the Examples of Selected States Worldwide in the 21st Century

Author

Listed:
  • Malgorzata Kamola-Cieslik

Abstract

Purpose: The paper aims at analysing the changes in the shipbuilding industry and the decisions of various states seeking to increase the competitiveness of Asian and European shipyards in the 21st century, the impact of the COVID-19 pandemic on the portfolio of shipbuilding orders in 2020. Design/Methodology/Approach: The method of decision analysis makes it possible to identify the causes and effects of decisions made by governments and the management of shipbuilding groups. The comparative method is used to compare the changes taking place in the European and Asian shipbuilding industries. The statistical method is used to illustrate the dynamics of the economic and financial situations of shipyards. Findings: Shipyards operate on a competitive world market which experiences cyclical fluctuations in demand for ships. The dominant position of East Asian shipyards in the world market in the 21st century is the result of state subsidies, low labor costs, and the establishment of shipbuilding groups. In 2020, due to the COVID-19 pandemic, shipowners reduced orders for ships in the wake of a decline in demand for sea transport. The pandemic crisis hit shipyards in Europe specializing in the construction of cruise ships hardest. Practical implications: The European Union should adopt solutions that will allow European shipyards to maintain their leading position in constructing complex, technologically advanced ships. To survive the difficult situation on the shipping market, the European shipbuilding industry should use its shipbuilding potential in the field of ship repairs and offshore wind energy better. Originality/value: The research conducted made it possible to present the differences between the European and Asian shipbuilding markets and compare the outcomes of decisions made by various states faced by the financial crisis of shipyards.

Suggested Citation

  • Malgorzata Kamola-Cieslik, 2021. "Changes in the Global Shipbuilding Industry on the Examples of Selected States Worldwide in the 21st Century," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 98-112.
    • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:2b:p:98-112
    as

    Download full text from publisher

    File URL: https://ersj.eu/journal/2205/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Stig Tenold, 2019. "The Declining Role of Western Europe in Shipping and Shipbuilding, 1900–2000," Palgrave Studies in Maritime Economics, in: Niels P. Petersson & Stig Tenold & Nicholas J. White (ed.), Shipping and Globalization in the Post-War Era, chapter 0, pages 9-36, Palgrave Macmillan.
    2. Myrto Kalouptsidi, 2018. "Detection and Impact of Industrial Subsidies: The Case of Chinese Shipbuilding," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(2), pages 1111-1158.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Konstantinos Bakiris & John Mylonakis & Michael Evripiotis, 2022. "The Asian Giants against EU Shipbuilding and the Covid-19 Factor: How Could the European Shipping Industry Survive?," World Journal of Business and Management, Macrothink Institute, vol. 8(1), pages 1-16, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Defever, Fabrice & Reyes, José-Daniel & Riaño, Alejandro & Varela, Gonzalo, 2020. "All these worlds are yours, except india: The effectiveness of cash subsidies to export in nepal," European Economic Review, Elsevier, vol. 128(C).
    2. Lee Branstetter & Guangwei Li, 2024. "The Challenges of Chinese Industrial Policy," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 3(1), pages 77-113.
    3. Sears, Louis S. & Lin Lawell, C.-Y. Cynthia & Walter, M. Todd, 2020. "Groundwater Under Open Access: A Structural Model of the Dynamic Common Pool Extraction Game," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304276, Agricultural and Applied Economics Association.
    4. Kheiravar, Khaled H, 2019. "Economic and Econometric Analyses of the World Petroleum Industry, Energy Subsidies, and Air Pollution," Institute of Transportation Studies, Working Paper Series qt3gj151w9, Institute of Transportation Studies, UC Davis.
    5. Nathaniel Lane, 2020. "The New Empirics of Industrial Policy," Journal of Industry, Competition and Trade, Springer, vol. 20(2), pages 209-234, June.
    6. Ufuk Akcigit & Harun Alp & André Diegmann & Nicolas Serrano-Velarde, 2023. "Committing to Grow: Privatizations and Firm Dynamics in East Germany," International Finance Discussion Papers 1382, Board of Governors of the Federal Reserve System (U.S.).
    7. Lane, Nathaniel, 2016. "Manufacturing Revolutions: Industrial Policy and Industrialization in South Korea," SocArXiv 6tqax, Center for Open Science.
    8. Kalouptsidi, Myrto & Scott, Paul T. & Souza-Rodrigues, Eduardo, 2021. "Linear IV regression estimators for structural dynamic discrete choice models," Journal of Econometrics, Elsevier, vol. 222(1), pages 778-804.
    9. Mao, Jie & Tang, Shiping & Xiao, Zhiguo & Zhi, Qiang, 2021. "Industrial policy intensity, technological change, and productivity growth: Evidence from China," Research Policy, Elsevier, vol. 50(7).
    10. Branstetter, Lee G. & Li, Guangwei & Ren, Mengjia, 2023. "Picking winners? Government subsidies and firm productivity in China," Journal of Comparative Economics, Elsevier, vol. 51(4), pages 1186-1199.
    11. Yang, Dong & Li, Chengkun & Li, Lu & Lai, Kee-hung & Lun, Venus Y.H., 2022. "Maritime cluster relatedness and policy implications," Transport Policy, Elsevier, vol. 128(C), pages 76-88.
    12. Bofinger, Peter & Geißendörfer, Lisa & Haas, Thomas & Mayer, Fabian, 2023. "Credit as an instrument for growth: A monetary explanation of the Chinese growth story," W.E.P. - Würzburg Economic Papers 107, University of Würzburg, Department of Economics.
    13. WATANABE Mariko, 2020. "Competitive Neutrality of State-owned Enterprises in China's Steel Industry: Causal Inference on the Impacts of Subsidies," Discussion papers 20014, Research Institute of Economy, Trade and Industry (RIETI).
    14. Yanfeng Lou & Yezhuang Tian & Kai Wang, 2020. "The Spillover Effect of US Industrial Subsidies on China’s Exports," Sustainability, MDPI, vol. 12(7), pages 1-12, April.
    15. ZHANG,Hongyong & CHENG,Wenyin & LIANG,David Tao & Meng,Bo, 2024. "Industrial Subsidies along Domestic Value Chains and their Impacts on China’s Exports," IDE Discussion Papers 937, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    16. Giulia Brancaccio & Myrto Kalouptsidi & Theodore Papageorgiou, 2023. "The impact of oil prices on world trade," Review of International Economics, Wiley Blackwell, vol. 31(2), pages 444-463, May.
    17. Myrto Kalouptsidi & Paul T. Scott & Eduardo Souza‐Rodrigues, 2021. "Identification of counterfactuals in dynamic discrete choice models," Quantitative Economics, Econometric Society, vol. 12(2), pages 351-403, May.
    18. Myrto Kalouptsidi & Paul T. Scott & Eduardo Souza-Rodrigues, 2018. "Linear IV Regression Estimators for Structural Dynamic Discrete Choice Models," NBER Working Papers 25134, National Bureau of Economic Research, Inc.
    19. Reda Cherif & Fuad Hasanov, 2019. "The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy," IMF Working Papers 2019/074, International Monetary Fund.
    20. Áureo de Paula & Xun Tang, 2020. "Testable implications of multiple equilibria in discrete games with correlated types," CeMMAP working papers CWP56/20, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.

    More about this item

    Keywords

    Shipbuilding industry; public aid; economic crisis; Asia; Europe.;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xxiv:y:2021:i:2b:p:98-112. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.