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Seaport infrastructure investment and economic growth in Korea

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  • Seung-Hoon Yoo

Abstract

A seaport plays an important role in the sector of sea transportations, exports, imports, tourism, and travel, and thus is an important ingredient of economic growth. This paper investigates the causality issues between seaport infrastructure investment and economic growth in Korea by applying modern time-series techniques. It employs annual data covering the period 1970–2002. Tests for unit roots, cointegration, and Granger-causality based on error correction models are presented. The results show that unidirectional causality runs from seaport infrastructure investment to economic growth without any feedback effect. This means that increase in seaport infrastructure investment directly affects economic growth. In order not to adversely affect economic growth, the Korean government and industry should endeavour to overcome the constraints on seaport infrastructure investment.

Suggested Citation

  • Seung-Hoon Yoo, 2006. "Seaport infrastructure investment and economic growth in Korea," International Journal of Critical Infrastructures, Inderscience Enterprises Ltd, vol. 2(1), pages 1-9.
    • Handle: RePEc:ids:ijcist:v:2:y:2006:i:1:p:1-9
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    Citations

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    Cited by:

    1. Hrushikesh Mallick & Mantu Mahalik, 2010. "Constructing the Economy: The Role of Construction Sector in India’s Growth," The Journal of Real Estate Finance and Economics, Springer, vol. 40(3), pages 368-384, April.
    2. Jiang, Yonglei & Lu, Jing & Li, Jing & Wang, Lu, 2017. "Dynamic impacts of Harbor Tolls Policy on China's port economy – The case of Zhanjiang Port," Research in Transportation Economics, Elsevier, vol. 61(C), pages 37-43.
    3. Guo, Liquan & Ng, Adolf K.Y. & Jiang, Changmin & Long, Jiancheng, 2021. "Stepwise capacity integration in port cluster under uncertainty and congestion," Transport Policy, Elsevier, vol. 112(C), pages 94-113.
    4. Hidalgo-Gallego, Soraya & Núñez-Sánchez, Ramón, 2023. "The effect of port activity on urban employment: An analysis for the Spanish functional urban areas," Journal of Transport Geography, Elsevier, vol. 108(C).
    5. Song, Lili & van Geenhuizen, Marina, 2014. "Port infrastructure investment and regional economic growth in China: Panel evidence in port regions and provinces," Transport Policy, Elsevier, vol. 36(C), pages 173-183.
    6. Lili Song & Jianing Mi, 2016. "Port infrastructure and regional economic growth in China: a Granger causality analysis," Maritime Policy & Management, Taylor & Francis Journals, vol. 43(4), pages 456-468, May.

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