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Determinants of imports of petroleum-based refinery goods in South Korea : Network structure and the heckscher-ohlin theory

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  • Determinants of imports of petroleum-based refinery goods in South Korea
  • Cho, Taek-hee; Lee, Seong-Hoon; Goo, Young-wan
  • The Association of Korean Economic Studies


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Title Determinants of imports of petroleum-based refinery goods in South Korea
Similar Titles
Sub Title

Network structure and the heckscher-ohlin theory

Material Type Articles
Author(English)

Cho, Taek-hee; Lee, Seong-Hoon; Goo, Young-wan

Publisher

[서울]:The Association of Korean Economic Studies

Date 2015-08
Journal Title; Vol./Issue Korea and the World Economy:vol 16(no. 2)
Pages 15
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Energy
Holding The Association of Korean Economic Studies

Abstract

Theoretically, the larger the network a petroleum refinery has, the more conveniently importers are connected to a few exporters. This paper applies network structure to estimate the imports of petroleumbased refinery goods of South Korea using a dataset from 1980 to 2003. Using the H-O model, we found that the network variable is interactive. Although the international trade of petroleum refinery goods by South Korea was not largely explained by the differences in the ratio of countries’ resources, the network structure of these goods rendered HO theory statistically significant. In addition, the network index had the strongest effects on imports. The decreasing network index implies that petroleum products become normal goods that can be produced in many countries.