Asymmetric reflection of the Chinese economy on container freights – An application using the Li Keqiang index
Makaleler > Tam Makale · 2022
Yazarlar: Abdullah Açık, Can ATACAN
Symmetry: Culture and Science, ESCI İndekslerine Giren Dergi, Uluslararası, Scopus, 2022, cilt 33, ss 347-362
DOI: 10.26830/symmetry_2022_4_347
Özet
<p><strong>Abstract:</strong> <em>Maritime transport carries great risks for both ship and cargo owners as it shows great changes in a short time. GDP, which is an indispensable variable of the predictive models of transportation costs, is subject to criticism that it is inflated due to political concerns. The Li Keqiang index, which has been proposed in China as an alternative to this measurement tool, has not yet received sufficient attention in the literature. We examined the effect of the Chinese economy, which is considered one of the dominant countries in maritime trade, on freights of container transportation with this new indicator. The research conducted using asymmetric causality analysis showed that negative shocks on the country's economy have a decreasing effect on the container freights on the Shanghai-Rotterdam two-way routes, while positive shocks have a one-way increasing effect on the route from Shanghai to Los Angeles. Additionally, asymmetric effects from freight to the economy are determined on some routes. The results will be useful in developing proactive contract strategies for both shipowners and cargo owners.</em></p><p><strong>Keywords:</strong> Asymmetric shocks, causality, Chinese economy, container transportation</p>